Got spare cash? Here's how the numbers work.

You have a HECS-HELP debt and some money left over each month. This tool shows the maths behind four common approaches. It does not tell you which to choose.

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This is a guide, not advice. It uses estimates and assumptions that may not match your situation. Consider speaking with a financial adviser before making decisions.

Your Numbers

Fill in the top three. The rest are already set with reasonable defaults.

The amount showing in your ATO or myGov account
$
$
How much you could put toward any of these options
$
%
How much your debt grows each June. Currently 3.2%.
%
yrs
Long-term average for an index fund, before tax
%
Current high-interest savings rate, before tax
%
Long-term average for a balanced super fund
%
ATO 2025-26 rates • HECS increase 3.2% (June 2025)

Your HECS at a Glance

The numbers are a starting point. Not the answer.

What matters most is what you need the money to do. Security, a home deposit, long-term growth, or just peace of mind. That is yours to decide.

Where You'd Be Over Time

Each line shows what you'd have built minus what you still owe on HECS. Same monthly amount, four different uses.

How to read this: A positive number means you're ahead . You have built more than you owe. A negative number means your HECS is still larger than what you've saved or invested.

These lines assume steady returns every year. Real results will be different.

Four Ways to Use Your Spare Cash

Each works differently. The numbers are above. Here is what each option actually means.

Year-by-Year Detail

Your HECS debt grows slightly each year on 1 June (called indexation). Here's how that plays out.

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Important: This calculator is a guide only. It doesn't know your full situation and isn't financial advice. Consider speaking with a financial adviser before making decisions.

HECS-HELP rules can change. Check the latest rates at ato.gov.au.

What this tool assumes: Repayment rates use the 2025-26 ATO schedule. Your HECS balance grows each year on 1 June. All returns (investments, super, savings) use the rates you enter and stay constant. In reality they will not. Growth is calculated monthly.

Super: Contributions are taxed at 15% going in. Your employer's contributions (12% of your pay) count toward the $30,000 yearly limit. The tool flags if you're over that limit but doesn't account for unused amounts from previous years. Super is locked away until you're 60, with limited exceptions like the First Home Super Saver Scheme. Fund fees aren't included in these numbers.

Investments and savings: Returns shown don't include tax on profits, brokerage fees, or fund management costs. Interest on savings is taxed as income. These factors would reduce the actual returns.

HECS extras: Voluntary repayments can't be claimed on your tax and can't be refunded. Once your HECS is paid off, the money that was coming out of your pay keeps going to the same place (investments, super, or savings depending on the option). Every person's situation is different.