Debt repayment threshold lowered – The Western Weekender

Western Sydney University nursing student Kaitlyn Hooker. Photo: Melinda Jane

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For most higher education seekers, the process is simple. Pick a profession, enrol in a degree and worry about the debt later.

But now, with the HECS-HELP repayments threshold dropping for the second time in two years, students may have to pay back their loan a lot sooner than predicted.

From Monday, July 1 anyone earning between $45,881 and $51,957 before tax must pay back one per cent of their income.

This increases by one per cent per income bracket, capped at 10 per cent for those earning over $131,989 annually.

While one per cent of your earnings may seem like an insignificant amount, for casual, part-time, and entry level…

Read the full article at: https://westernweekender.com.au/2019/06/debt-repayment-threshold-lowered/

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