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myHELPbalance portal survey

23 July 2019

Please note, as of 9/08/2019 this survey has closed. This news item will remain here for historical purposes. If you have any questions or concerns regarding this survey, please submit an enquiry through the contact us page.

 

 

The Department of Education are in the final design stage of a new HELP loan portal for students around the implementation of the new combined HELP loan limit that commences from 1 January 2020. The portal will be called myHELPbalance.

We need your help!

The department is very eager to ensure that this portal is seamless for students, and user friendly. For this reason, we are wanting to involve current and recent students who have their student journey fresh to partake in the survey.

Can you please spare 3-4 minutes to complete this survey: [Link removed]. The survey is open until 9 August 2019.

 

Background

The combined HELP loan limit and the renewable HELP balance will be in place from 1 January 2020. The combined HELP loan limit will replace the FEE-HELP limit and will include FEE-HELP, VET Student Loans, VET FEE-HELP and new HECS-HELP borrowing for the first time. From 1 January 2020 onwards, more individuals will need to view and manage their HELP balance (i.e. their available borrowing capacity).

The HELP loan limit will not be a lifetime limit like the current FEE-HELP limit. An individual will have a unique HELP balance which will go up with repayments (credits) and down with study (debits). Commencing from the 2019-20 income year, repayments an individual makes towards their accumulated HELP debt will credit their HELP balance and can be re-borrowed in the future, up to the current HELP loan limit.

As a person’s HELP balance increases and decreases, we need to be able to show you this information. That is why we’re designing the myHELPbalance portal.