Do you have a Study or Educational Loan?

The government provides financial assistance (in the form of loans) to people undertaking higher education, trade apprenticeships, and other training programs. The ATO have a responsibility for the collection of these loans through the tax system.

These are income-contingent loans and when your income exceeds the repayment threshold, you will have to start repaying your loan. Compulsory repayments are made through the tax system. You may also make voluntary repayments to reduce your balance faster.


How do you find the details of your loan

The ATO keeps track of any loans you have deferred for payment through the tax system. Your account contains a record of your loan (or loans) including:

  • indexation amounts
  • voluntary and compulsory repayments
  • overseas levy amounts

You can use our online services to view your loan account and other information, such as your payment reference number (PRN) and voluntary repayment options.

To access our online services for individuals, you need to create a myGov account and link it to the ATO.

If you already have a myGov account linked to the ATO, you can log in at any time.



When you must repay your loan

You must start making compulsory repayments against your study or training support loan when your repayment income exceeds the minimum repayment threshold. This is even if you are still studying or undertaking an apprenticeship.

The repayment thresholds are adjusted each year to reflect any changes in average weekly earnings.

Compulsory repayments are made through your tax return. You can also make voluntary repayments at any time to reduce your loan balance.


For further assistance in finding out whether you have a loan debt or how to make extra repayments talk to the expert team at STS Accountant Group today.