Estimate the monthly amount needed to clear a HELP debt in a chosen number of years at an assumed indexation rate.
A HELP debt does not charge interest. Instead, on 1 June each year the unpaid balance is indexed. Since the 2024 changes, the indexation factor is the lower of the Consumer Price Index and the Wage Price Index, applied back to 1 June 2023. This estimator treats indexation as a smooth yearly rate so you can see roughly what it takes to clear a balance by a target date.
How to use it: enter your current balance from myGov (ATO online services), an indexation rate you want to test and the number of years. The monthly figure is the total you would need to repay each month through compulsory repayments withheld by your employer plus any voluntary payments.
Worked example (illustrative): a $30,000 balance, 3% assumed indexation, cleared over 5 years needs roughly $539 a month, about $32,300 in total, of which about $2,300 is indexation. Compare that with your compulsory repayment: at $85,000 of repayment income in 2026–27 it is about $2,321 a year ($193 a month), so the gap would be voluntary.
Limits: real indexation is applied once a year on 1 June to the balance at that date, and compulsory repayments are credited when your return is assessed, so actual figures differ. The rate you enter is an assumption, not a forecast. The 20% reduction applied to HELP balances as at 1 June 2025 should already show in your balance. Before making voluntary payments, read the voluntary repayment guide. General information only.
Rates, Thresholds and Caps
How compulsory HELP and other study loan repayments work since the 2025 reform: the $69,528 threshold for 2026–27, marginal bands, repayment income, indexation and the 20% debt cut.
Worked Examples and Checklists
Compare voluntary HELP repayments with saving, an offset account or super, using after-tax returns, indexation timing around 1 June and the effect on borrowing and cash flow.
