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Changes to HECS

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Students with a Higher Education Contribution Scheme HECS debt have, until now, received a 20% discount if they elect to pay their contribution up front, or get a bonus of 10% on voluntary payments of $500 or more.

From 31 December 2011, the discount will be reduced to 10% and the bonus will be reduced to 5%.

Voluntary payments and upfront payments made before 31 December will continue to attract the current incentive.

If you have a HECS debt, speak to your Bongiorno adviser about the best way to repay it.


MLC Technical Update 10 May 2011

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