4 ms·
10k AUD is 7.4k USD, combined with the fact that Australian HECS loans are repaid only when income passes a certain threshold ~54k AUD per year, at a rate of 2%
by phist_mcgee 5y ago
10k AUD is 7.4k USD, combined with the fact that Australian HECS loans are repaid only when income passes a certain threshold ~54k AUD per year, at a rate of 2% of your gross annual income. This scales to a maximum of 10% of your income around 90k AUD until the loan is paid. The loan also has no interest, besides adjustments for inflation.