The Government has updated the repayment incomes and repayment rates for the Higher Education Loan Program (HELP) for the 2023-24 income year. The minimum repayment income for the 2023-24 income year is $51,550 and phases to a 10% repayment rate at $151,201 and above. The income levels and repayment rates for 2023-24 are listed in detail in the release.
In a similar vein, the ATO recently posted the study and training loan indexation rates for 2023. This is applied to the part of an accumulated study and training loan that has remained unpaid for more than 11 months, for things like HELP and VET Student Loan etc. The indexation rate for 2023 is 7%, up from 0.6% in 2021 and 3.9% in 2022.