Notification of the repayment incomes and the repayment rates for the Higher Education Loan Program for the 2023-2024 income year

NOTIFICATION UNDER THE HIGHER EDUCATION SUPPORT ACT 2003

The following notice specifies the repayment incomes and repayment rates for the Higher Education Loan Program (HELP) for the 2023-2024 income year. It has been made under the Higher Education Support Act 2003 (HESA). A copy of the repayment incomes and rates can be obtained from the Study Assist website at www.studyassist.gov.au or the Director, HELP Policy team, Higher Education Division, Department of Education, GPO Box 9880, Canberra City, ACT 2601, or by telephoning (02) 6240 9577.

HESA section

Description

154-10

The minimum repayment income for the 2023-2024 income year is $51,549.

154-20

The following are the amounts referred to in s.154-20 of HESA for the 2023-2024 income year:

Applicable percentages
Item	If the person’s repayment income is:	The percentage applicable is:
1	More than or equal to $51,550	1.0%
2	More than or equal to $59,519	2.0%
3	More than or equal to $63,090	2.5%
4	More than or equal to $66,876	3.0%
5	More than or equal to $70,889	3.5%
6	More than or equal to $75,141	4.0%

Section

Description

cont.


Applicable percentages
Item	If the person’s repayment income is:	The percentage applicable is:
7	More than or equal to $79,650	4.5%
8	More than or equal to $84,430	5.0%
9	More than or equal to $89,495	5.5%
10	More than or equal to $94,866	6.0%
11	More than or equal to $100,558	6.5%
12	More than or equal to $106,591	7.0%
13	More than or equal to $112,986	7.5%
14	More than or equal to $119,765	8%
15	More than or equal to $126,951	8.5%
16	More than or equal to $134,569	9.0%
17	More than or equal to $142,643	9.5%
18	More than or equal to $151,201	10.0%