Key takeaways
- The path: myGov › ATO online services › Tax › Accounts › Loan accounts. In the ATO app it is just Accounts on the Home screen.
- The loan account lists indexation, repayments, the 20% reduction and any overseas levy, plus the payment reference number for voluntary payments.
- myHELPbalance.gov.au shows your remaining borrowing room under the HELP loan limit, not your debt. For the debt, use the ATO through myGov.
- The balance moves once a year each way: up on 1 June with indexation, down when your tax return is assessed.
- Payslip HECS deductions do not reduce the balance during the year; they sit as credits until assessment.
- New study loans can take time to appear, because course data comes from other agencies before the ATO records it.
The four clicks
- Sign in to myGov
At my.gov.au. If you have never linked the ATO, do that once from Linked services; you will need identity documents or a myID digital identity.
- Open ATO online services
Select ATO from your linked services list.
- Select Tax, then Accounts
Both sit in the main menu of ATO online services.
- Select Loan accounts
Your HELP account appears with its current balance and full transaction history. Using the ATO app instead? Log in and pick Accounts straight from the Home screen.
Work out how fast it will clear
Once you have the balance, the next question is what this year's income knocks off it. The HECS repayment calculator applies the 2026-27 thresholds to your salary and shows the compulsory repayment headed to the loan at assessment.
What the loan account shows
Every event in the life of the loan is a transaction line:
On the account
- Indexation applied each 1 June
- Compulsory repayments from assessments
- Voluntary repayments you have made
- The one-off 20% reduction and its adjustments
- Overseas levy amounts, if you work abroad
Also there
- Your payment reference number (PRN) for voluntary payments
- Voluntary repayment options
- Separate accounts per loan type (HELP, VSL, SFSS)
Study loans carry no interest, so those indexation lines are the only growth you will ever see. How the rate is set, and the 2.8% applied in June 2026, is covered in HECS indexation.
Working overseas does not make the account go quiet either. The debt does not pause when you leave Australia: the ATO can raise an overseas levy on foreign income above the repayment threshold, and those amounts appear on the same loan account, so expats should check the balance from abroad the same way. Planning an extra payment? The PRN on this screen is the number you will need, and paying off HECS early covers the mechanics and timing.
myHELPbalance is not your debt
The other official site, myHELPbalance.gov.au, answers a different question: how much you can still borrow. It shows your available HELP balance under the combined loan limit that covers HECS-HELP, FEE-HELP, VET FEE-HELP and VET Student Loans, and the site itself says plainly that it shows the amount you can still borrow, not your current debt with indexation. Students planning further study should check it; anyone trying to pay a debt down should ignore it and use the ATO figure. The two numbers can differ by thousands, because indexation raises your debt without touching your borrowing entitlement.
Why the balance differs from what you borrowed
Four forces separate today's balance from the sum of your original course fees:
- Indexation each 1 June
Balances more than 11 months old grow by the year's rate, 2.8% in June 2026. A decade-old debt has been indexed ten times, and the 2022-2024 inflation years added most of the drift.
- Repayments land once a year, not per payslip
The HECS taken from your pay is withholding, held as a credit until your return is assessed. Mid year, the loan balance looks untouched even though you have been paying all along. The rates behind the annual figure are in HECS repayment rates. The payday amounts themselves show as the study loan line in the PAYG calculator.
- The one-off 20% reduction
Calculated on balances at 1 June 2025 and processed from December 2025, with the 2025 indexation recalculated on the reduced amount. A $30,000 balance at that date received a $6,000 credit. Accounts left in credit were refunded.
- New loans arrive late
Course debts are reported to the ATO by education providers and other agencies, so a semester's borrowing can take a while to show. A balance that looks too low may just be missing the latest census date.
Cannot see your loan information?
If the Loan accounts screen is empty or clearly behind, the data transfer may still be in progress. You can phone the ATO at any time and request a statement of your account. While you are in ATO online services, the Employment menu on the same screen holds your income statement, which is worth checking in the same sitting if you are preparing to lodge; the tax withheld line there includes your HECS withholding.
Frequently asked questions
How do I find my HECS debt balance?
Can I check my HECS debt without myGov?
Is myHELPbalance my HECS debt?
Why has my HECS debt gone up when I make payments every fortnight?
Where do I see the 20% reduction?
Why is this semester’s loan not showing?
Does my HECS debt show on my payslip or income statement?
When does the balance update after I lodge my return?
Sources and further reading
- ATO: View your study loan account online (access paths and 20% reduction detail; accessed 28 July 2026)
- myHELPbalance.gov.au (available borrowing under the combined HELP loan limit)
- ATO: Study and training loan indexation rates
Related resources
HECS Repayment Calculator
What this year’s income takes off the debt
Open →HECS Indexation
Why the balance grows each June
Open →Pay Off HECS Early
Voluntary repayments, timing and trade-offs
Open →
Narelle Hartigan is a CPA-qualified tax accountant with over a decade of experience in Australian personal taxation and payroll. She founded PAYG Calculator Australia to make tax withholding easy for every Australian worker to understand.