Studying for a higher education qualification may take many years to complete, and within this period of time there is no guarantee that your personal circumstances will remain the same or that you will continue to be able to study.
If you apply for an income assessed loan and you, your partner, or your parents' personal circumstances change, then it is important that you inform educational provider and Centrelink, so that they can reassess your loan entitlements. This reassessment is free of charge.
If your university or college requires you to repeat a year of study, you may not necessarily be entitled to any financial support for the repeated year, but you are still entitled to apply for tuition fee and student income support.
Should you choose to change or defer your course, for example to take a gap year, approval must first of all be sought from your university or college, and you may have to undergo another reassessment from your educational provider. If a deferral is necessary due to reasons out of your control, it is unlikely that the amount of financial support which you will be granted will change.
For many students, higher education is a positive and enriching experience. However, you may find that a university or college degree, diploma or certification was simply not the right choice for you, or that you are unable to continue with your studies. If this is the case and you have already received loan payments, you are still liable to pay off the total value of any loan sum that you have received as well as any interest due. Withdrawing from your course gives you the same terms of repayment as those who graduate however: you must only begin to make repayments, once you are earning above the threshold amount or more annually (see Repayment). It is your responsibility to be aware of all requirements regarding your HELP loan. This section will explain your obligations and your options to repay your loan. Once you incur a HELP loan it becomes an 'accumulated HELP debt'.
