ATAR Notes: Forum

VCE Stuff => Victorian Education Discussion => Topic started by: AskQuestions on February 26, 2011, 05:19:25 pm

Title: Loans while in University
Post by: AskQuestions on February 26, 2011, 05:19:25 pm

What is the interest on a student loan?

I read somewhere that it is 0% until you earn $40,000 a year. Is that true?

Title: Re: Loans while in University
Post by: _avO on February 26, 2011, 05:29:26 pm

It is indexed every financial year (end of June) to reflect changes in the Consumer Price Index (Average is about 1.5%-2.5%) but apart from that it's interest free.

Once you earn about 45k you are taxed about 5% of your earnings to repay the debt which is involuntary.