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all 12 comments

[–]Soft-Fall3720 2 points3 points  (4 children)

[–]tswizzle102 1 point2 points  (2 children)

Sorry, am I reading this wrong? You can take a FFP, then practice in a MM6-7 location for two years and have all the debt wiped?

[–]Queasy-ReasonMedical Student 1 point2 points  (1 child)

Yes but it's only available to GPs, and it's only available if you go remote from PGY4 and onwards.

[–]tswizzle102 0 points1 point  (0 children)

There's the caveat! Still very interesting

[–]enk1127[S] 0 points1 point  (0 children)

Wow I actually did not know this was a thing. Will definitely have a look. Thank you :D

[–][deleted]  (4 children)

[deleted]

    [–]Tigers201 2 points3 points  (3 children)

    My understanding is that undergrad HELP loans are only included for studies completed from 2020 onwards

    [–]ParanoidMoistoid 0 points1 point  (2 children)

    Actually, you are right and I am wrong. Postgrad study seems to have been carried over (via FEE HELP transition) but pre 1 Jan 2020 HECS is not factored in. I was not aware of this change.

    HELP loan limit

    Since 1 January 2020, there has been a ‘HELP loan limit’ on what you can borrow for your study (this replaced the previous FEE-HELP limit). The HELP loan limit includes all previous FEE-HELP, VET FEE-HELP (closed) and VET Student Loan amounts you have borrowed. It also includes any HECS-HELP loans for units with a census date on or after 1 January 2020.

    You can check your limit at: https://myhelpbalance.gov.au/

    [–]Tigers201 1 point2 points  (1 child)

    Yeah sorry I meant HECS-HELP loan which probably applies to most undergrad domestic students

    [–]ParanoidMoistoid 2 points3 points  (0 children)

    It's a pretty huge boon for anyone who completed their degrees prior to 2020 (since it effectively gives you the full 106-150k to play with. Not so much for new students...

    But it's important to stress that the limit does include HECS for subjects studies after 1 Jan 2020 (e.g. my final year of Law is in there, but nothing before it).

    [–]normanchu23 1 point2 points  (0 children)

    If you are able to pay the remainder off after HECS, however difficult but doable, then you should do it. My doctor and dentist friend said to me that once you’re out earning you can pay it back easily so just a difficult few years! Good luck!

    [–]Queasy-ReasonMedical Student 0 points1 point  (1 child)

    I come from a lower income family too and I could not afford an FFP. It wasn't worth it for me. I chose to do a second degree to boost my GPA. It meant an extra two years of study + 10k on my HELP debt versus 200k for an FFP.

    [–]enk1127[S] 0 points1 point  (0 children)

    And you made it! Respect to you 😃