The Labor government promised to reduce all HELP debts by 20 per cent if they were re-elected. They were (in case you missed it).
Tax season is now upon us and people with student loans have likely discovered their HECS (Higher Education Contribution Scheme) or HELP (Higher Education Loan Program) debt hasn’t shrunk when they log in to the Australian Taxation Office (ATO) app or website.
It has actually increased.
Are you confused or have questions about your tax return and your HELP debt? We asked tax and finance experts for their advice.
How does the 20 per cent reduction work?
HECS-HELP (also known as HECS) is a government loan that can be used to pay for your study. (Adobe Stock)
The Australian Government’s Department of Education…