HECS $500 Discount? (1 Viewer)

[Striker999]

Yes this is a question about HECS
Now as i'm using HECS .. and i was just wondering
To get the 20% discount you have to pay $500 ?
Is this a once-off or do i pay $500 every semester or every year?
I have no idea how often i have to pay the $500 to keep this 20% discount... I'm doing a 5year course

 

[Makro]

you only get 20% off if your payment is $500 or more. So you can make as many as you want. If you pay $500 it'll take off $625. If you pay $400, it'll take off $400.

Tbh, don't bother trying to give voluntary payments with HECS. Just enjoy yourself with any extra money you have. The money wont grow from interest, you'll be right when you need to make the compulsory payments with your full time course.

 

[Striker999]

What?
you only get 20% discount off the amount u pay?
oh hahaha thats fail then....
btw, so is it every semester we get another chance to get 20% off ?

 

[Makro]

Any voluntary payment you make that is over $500 gets the discount.

What were you expecting? Make voluntary payments and the whole thing gets cut off by 20%?

 

[M@ster P]

you only get 20% off if your payment is $500 or more. So you can make as many as you want. If you pay $500 it'll take off $625. If you pay $400, it'll take off $400.

Tbh, don't bother trying to give voluntary payments with HECS. Just enjoy yourself with any extra money you have. The money wont grow from interest, you'll be right when you need to make the compulsory payments with your full time course.

I dnt get how this works, you mean 20% off the entire cost of the subject for that semester u paid $500 off for?

 

[flyingKangaroo]

It's all explained in the HECS-HELp booklet.

Basically, if you make a payment over $500 towards your student contribution, multiply that amount by 1.2 and that is how much you are 'actually' paying, since there is a 20% discount - another way to think of it is that the Gov is paying another 20% ontop of what you pay.

So if you pay $500 for this semester's fees, 500 x 1.25 = 625. If you pay $1000. 1000 x 1.2 = 1250 etc.

It's not 20% off your entire HECS debt - merely an additional 20% ontop of upfront payments of your contribution each semester.

I dnt get how this works, you mean 20% off the entire cost of the subject for that semester u paid $500 off for?

You're not paying for subjects individually, you pay your contribution towards your total semester fees. Like I said above, it isn't a 20% discount off your semester fees, but an additional 20% payment of what you pay that is $500 or over.

 

[RDX]

Remember guys, As far as I know, there's no interest on HECs, it only gets adjusted for inflation to convert it from nominal to real figures.

 

[roookie]

how do you know the total cost of your fees?

 

[flyingKangaroo]

how do you know the total cost of your fees?

For my uni, UQ, fees are accesible through the student portal that also allows you to enrol in classes etc. Will be different depending on the uni, check their website or the paperwork that came with your enrolment stuff.

 

[Makro]

how do you know the total cost of your fees?

Each subject is usually worth ~$950 given they're regular length.

 

[RDX]

Also it would depend which band it'd fall in. Some subjects are only $500 or so as opposed to $950.

 

[Kakashi Hatake]

Well isnt it better to pay $500 and save $100 then every semester if you have the money?

 

[Ritz1024]

Well, i think it depends on unit level. As for MQ 2nd and 3rd year units cost $1170 each and core units cost only about $570.

 

[izzy88]

Well, i think it depends on unit level. As for MQ 2nd and 3rd year units cost $1170 each and core units cost only about $570.

really? I thought subjects were priced on which band they were in, rather than their level. For example, all my Law units are about $1000 and my arts subjects are $600- despite whether they are first year subjects or third year ones.

Anyway, if you have the money, it's probably good to pay a contribution- its not like it will do any harm. It just means you have less to pay back later.

 

[Ritz1024]

really? I thought subjects were priced on which band they were in, rather than their level. For example, all my Law units are about $1000 and my arts subjects are $600- despite whether they are first year subjects or third year ones.

Anyway, if you have the money, it's probably good to pay a contribution- its not like it will do any harm. It just means you have less to pay back later.

Haha, yeh my bad just checked and yes it's based on Band level.

 

[micuzzo]

the discount should prolly be called a bonus... its not really a discount [because its not off the total cost now is it?]

 

[I Study Hard]

I paid over $3,000 upfront so that my whole semesters fee's would be taken care of xD
I think it saves more money the more you pay off.
(I'm doing a law/comm degree which are one of the expensive bands)

 

[dawdlex3]

I pay upfront as well and I get 20% off this semester's tuition fees.

 

[babikakez]

I paid over $3,000 upfront so that my whole semesters fee's would be taken care of xD
I think it saves more money the more you pay off.
(I'm doing a law/comm degree which are one of the expensive bands)

Same, I paid $2400 (without the discount my semester would have been around 3000) - I'm in Comm/Arts.