A Student Loan or HELP debt refers to the amount of money borrowed by a student from the Australian government to pay for their higher education fees.

HELP stands for Higher Education Loan Program, which is a loan scheme provided by the Australian government to help students cover the cost of their tuition fees.

The amount of the HELP debt is based on the total cost of tuition fees and is subject to indexation and an interest rate that is adjusted annually.

Repayment of the HELP debt is based on the income of the borrower and starts once their income reaches a certain threshold.

The repayments are made through the Australian tax system, with the amount deducted from the borrower's income before they receive it. The amount of the repayment is calculated as a percentage of the borrower's taxable income, with higher earners repaying a greater percentage of their debt.

This episode provides some tips on how to reduce this type of debt.

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