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Study and training loan indexation rates

See the indexation rates on your study and training loans which have been unpaid for more than 11 months.

Last updated 16 May 2024

Info Alert
2024 indexation

Indexation is applied to HELP debts on 1 June each year.

On Saturday, 1 June 2024 HELP debts will be indexed by 4.7% based on the Consumer Price Index (CPI).

In the Budget, the government announced changes to HELP and student support loan account indexation to be based on the lower of CPI or Wage Price Index (WPI). This means, if legislation is passed, your HELP debt will then be adjusted to reflect a lower indexation rate.

For more information about backdated indexation changes for 1 June 2023 and 1 June 2024 and how these changes will benefit you, use the HELP indexation credit estimatorOpens in a new window.

What we apply indexation to

On 1 June each year, we apply indexation to the part of your accumulated study and training loan that has remained unpaid for more than 11 months. This is for:

  • Higher Education Loan Program (HELP)
  • VET Student Loan (VSL)
  • Student Financial Supplement Scheme (SFSS)
  • Student Start-up Loan (SSL)
  • ABSTUDY Student Start-up Loan (ABSTUDY SSL)
  • Australian Apprenticeship Support Loan (AASL), formerly known as Trade Support Loan (TSL).

How we work out indexation

Indexation maintains the real value of the loan by adjusting it in line with changes in the cost of living as measured by the consumer price index (CPI). We calculate the indexation figure each year after the March CPI is released. It is based on Australian Bureau of Statistics figures collected over the previous 2 years. Your loan will grow over time if you don't make any compulsory or voluntary repayments.

The following table shows the indexation rate applied to all study and training loans.

Indexation rate table

Year

Indexation rate

2024

4.7%

2023

7.1%

2022

3.9%

2021

0.6%

2020

1.8%

2019

1.8%

2018

1.9%

2017

1.5%

2016

1.5%

2015

2.1%

2014

2.6%

2013

2.0%

Find out more about study and training:

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 CPI or the 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.

 

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