From 1 January 2017, the Commonwealth Government has set a course loan cap for each course. The loan cap is the total amount the student can borrow for the course. Most students will not be affected by the course loan caps. If there is a gap between the course fee and the course loan cap, you will be advised when you enquire about a gap payment. Course loan caps are published on the VET Student Loan page of the APC website. There is also a lifetime loan limit per student. This is the total amount you can incur in your lifetime under any Commonwealth HELP student loan scheme – whether it is Higher Education FEE-HELP, VET FEE-HELP or a VET Student Loan.
It is indexed each year, in line with the Consumer Price Index (CPI). In 2020, the lifetime loan limit is $106,319 for most students (for students studying eligible Aviation courses the limit is $152,700). Students can check their HELP balance and loan obligations by logging into myHELPbalance.
You will need your Commonwealth Higher Education Student Support Number (CHESSN) to log in. Please note, your HELP balance is renewable. Any compulsory or voluntary repayments starting from the 2019- 20 income year will top up your HELP balance. These repayments will be applied to your HELP balance from 1 July 2020 onwards, after you have submitted your tax return to the ATO. Repayments can be re-borrowed in the future, up to the current HELP loan limit.
