Extension Of The FEE-HELP Loan Fee Exemption To 31 December 2022
Subject to the passage of legislation, the Government is further extending the FEE‑HELP loan fee exemption until 31 December 2022 to continue to encourage local students to study during 2022.
When the relevant legislation passes, the loan fee exemption will be applied automatically to applicable FEE‑HELP loans which were reported to TCSI with a Loan Fee (E529). TCSI validation 10847 will be updated at the same time to ensure newly reported loans have the correct loan fee. Providers should consider if their processes or software will require updating so that they can report zero dollar loan fees when required.
Until then, providers should continue to report loan fees as per the current legislative requirements, i.e. 2022 undergraduate FEE-HELP loans should be reported with the 20 per cent loan fee.
VET Student Loans are not included in the planned extension for 2022.