Going online
We keep track of any loans you have deferred for payment through the tax system. Your account contains a record of your loan (or loans) including:
- indexation amounts
- voluntary and compulsory repayments
- overseas levy amounts.
You can use our online services to view your loan account and other information, such as your payment reference number (PRN) and voluntary repayment options.
To access our online services for individuals, you need to create a myGov account and link it to the ATO.
If you already have a myGov account linked to the ATO, you can log in at any time.
Find the balance of your loan accounts:
To locate the balance of your loan accounts:
- Access ATO online services.
- Select Tax.
- Select Accounts.
- Select Loan accounts.
You can make voluntary repayments at any time to reduce the balance of your loan.
Sign in to myGov and update detailsAs your loan information is transferred to us from other government agencies, there may be a delay between when you acquire the loan and when it is reflected in your loan balance.
At any time during the year, you can contact us to request a statement.
Indexation
Indexation is when your loan is adjusted to reflect the changes in the cost of living. Your loan may grow over time if no compulsory or voluntary repayments are made. Indexation maintains the ‘value’ of the education so that no matter how long it takes to repay, a student would repay an amount that is more like the cost of education today. The indexation figure is calculated each year after the March CPI is released.
There is no interest charged on loan accounts. However, when your loan is more than 11 months old, the balance is subject to indexation, which is applied on 1 June each year.
Indexation rate calculation change
On 5 May 2024, the government announced that it will cap the HELP indexation rate to be the lower of either the:
- Consumer Price Index (CPI)
- Wage Price Index (WPI).
The government will backdate this relief to all HELP, VET Student Loan, Australian Apprenticeship Support Loan and other student support loan accounts that existed on 1 June 2023. This change will take effect when legislation is passed.
For more information, see Study and training loans – what's new.
Examples: HELP loan indexed
Example: all of loan indexed
Erin has $9,000.00 of HELP loan left to repay from studies that she undertook in 2015–17.
On 1 June 2023, the HELP loan was indexed at 7.1% ($9,000 × 7.1% = $639.00).
As at 1 June 2023, Erin owes ($9,000 + $639.00) = $9,639.00.
End of example
Example: some of loan indexed
Juan Carlos started his undergraduate degree in 2022. He has a HELP loan of $15,600.00.
His fees of $4,800.00 from the first semester (census date of 28 March 2022) will be indexed on 1 June 2023 as they are more than 11 months old ($4,800 × 7.1% = $340.80).
The remaining fees from semester 2, 2022, and semester 1, 2023 won't be indexed on 1 June 2023 as the loans are not yet 11 months old.
As at 1 June 2023, Juan Carlos owes ($15,600.00 + $340.80) = $15,941.00.
End of example
Example 3: indexation over years
Melinda undertook a 3-year undergraduate degree from 2020–22. She hasn’t made any repayments yet. Her HELP loan was indexed each year as follows:
- 1 June 2020 – no indexation was applied, as no part of the loan was 11 months old yet.
- 1 June 2021 – the part of the loan that was 11 months old (Semester 1, 2020) is indexed at 0.6%.
- 1 June 2022 – the part of the loan that was 11 months old is indexed at 3.9%.
- 1 June 2023 – the part of the loan that was 11 months old is indexed at 7.1%.
For more information, see Study and training loan indexation rates.