If you’re a full-fee paying undergraduate, postgraduate, UniLink or Open Universities (OUA) student, a FEE-HELP loan can help you pay all or part of your tuition fees.
How do FEE-HELP loans work?
Through FEE-HELP, the Australian Government pays some (or all) of your tuition fees to Swinburne on your behalf.
If you don't want to (or can't) pay for your full-fee paying course up-front, a FEE-HELP loan allows you to pay back the Australian Government through the tax system once your taxable income is higher than the minimum repayment threshold.
The Australian Taxation Office (ATO) calculates your compulsory repayment for the year and includes this on your income tax notice of assessment. On top of the compulsory amount, you can make additional voluntary repayments to the ATO.
You must supply your Tax File Number (TFN) when you apply. If you fail to pay your fees in full up-front (or apply for a FEE-HELP loan) and supply your TFN by the census date, your enrolment will be cancelled.
The outstanding balance of your FEE-HELP loan will increase each year with the Consumer Price Index (CPI).
A loan fee is added to FEE-HELP loans for undergraduate students. So, the amount you need to pay back (as of 1 January 2021) will be 20% more than the cost of your course. This 20% loading does not apply to postgraduate students.
You will also need to pay the Student Services and Amenities Fee (SSAF). This is billed twice a year and is compulsory for all local undergraduate and postgraduate students. The SSAF is calculated based on your course load up to a maximum of $308.
The SSAF is not covered by your FEE-HELP loan.
If you need financial assistance to cover this cost, you can also apply for a SA-HELP loan.
In each teaching period, before the census date, you can:
- pay nothing upfront and incur deferred FEE-HELP debt
- pay part of your tuition fees upfront and the balance will accrue to your FEE-HELP debt.
You can pay by logging in to My Financials. Check your Statement of Account for the amount and choose your preferred payment method.