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 of 2003.

Your repayment income consists of your taxable income plus any of the following:

  • Total net investment loss
  • Total reportable fringe benefits
  • Reportable superannuation contributions
  • Exempt foreign employment income

2017-2018 repayment income thresholds and rates: 

Repayment Income Repayment Rate
Below $55,874 Nil
$55,874 – $68,602 2%
$68,603 – $97,377 3%
$97,378 and above 4%

 

2016-2017 repayment income thresholds and rates: 

Repayment Income Repayment Rate
Below $54,869 Nil
$54,869-$67,368 2%
$67,369-$95,626 3%
$95,627 and above 4%

 

2015-2016 repayment income thresholds and rates:

Repayment Income Repayment Rate
Below $54,126 Nil
$54,126-$66,456 2%
$66,457-$94,331 3%
$94,332 and above 4%

 

2014-2015 repayment income thresholds and rates: 

Repayment Income Repayment Rate
Below $53,345 Nil
$53,345-$65,497 2%
$65,498-$92,970 3%
$92,971 and above 4%

 

 For more information, please visit the Australian Government Student Assist website.

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