Help Debt Calculator

	A	B	C	D	E	F	G	H	Q	U
1
2	Financial Year Ending	2023/24							Should I pay off my HECS/HELP Debt before indexation Calculator (Made by larrythetomato for /r/AusFinance)
3	HELP/HECS Debt	10,000	(Get this from mygov/ATO)
4	Repayment income	90,000	(Your Taxable Income + any salary sacrifice, salary packaging etc)
5			See this to understand 'repayment income' https://www.ato.gov.au/Individuals/Study-and-training-support-loans/When-you-must-repay-your-loan/#Yourrepaymentincome						This tool calculates whether you should pay off your debt early
7									Instructions: Change the two orange cells. Look below. If you download a copy you can play around changing the yellow cells (and in the hidden rows) to get much more advanced settings
8	Advanced Settings
9	Date of Voluntary Repayment	15/05/2023	Date that you will make a voluntary payment this year, needs to be before 1 June to avoid indexation
10	Date of Tax Refund	18/08/2023	Date that you will receive your Tax Refund, usually a few days/week after you submit your taxes
11	Today	27/09/2025
12									With your HELP/HECS debt, you are in essence paying this interest to borrow:	100.00%
13										100.00%
14										Per Annum
15									If you can get a better return after tax, then you should keep the loan, otherwise pay it off.
16	More Advanced Settings (hidden rows)
77
78	HECS/HELP Repayment Schedule
79	Date	HELP Debt	Indexation Rate	Indexation Amount	Income	Repayment Rate	Repayment Amount
80	Now	10,000	7.1%	710	90,000	6.0%	5,400
81	2024/25	5,310	6.1%	321	90,000	6.0%	5,400	(Future Assumptions here)
82	2025/26	231	5.0%	12	90,000	6.0%	243	\|
83	2026/27	-	4.0%	-				\|
84	2027/28	-	3.0%	-				\|
85	2028/29	-	3.0%	-				\/
86	2029/30	-	3.0%	-
87	2030/31	-	3.0%	-
88	2031/32	-	3.0%	-
89	2032/33	-	3.0%	-
90	2033/34	-	3.0%	-
91	2034/35	-	3.0%	-
92	2035/36	-	3.0%	-
93	2036/37	-	3.0%	-
94	2037/38	-	3.0%	-
95	2038/39	-	3.0%	-
96	2039/40	-	3.0%	-
97	2040/41	-	3.0%	-
98	2041/42	-	3.0%	-
99
121
122
123	Return Calculator	Effective Rate	100.00%
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206