How to Check Your HECS-HELP Debt Balance in Australia
Not sure how much HECS debt you have left? Here are the fastest ways to check your balance via myGov, what the number really means, and why it changes.
By Timothy Hirou GaschereauPublished 9 min read
Try it yourself
It is surprisingly easy to lose track of your HECS-HELP balance. You finish uni, start working, and the repayments quietly come out of your pay without you ever really seeing them. Then a mortgage broker asks how much HECS you owe, and you get the blank stare.
The good news: checking takes about two minutes if your myGov account is linked to the ATO. The catch: the number is not always as simple as it looks, because indexation, repayments, and fee reporting all work on different timelines. Here is everything you need.
🎯 The essential: The fastest way to check your HECS-HELP balance is myGov linked to the ATO: My profile, then Loan accounts. Your balance only drops after your tax return is processed, not during the year, even though your employer withholds repayments each pay. Indexation is applied on 1 June (3.2% in 2025, 2.8% in 2026), capped at the lower of CPI or the Wage Price Index. A one-off 20% reduction hit eligible balances from late 2025, so check yours now. This is general information, not personal advice.
Check your HECS balance in 2 minutes
- 1. Go to my.gov.au and sign in.
- 2. Select Australian Taxation Office from your linked services.
- 3. In the ATO portal, go to My profile, then Loan accounts (or type "HELP" in the search bar).
- 4. Your outstanding HELP balance is displayed there.
- 5. Note the date the balance was last updated, shown next to the figure.
- 6. Remember: it may not yet include your most recent study fees or the latest indexation.
The four ways to check your balance
| Method | What you need | Best for |
|---|---|---|
| ATO via myGov (online) | myGov linked to the ATO | The fastest option for most people |
| myGov app or ATO app | The app plus your login | A quick check on your phone |
| Registered tax agent | A tax agent relationship | If you already use an accountant |
| Call the ATO on 13 28 61 | Your TFN and ID | When you cannot get online |
If you studied recently and cannot see a loan account at all, do not panic: your provider has probably not yet reported your fees, which can take a few months after your first study period. Check back once your results are finalised.
What the number actually means
The figure on screen is your current outstanding balance as recorded by the ATO, but it will not reflect every recent transaction. Three things move it:
- New study fees are added each study period, but only after your provider reports them (a few months' lag).
- Indexation is applied on 1 June each year, so the balance jumps on that date.
- Compulsory repayments reduce your balance only after your tax return is processed. During the year, your employer withholds extra, but that money sits with the ATO as a withholding until you lodge.
This is why your balance can look unchanged mid-year even though HELP is coming out of every pay. The withholding is not credited to your loan until your return is lodged and assessed, usually a few weeks after you lodge.
Why your balance jumps on 1 June
HELP debts do not charge interest. There is no rate, no compounding, no late fees. Instead the government applies indexation on 1 June each year to keep the real value of the debt in step with the cost of living. Since 2024 the rate is the lower of CPI or the Wage Price Index, a change that was backdated so the unusually high 2023 indexation was recalculated and many borrowers had their balance reduced. The 2025 rate was 3.2% and the 2026 rate is 2.8%.
A practical tip: if you are going to make a voluntary repayment anyway, doing it before 1 June means indexation is calculated on a smaller balance. Our HECS indexation guide digs into the mechanics.
The 2025 one-off 20% reduction
The biggest change to the HELP scheme in its history: legislation passed in mid-2025 applied a one-off 20% reduction to eligible HELP debts, based on the balance outstanding as at 1 June 2025.
- Who: anyone with an outstanding HELP debt as at 1 June 2025 (HECS-HELP, FEE-HELP, VET Student Loans, and other eligible loans).
- How much: a one-off 20% cut to that balance.
- What you had to do: nothing. The ATO applied it automatically, from late November 2025.
- How to confirm: check your balance via myGov. If you have not looked since mid-2025, the number will be materially lower.
The same legislation raised the minimum repayment threshold and changed the sums, covered next.
How compulsory repayments work
Once your repayment income (taxable income plus reportable fringe benefits and reportable employer super) passes the threshold, compulsory repayments kick in. For 2025-26 the threshold is $67,000, and from 2025-26 the repayment is calculated only on the income above the threshold, not your whole income, a fairer marginal system.
Your employer withholds the repayment during the year, but only if you ticked the HELP box on your Tax File Number declaration. If you did not, they may not withhold enough, leaving you with a bill at tax time. The withheld amount is credited to your loan only after your return is processed. You can also make voluntary repayments anytime via myGov or BPAY, which reduce your balance immediately, though there has been no bonus for doing so since 2019. Our guide on how HECS repayments actually work has the full rate detail.
Should you pay it off faster?
