Go to top of page You can check how much you currently owe on your HELP debt through the Australian Tax Office (ATO) either online through myGov or by contacting them directly on 12 28 61. Your myGov account will show you how much you owe and any repayments you have made. If you don't have a myGov account, you can set one up following the instructions on the ATO website or you can call the myGov helpdesk on 13 23 07 (select option 1). The ATO website has more information regarding all Study and Training Support Loans, including HELP. You can check your available HELP balance through myHELPbalance. Your available HELP balance is the amount you have available to borrow for future study using HELP loans. myHELPbalance portal does not: You will need your Unique Student Identifier (USI) or Commonwealth Higher Education Student Support Number (CHESSN), a student ID from any university, higher education provider or VET Student Loans provider you have studied at, your first name, last name and date of birth to access myHELPbalance.
Whether you are still in school, just graduated or have already started repaying your student loans it is important to stay on the right track with your student loans. That means avoiding fees and extra interest costs, keeping your payments affordable, and protecting your credit rating. Check out the tips below to help you stay on top of your student loan repayment. Remember, student loan repayment is your responsibility and you are your own best advocate!
The chart below should give you an idea of the starting salary you will need to repay various levels of student loan debt. The chart assumes a fixed 4.29% interest rate and a ten year Standard Repayment Plan. It also assumes that you will be using 10% of your income for student loan repayment.
Important Repayment TermsDeferment: A deferment allows you to defer or postpone your scheduled monthly loan payments. Deferments may apply to PLUS loans, Federal Consolidation Loans, and Federal Direct loans. Deferments last for different amounts of time. If you have already received a prior deferment, you may qualify for the same one again. In some cases, if you have exceeded the time limit on a particular deferment, you may no longer be eligible to apply for the same deferment. During the deferment period, the federal government will pay the interest on subsidized loans. If you have an unsubsidized loan, you can save money by paying the interest at regular intervals; otherwise, the interest will be added to the loan principal. Forbearance: If a borrower does not qualify for a deferment, they may request a forbearance. A forbearance allows the temporary reduction or postponement of the principal payments for periods of up to one year at a time. Receiving a forbearance is not automatic, however. You must apply for a forbearance in writing through St. Olaf or the agency that St. Olaf employs to service your loan. You must supply documentation to support your request for a forbearance. You will also have to continue your payments until you are notified that your forbearance has been granted. *IN CASES WHERE A FORBEARANCE AGREEMENT IS REQUIRED, the borrower and lender must agree to the way in which the interest accruing during the forbearance will be paid. Cancellation: Loans will be canceled in the event of the borrower’s death or if the borrower becomes totally and permanently disabled after the loan is distributed. Much of the information on this page came from The Institute for College Access and Success.
You will first need to pay $40 or one-sixth of your fine, whichever is greater, before the penalty reminder due date.
If you need longer than three months to pay, you can set up a payment plan to pay over a longer period by : To set up a payment plan for an overdue fine:
Do you need financial, legal or other support? You can contact help and support services. |