Higher Education Contributions Scheme (HECS)

The Higher Education Contributions Scheme (HECS) is an Australian system that helps students pay for university courses. Instead of paying the full tuition upfront, students receive a loan from the government to cover costs. They only start repaying the loan once their income exceeds a certain threshold, with repayments calculated as a percentage of their earnings. This system makes higher education more accessible by spreading costs over time, aligning repayment with earning capacity, and reducing immediate financial burden during studies.