13/12/2024
Here’s what you need to know...
1. You don’t need to do anything
2. The rate change applies to anyone with a study or training loan on 1 June 2023 or 1 June 2024
3. We’re backdating the credit and applying the excess to your study or training loan account.
👉 The rate change might leave you with a study or training loan account balance that’s less than zero. Good news – you’ve cleared the loan! 🎉 If you don’t have other tax or Commonwealth debts, we’ll refund the credit to your nominated bank account.
👉 If you're expecting a refund, make sure your bank details are up to date with the ATO or your tax agent.
👉 Going forward, the annual indexation is now based on either the Consumer Price Index (CPI) or Wage Price Index (WPI) – whichever is lower.
