I have stopped work and am living off savings, my husband has retired. I still have a small HELP debt. Although I am not earning anything, interest has been added to the loan. Do I need to pay the loan out? I don't want the debt to increase.
Hi @JanefromSpain,
Unless you meet the study and training loan repayment thresholds and rates for your HELP loan. Then you are under no obligation to pay the loan out.
Indexation will continue to apply on 1 June each year. To avoid indexation, you can choose to pay off your total loan balance with a voluntary payment before 1 June.
This information is all in our 'Paying my HECS HELP student loan' article.
Hi @JanefromSpain,
Unless you meet the study and training loan repayment thresholds and rates for your HELP loan. Then you are under no obligation to pay the loan out.
Indexation will continue to apply on 1 June each year. To avoid indexation, you can choose to pay off your total loan balance with a voluntary payment before 1 June.
This information is all in our 'Paying my HECS HELP student loan' article.
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