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HELP balance query

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Hi experts, I have a question about an unexpectedly high HELP balance. I studied an undergraduate degree from 2009-2012, and paid off all my charges up-front, so had a HELP balance of zero. I then did an honours degree in 2013, and had accrued a HELP debt of $4,180.00 at the end of semester 2, 2013 (as shown on the financial statements from my uni). I then undertook a PhD which accrued no HELP debt. 

 

When I log onto the ATO website I can see that my total HELP debt was $9,714.00 as of July 2014 (the earliest date that the ATO site goes back to). Indexation doesn't account for an increase from $4180 - $9714 betwene the end of 2013 and the middle of 2014. Does anyone have any ideas what the cause of this increase could be?

 

Thanks in advance for any help or advice. 

 

Cheers 

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Hi @KendallJones

 

Thanks for your question.

 

You are correct. Indexation wouldn't explain the apparent increase. You can check out the study and training support loans section of our website for more information about indexation and how it works.

 

Based on the information that you have provided, the most likely explanation is that the honours degree that you completed in 2013 cost more than $4,180. Perhaps your university financial statement only reflects the cost of semester 2. The rest of the $9,714 balance may represent your semester 1 costs.

 

Of course this is only speculation. HELP debts are reported by education providers through the Department of Education, Skills and Employment (DESE). You may want to get in touch with your university to confirm how much your honours degree cost.

 

Depending on what they say, feel free to phone us on the Individuals enquiries number so that we can look into it for you.

 

Hope this helps.

 

Thanks,

 

ChrisR

1 REPLY 1
Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @KendallJones

 

Thanks for your question.

 

You are correct. Indexation wouldn't explain the apparent increase. You can check out the study and training support loans section of our website for more information about indexation and how it works.

 

Based on the information that you have provided, the most likely explanation is that the honours degree that you completed in 2013 cost more than $4,180. Perhaps your university financial statement only reflects the cost of semester 2. The rest of the $9,714 balance may represent your semester 1 costs.

 

Of course this is only speculation. HELP debts are reported by education providers through the Department of Education, Skills and Employment (DESE). You may want to get in touch with your university to confirm how much your honours degree cost.

 

Depending on what they say, feel free to phone us on the Individuals enquiries number so that we can look into it for you.

 

Hope this helps.

 

Thanks,

 

ChrisR