This is personal, and not something to take as advice. But worth knowing: HECS-HELP is one of the cheapest debts in Australia, with no interest, only indexation now capped at the lower of CPI or WPI. Compared with a credit card at 20% or a personal loan at 8 to 12%, it sits at the bottom of the pile, so many people clear higher-interest debt or build an emergency fund first.
The one concrete reason to pay it down sooner: lenders factor your HELP debt into your borrowing capacity, so if you are about to apply for a mortgage it can reduce how much you can borrow. Our guide on whether to pay off HECS early weighs it up.
Frequently asked questions
How do I check my HECS-HELP balance?
+
The fastest way is via myGov. Sign in at my.gov.au, select the ATO from your linked services, go to My profile, then Loan accounts, and your outstanding HELP balance is shown there. You can also use the myGov app, the ATO app, call the ATO on 13 28 61, or ask your registered tax agent. All show the same underlying figure.
Why has my HECS balance gone up even though I have been making repayments?
+
Two reasons. Indexation is applied on 1 June each year and lifts your balance. And the compulsory repayments your employer withholds during the year do not reduce your balance until after your tax return is lodged and processed, so mid-year the balance can look unchanged even though money is being withheld from every pay.
Why does my balance not show my recent study fees?
+
Education providers report your HELP fees to the ATO after your study period ends, which can take several months. If you enrolled recently, those fees may not appear in your loan account yet. Check back after your semester results are finalised, and contact your provider if nothing shows after about six months.
What is the difference between my HELP balance and my loan balance?
+
In everyday use the terms are interchangeable. The ATO portal shows your current outstanding HELP balance, the amount you still owe after all repayments, indexation, and reductions. It is not the original amount you borrowed.
When does indexation get applied to my HECS debt?
+
On 1 June each year. Since 2024 the rate is the lower of CPI or the Wage Price Index (WPI). The 2025 rate was 3.2% and the 2026 rate is 2.8%. A voluntary repayment made before 1 June reduces the balance that indexation is calculated on.
What happened to the 20% student loan reduction in 2025?
+
Legislation passed in mid-2025 applied a one-off 20% reduction to eligible HELP debts (balances outstanding as at 1 June 2025), automatically, with no action needed. The ATO began processing reductions from late November 2025, applying the cut before the 2025 indexation. Check your myGov account to see your updated balance.
Can I make a voluntary repayment to reduce my HECS balance faster?
+
Yes, at any time via the ATO online portal through myGov or by BPAY, with no minimum or maximum. Voluntary repayments reduce your balance immediately, unlike compulsory repayments which wait for your return to be processed. Note there has been no bonus for voluntary repayments since 2019.
Keep reading
Books worth reading
📚 Recommended reading
The Barefoot Investor
Scott Pape
The Barefoot Investor
Scott Pape
Australia's best-selling money book ever. A simple system for accounts, budgeting, debt and a real emergency fund in one.
Making Money Made Simple
Noel Whittaker
Making Money Made Simple
Noel Whittaker
Australia's classic, comprehensive money guide covering tax, super and investing, updated for today.
On Your Own Two Feet
Helen Baker
On Your Own Two Feet
Helen Baker
An Aussie financial planner's essential guide to money independence for women, covering every life stage from single to separated. Warm, practical and genuinely on your side.
Some links above are affiliate links. If you buy through them, Snowball Invest may earn a small commission at no extra cost to you. We only recommend books we'd suggest anyway.
Sources
- ATO, view your study loan account online
- ATO, study and training loan repayment thresholds and rates
- StudyAssist, checking your HELP debt
- myGov sign in
General information only, not personal financial or tax advice. It does not take your circumstances into account, and figures such as thresholds and indexation rates change. Check current ATO guidance and consider a registered tax agent for your situation.
Was this article useful?
General information only. This article is educational and does not constitute personal financial advice. It does not account for your circumstances. Consider your own situation and seek advice from a licensed adviser before acting. Read our full disclaimer.
Timothy Hirou Gaschereau
Founder of Snowball Invest, not a financial adviser.
I write about what I'm learning myself, because nobody ever taught us how to take control of our own money. It's a skill, not a mystery, and it's never too late to learn it. The best day to start was yesterday, the second best is today.
LinkedIn →Related articles
The 20% HECS Debt Reduction Explained
The government cut eligible student loan balances by 20%. Here is who qualifies, how the cut interacted with 2025 indexation, and how to check your new balance.
FEE-HELP vs HECS-HELP: What's the Difference?
HECS-HELP covers your student contribution in a Commonwealth-supported place; FEE-HELP covers full tuition fees. Here is exactly how the two HELP loans differ.
How HECS-HELP Repayments Actually Work (And Why Your Debt Can Grow)
A plain-English breakdown of HECS-HELP indexation and compulsory repayments, and why your balance can rise even while you're paying it off.