What is SFSS?

Student Financial Supplement Scheme


SFSS, also known as the Student Financial Supplement Scheme, was a voluntary loan program designed to help tertiary students cover their expenses while studying. Loan repayments do not commence until five years after the loan was taken out by the student AND only when income reaches a certain level (listed in tables below). This loan program ended in December 2003. Continue reading “What is SFSS?”

What is HELP?

Higher Education Loan Programme


HELP, also known as the Higher Education Loan Programme, is a scheme designed by the government to assist tertiary students with the cost of their higher education expenses and remove up-front costs by providing contingent loans. You may qualify for one of five HELP loans, depending on your specific situation and where you prefer to study. Continue reading “What is HELP?”

What is HECS?

Higher Education Contributions Scheme


HECS, or the Higher Education Contributions Scheme, was phased out after 2005. This original program charged all university students an upfront fee of $1,800 and the Commonwealth paid the balance. The student could then defer payment of the HECS debt and repay it through the tax system once their income reached a certain threshold amount. Continue reading “What is HECS?”

What is the Medicare Levy Exemption?

Medicare Levy Exemption


First of all, if you are a nonresident for tax purposes, you do not need to pay the Medicare Levy. Every Australian resident has to pay a Medicare Levy that amounts to 1.5% of their taxable income. However, it is possible to qualify for a reduction or exemption.


If you are an Australian resident, you may be able to pay a reduced Medicare Levy. Your income must be between $21,665 and $27,068. Slightly higher thresholds apply to taxpayers who qualify for the senior Australians tax offset and the pensioner tax offset. Your income must be between $34,244 and $42,805. On the other hand, if your taxable income is equal to or less than the lower threshold amount ($21,665) you may be exempt from the Medicare Levy entirely.