1) Interest-Free Government Loans
FEE-HELP is an interest-free loan facility for Australian Citizens who are enrolled in a Graduate Certificate course. It is similar to the deferred payment arrangements previously available under the Higher Education Contribution Scheme (now called HECS-HELP) and enables students to obtain a loan from the Commonwealth Government to pay all or part of their tuition fees incurred.
Q: What do I need to do to get the loan?
A: You will be given the option of funding your studies via FEE-HELP at the same time that you are offered a place on the Graduate Certificate.
Q: How is the loan repaid?
A: Students repay their loan through the Australian taxation system once their income reaches the minimum threshold for compulsory repayment.
Q: Can I get a bonus for voluntary repayments?
A: Yes, if you make a voluntary repayment of $500 or more, you will receive a bonus of 10% of the repayment you make.
Q: Are my repayments tax deductible?
A: As of 2010, The FEE-HELP Website says the following:
Tax deductions for tuition fees and loan repayments
If there is a direct connection between your education and your work activities then you may be entitled to a tax deduction for your tuition fees even if the Commonwealth paid these tuition fees on your behalf through FEE-HELP.
Please note that the above was as of 2010. Prospective students should check the Going to Uni Website to confirm that the above is still current.
2) Pay as you go
If students pay themselves at the beginning of each Semester, the Australian Tax Office allows the following work related study expenses may be claimed:
- textbooks
- stationery
- student union fees
- the decline in value of equipment used in study, such as a computer.
Please note that the above was as of April 2005. Prospective students should check the Australian Tax Office Website at: http://www.ato.gov.au/content.asp?doc=/content/Individuals/18843.htm&page=4#H11
to confirm that the above is still current.
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