How much discount do I receive if I make a payment up front towards my student contribution amount?
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This questions only applies to Commonwealth supported students
Up front payments of $500, or more, towards your student contribution amount will receive a discount of 10%. However, that there are other eligibility requirements for discounts, so please see the Student Finance website for more details.
Your invoice shows how much discount you will receive if you paid the total amount. To calculate how much your tuition fees will be reduced when making partial payments, divide your payment amount by 0.9. For example
Marnie undertakes 4 units as part of her Bachelor of Engineering, all with a
census date of 31 March 2012, and is eligible for HECS-HELP. The total student
contribution for these units is $3,000.
Marnie makes a partial up-front payment of $500 before the census date, which
means her payment, including the discount, is $500/.9 = $555.56.
Her HECS-HELP debt will therefore be $3,000 - $555.56 = $2,444.44.
Please note: From 1 January 2012, the
Australian Government has lowered the HECS-HELP discount, applied to up-front
student contribution payments of $500 or more, from 20 per cent to 10 per cent.