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HECS debt if I'm a self-funded pensioner

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Initiate

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Hi. 

 

I have retired from the workforce and will become a self-funded retiree (receiving a pension from my super) very shortly. I am 57 and thinking about undertaking some university study (possibly leading to a degree).  It will probably incur a HECS debt. I am doing to uni course because I'm interested in the subject and want to learn more about it.

 

I have been told that I won't have to pay it back if I don't get a job that uses my degree (which might take some years to obtain)?  Is this correct? 

 

Thanks in advance ...

#lifelonglearning

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Taxicorn

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Absolutely Untrue.

 

You will have to repay the debt once your total taxable income exceeds the threshold lower limit of $51,957

You will pay back a certain percent based on the level of this income

 

https://www.studyassist.gov.au/paying-back-your-loan/loan-repayment

 

2 REPLIES 2
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Most helpful response

Taxicorn

Replies 1

Absolutely Untrue.

 

You will have to repay the debt once your total taxable income exceeds the threshold lower limit of $51,957

You will pay back a certain percent based on the level of this income

 

https://www.studyassist.gov.au/paying-back-your-loan/loan-repayment

 

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Initiate

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Thank you for your answer - and the link to more info.  Very much appreciated.