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    Pay off HECS or invest

    Jul 28, 2021 5 minutes
    STORY DAVID THORNTON

    Young people earning money above and beyond their living expenses face a choice: pay down their tertiary education debt or invest?

    While everybody has their own unique circumstances, there are a few key things to keep in mind.

    If you undertook your tertiary education on a Commonwealth-supported place (CSP), you’ll likely have received a helping hand from the government in the form of a HELP loan. Your HELP debt is the money borrowed from the government to undertake tertiary education. That covers loans labelled as HECS-HELP, FEE-HELP, VET FEE-HELP, OS-HELP, SA-HELP and VET student loans.

    This money is paid back depending on your level of taxable income. If you earn less than $47,014, you don’t pay anything. Between $47,014 and $54,282 you’ll pay back 1% of your taxable income annually, which increases incrementally through to a 10% for those

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