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ActOn Wealth Team | March 20, 2025

Manage your HECS debt wisely for a brighter financial future!


Accumulating a substantial HECS-HELP debt can have lasting financial implications. To minimize this burden, consider strategic choices like selecting institutions with lower tuition fees, such as Charles Sturt University compared to the University of Sydney. Be mindful of census dates to avoid unnecessary debts, make voluntary repayments to accelerate debt reduction, and stay informed about annual indexation impacts. Explore scholarships and grants to offset costs. Partner with Acton Wealth for personalized financial guidance and embark on a path to financial confidence today.


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Accumulating a substantial HECS-HELP debt can have lasting financial implications. To minimize this burden, consider strategic choices like selecting institutions with lower tuition fees, such as Charles Sturt University compared to the University of Sydney. Be mindful of census dates to avoid unnecessary debts, make voluntary repayments to accelerate debt reduction, and stay informed about annual indexation impacts. Explore scholarships and grants to offset costs. Partner with Acton Wealth for personalized financial guidance and embark on a path to financial confidence today.
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"​Accumulating a substantial HECS-HELP debt can have long-term financial implications. To manage and minimize this debt, consider the following strategies. "

ActOn Wealth Team​Accumulating a substantial HECS-HELP debt can have long-term financial implications. To manage and minimize this debt, consider the following strategies.

ActOn Wealth Team

Team ActOn Wealth


Unlock Smart Strategies to Slash Your HECS Debt Today

​Accumulating a substantial HECS-HELP debt can have long-term financial implications. To manage and minimize this debt, consider the following strategies:​

Choose Your Institution Wisely

Tuition fees can vary between universities for the same course. For instance, a first-year Bachelor of Arts student at the University of Sydney might face fees around $16,323, while the same course at Charles Sturt University could cost approximately $13,960. Researching and selecting institutions with lower fees can significantly reduce your overall debt.

Withdraw Before Census Dates

If you're considering dropping a course or subject, ensure you do so before the census date. Withdrawing after this date means you'll still incur the associated HECS-HELP debt for that subject.

Make Voluntary Repayments

While compulsory repayments are income-contingent, making additional voluntary repayments can reduce your debt faster and decrease the impact of annual indexation. Even small extra payments can make a difference over time. ​

Stay Informed About Indexation

HECS-HELP debts are adjusted annually in line with inflation. For example, in 2023, the indexation rate was 7.1%. Being aware of these adjustments can motivate proactive debt management strategies.

Understand the Impact of Additional Income

Extra income from sources like bonuses or part-time work can increase your repayment income, leading to higher compulsory repayments. Planning for these scenarios can help you manage your finances more effectively. ​

Explore Scholarships and Grants

Many institutions offer scholarships or grants that can offset tuition costs, reducing the amount you need to borrow under HECS-HELP. Investigate available financial aid options at your chosen university.​

Partner with ActOn Wealth for Financial Guidance

Navigating student debt and planning for a secure financial future can be challenging. At ActOn Wealth, we provide personalized financial advice to help you manage your HECS-HELP debt effectively and align your financial strategies with your life goals.​

Contact ActOn Wealth Today

Embark on a path to financial confidence and freedom. Reach out to ActOn Wealth to schedule a consultation and discover how our tailored financial advice can support your educational and financial aspirations.​

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Finances In Your 30s. Are You Where You Need To Be?

If you want to look at how to manage money in your 30s, organise to catch up with a top financial advisor in Melbourne. However, meantime, here are some ideas to get you started!


If you want to look at how to manage money in your 30s, organise to catch up with a top financial advisor in Melbourne. However, meantime, here are some ideas to get you started!
Debt Recycling

Debt recycling is the process of replacing mortgage debt (non-tax deductible), with investment debt (tax deductible). This strategy may enable you to start building wealth while you are still paying off your home mortgage. You effectively take out equity from your home and invest somewhere else, where you may potentially increase income and growth.


Debt recycling is the process of replacing mortgage debt (non-tax deductible), with investment debt (tax deductible). This strategy may enable you to start building wealth while you are still paying off your home mortgage. You effectively take out equity from your home and invest somewhere else, where you may potentially increase income and growth.
Retire at 65, but Dont Retire Your Money

Australian retirees are facing a double whammy when it comes to funding their retirement. On the one hand we, as a nation, are enjoying longer and healthier lives. On the other hand, record low interest rates have slashed the returns on the traditional bedrocks of post-retirement investment portfolios such as term deposits, cash management accounts and annuities.


Australian retirees are facing a double whammy when it comes to funding their retirement. On the one hand we, as a nation, are enjoying longer and healthier lives. On the other hand, record low interest rates have slashed the returns on the traditional bedrocks of post-retirement investment portfolios such as term deposits, cash management accounts and annuities.

How can ActOn Wealth help?

Navigating student debt and planning for a secure financial future can be challenging. At ActOn Wealth, we provide personalized financial advice to help you manage your HECS-HELP debt effectively and align your financial strategies with your life goals.​

Navigating student debt and planning for a secure financial future can be challenging. At ActOn Wealth, we provide personalized financial advice to help you manage your HECS-HELP debt effectively and align your financial strategies with your life goals.​

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Questions
How can i be a tax efficient in Australia?

You can become more tax efficient in various ways, including salary sacrificing, claiming all relevant deductions, maintaining detailed and accurate financial records, contributing to your superannuation fund, making charitable donations, prepaying expenses, obtaining private health insurance and more. Speak to our experts for the best tailored advice for your situation.

What are some common mistakes to avoid when planning for retirement?

When planning for retirement in Australia, it's important to avoid common mistakes. These include delaying retirement planning, underestimating expenses, neglecting superannuation, lacking diversification in investments, ignoring government benefits, overlooking health and long-term care costs, not seeking professional advice, failing to regularly review and adjust plans, overestimating investment returns, and neglecting estate planning. By avoiding these mistakes and taking proactive steps, such as starting early, diversifying investments, and seeking expert advice, you can enhance your retirement readiness and financial security.

Why Do Medical Professionals Need Specialised Financial Planning Advice?

As a medical professional in Australia, you are in a fairly financially unique and privileged situation. Yet you are not without significant professional risks. At ActOn Wealth, we specialise in understanding these complexities, helping you mitigate risks while maximising your earning potential to secure a prosperous financial future.

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Early this year, Act On Wealth credit advisor HAYDEN DEWAR took the initiative and found a great deal then proactively approached me to offer a deal that can save $10,000+ of interest per year.
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Matt Jacobson at ActOn Wealth was superb. He was really easy to deal with and took a holistic approach to my finances, not just looking at the immediate picture but what to expect when my fixed-term loans expire in September and what to focus on going forward. I would recommend him to others.

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Manage your HECS debt wisely for a brighter financial future!

Manage your HECS debt wisely for a brighter financial future!

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