Introduction to FEE-HELP

FEE-HELP

Defer the costs of a full-fee paying course

If you’re an Australian citizen, a permanent humanitarian visa holder or an eligible New Zealand citizen* studying a postgraduate award course, you may be eligible for FEE-HELP, a government loan scheme that allows you to repay your tuition fees once you start earning above a certain annual salary.

FEE-HELP – Study Assist is an Australian Government loan scheme that assists eligible fee paying student’s pay all or part of their tuition fees.

For any information about FEE-HELP, visit the Study Assist website here.

Eligibility for FEE-HELP is governed by certain criteria around your citizenship or residency status, in accordance with the Higher Education Support Act (2003).

*The Australian Government recently passed legislation permitting eligible New Zealand citizens to access HELP assistance.

What is your current gross salary per annum?

PAY PERIOD:

Weekly
Fortnightly
Monthly

$2,340

Take home pay

$2,155 (-$185)

After FEE-HELP

YOUR FEE-HELP REPAYMENTS WILL BE FOR

7 yrs

6%

OF YOUR TAKE HOME PAY WILL BE SPENT ON REPAYMENTS

YOUR ANNUAL FEE REPAYMENT WILL BE

$4800

$29,700

IS YOUR TOTAL FEE DEBT OVER TERM

EMAIL MY CALCULATION

IMPORTANT INFORMATION

This tool has been prepared by the Australian Institute of Business Pty Limited ABN 86 009 115 422.

WARNING: This tool should not be relied on to make a decision to commence study and is not intended to be relied on for the purposes of making a decision with relation to FEE-HELP or making any financial decisions. It should not be relied upon as a true representation of any actual FEE-HELP entitlements or repayments, and does not represent your actual take home pay before or after any FEE-HELP deductions.

You need to take into account your own personal objectives, financial situation and needs as this tool only provides hypothetical calculations and is to be used for illustrative purposes only. We cannot and do not guarantee its applicability or accuracy and recommend that you visit the Study Assist website for any FEE-HELP information. We recommend you consider obtaining personalised advice from qualified professionals regarding all personal financial decisions.

This tool is current as at 7 July 2017 and is subject to change. To the extent permitted by law, no liability is accepted by the Australian Institute of Business and its related entities, agents, third parties and employees for any loss or damage arising, directly or indirectly from reliance on this tool.

How this calculator works

This calculator is intended as an educational tool. It uses the following assumptions and methodology to provide you with an indication about how much take home pay you may have and any potential shortfall. All examples shown in this tool are illustrative and do not represent an estimate or guarantee. Your take home pay may be very different to any of the outputs generated by this calculator.

No individual assumptions:

This calculator does not take into account your personal eligibility, tax obligations, objectives, your financial situation and needs and other unpredictable events that may alter your weekly take home pay.

No tax or CPI assumptions:

Any amounts are shown in today’s dollars without any tax or CPI considerations or adjustments whatsoever.

2017-2018 StudyAssist repayment rates

The calculator used the StudyAssist repayment rates provided in the 2017-2018 table available here.

Getting help:

Don’t make any decisions based on this calculator. Before you make any decisions, you should get information and advice from the Australian Government.

For any information about FEE-HELP, visit the Study Assist website here.

Australian Institute of Business (AIB) is an accredited higher education provider and is approved to offer FEE-HELP.

FEE-HELP is an Australian Government loan scheme which helps students to pay part or all of their tuition fees, so you’re not all lumped with it at once. Put simply, you can study now and pay your course fees later.

Fast facts:

  • Eligibility is not affected by your income and assets.
  • FEE-HELP covers up to $100,879 (as at 2017 – indexed annually) in tuition fees over your lifetime.
  • You don’t have to start paying back your FEE-HELP loan until you earn over the minimum repayment threshold. The current threshold for 2017/2018 is $55,874.
  • No loan fee applies for postgraduate courses such as the MBA.  
  • There’s no interest applied. Your accumulated Fee HELP debt is subject to indexation, which is applied on 1 June each year to maintain its real value by adjusting it in line with changes in the cost of living (as measured by the Consumer Price Index (CPI) figure released in March). Please be advised that debts are not indexed until they are 11 months old.
  • You need to be an Australian citizen or hold the appropriate visa.

For more information about FEE-HELP, visit the Study Assist website here.

To find out more about AIB course fees and key dates, please visit the Information for Students page. 

Want an online MBA and FEE-HELP info pack? Click here.

Got questions about  FEE-Help?

Talk to a course advisor