Studying maths, science, teaching, nursing, midwifery or early childhood? You need to know about the HECS-HELP Benefit!
This is a special shout-out to all maths, science, nursing, midwifery and early childhood students, particularly those who might be graduating soon.
The HECS-HELP Benefit is a special program designed to encourage graduates from specific fields to take up employment in specified locations. If you’re eligible for the program, you could benefit from reduced compulsory HELP loan payments once you’ve graduated and gained eligible employment.
As an example, the maximum benefit for most graduates in the 2016-17 financial year will be an $1,825.46 contribution to your HELP loan, all for doing what you love and have studied so hard for!
You must apply to the Australian Tax Office to be assessed for the benefit, and you need to be working in an eligible occupation and in an eligible postcode, as defined by the legislation.
You can currently receive the benefit for up to five years, as long as you remain eligible, and you can apply for up to two years from the end of the income year for which you’re applying – so tell your graduate friends too!
Resources:
Confused? Got questions? Contact finance.slo@csu.edu.au to chat about your individual circumstances, or check out the Looking After Your Bottom Line blog.
