You can improve your earning ability by attending a secondary education program. Whether you decide to go to university and get a bachelor’s degree or you opt to get a certificate to qualify for a specific profession, you will need to have a way to pay for school.

There are a number of ways to do this, and the Australian government has set up a wide number of programs designed to help you to reach your educational goals. These options in addition to other considerations will help you fund your education and living expenses.

Determining Where to Go and What to Study

When you are considering your options, you want to choose a career that will allow you to earn a decent living that you will enjoy doing throughout your life. You want to make sure that the amount that your paying for your education will have a positive impact on your earning power.

Another consideration you should have is whether or not the program you are choosing qualifies for the HELP program that the government offers. This is a good idea whether or not you are planning on using the program or paying for it yourself. Your circumstance may change, and it is important that you have the ability to pay for your classes and finish your degree if possible.

Finding a Way to Pay

Once you have determined where you want to attend school or earn a certificate, you will need to determine how you pay for your school fees and living expenses while you are in class. The lower you keep costs, the better off you will be after you graduate from university or you receive your certificate. In addition to the HELP program, you may want to consider other ways to pay for a portion of your fees.

HELP with Your Fees

The HELP program is designed to allow students who cannot pay for college on their own still be able to attend college. This is a loan program, and you will need to pay back all of the money that you power to attend school. You can work on limiting the amount you borrow through reducing your expense.

HECS-HELP: This loan will pay the fees for attending classes. You will receive a student contribution amount that you will need to pay, and then the rest of the fees will be applied to the loan amount that you will have to repay once you are working.

SA-HELP: This loan is designed to cover the non-academic fees that your school may charge you. This includes charges for student services, and it will be repaid the same way as the HECS-HELP loans.

OS-HELP: This program is available for Australian students who want the opportunity to study abroad. It is a loan and will need to be repaid after you graduate and you are working.

VET FEE-HELP: This is designed to help students enrolled in vocational training or who are toward a certificate to receive help through the loan program. The repayment options are the same as wit other HELP loans.

In order to qualify for these loans, you must be an Australian citizen or hold a humanitarian permanent visa. You will also need to submit an application form with your provider. You should try to limit that amount you borrow as much as possible.

Paying Back Your Loan

When you take out one of the five HELP loans, you will be required to pay the loan back from future payments. The payment process is easy because the taxation office takes care of them. When you meet the minimum income threshold for repayment, you will begin having a percentage of your annual salary withheld until you have paid the entire amount back that you owe. For the 2013-2014 tax year the minimum payment amount is $51,309. The percentage withheld starts at 4.0 per cent of your income and gradually increases up to 8.0 per cent of income if you make more than $95,288 a year.

You do have the option of making extra payments yourself. You can make them to the ATO. These voluntary payments are in addition to the compulsory payments made through salary deductions, but they can speed up the amount of time that it will take to pay off the loan. Additionally if you make payments over $500.00, you will have an additional 5 per cent of the payment added to the reduction of your loan. This means if you pay $500.00, you will have an extra $25.00 taken off the total balance of your loan.

The HELP loans are not forgiven in a bankruptcy. You will still have a portion of your salary withheld until the loan is paid off in full. However, you are not charged interest on your loans. They will be adjusted so that you are paying the current value of the loan. If you have a difficult time with the payments due to specific circumstances, you can talk to the ATO about your situation to see if there is a solution to your problem.

Paying Your Fees Yourself

Although the government does give you the option for the loan to cover your college fees, you may want to consider paying for your tuition yourself. This allows you to increase your earning power, because you will not have to pay the money back over the years with your future salary. If you have the money available or if your parents can help you pay for school this can save you money on your college expenses in the future.

You may want to work part-time while you are attending university or you can work over the breaks and save money to cover the costs of all or part of your fees. You may also need to pay for the fees yourself if you do not attend a program that is approved under the list for the HELP payments that government offers.

Check out this guide on how to budget as a student.

Don’t Forget About Scholarships

In addition the HELP loans and paying your fees yourself, you should apply for as many scholarships and grants that you may be eligible for. Each university will offer some sort of scholarship program, but you can also apply to private scholarship funds and for government scholarships depending on your situation.

Scholarships do not need to be repaid, which makes them the best way to pay for school. It is worth setting aside time each year to apply for a number of scholarships in order to reduce the overall costs of your education.

Check out Pocketbook-Zookal scholarship, for example.

Paying for Living Expenses

In addition to paying tuition and fees, you need to be prepared to pay for books, and your living expenses while you are attending your program. You can work to keep costs down by sharing housing with other students and living a frugal lifestyle. This will make it easier to manage your daily living expenses. One way to keep these costs lower is to continue to live at home while attending university Of course this is not always possible for everyone that is going to school.

The government provides additional help for students and youth who are currently looking for work and need help covering their daily living expense. These programs are income based, and unless you have been declared independent, you will need to include your parents’ income on the application form until you are 22 years old. You can apply for these payments through human services.

• Youth Allowance is paid to people between the ages of 16 and 24 who are attending school or working on an apprenticeship or certificate.
• Austudy is designed for students who are over 25 years old and who are enrolled in a school full time. If you are completing an apprenticeship you can also qualify.
• Abstudy is a program designed for Aboriginal students, Torres Strait Islander who is attending school or earning an apprenticeship.

The amount that is paid for each of these programs depends on a number of factors including your living arrangements, whether or not you have children or you are single or married. You need to report your income during these periods, which may also affect the amount that you receive for any of these programs.

If you are attending school, you may also qualify for help paying for childcare while you are in class. There is also a Relocation Scholarship available to students who must live away from home to complete their university studies. In order to qualify for this you will also need to qualify for Youth Allowance or Abstudy.

Many students are able to work in addition to attending classes. This can give you extra money to cover your expense and the freedom you need to still have fun while completing your university students. As you consider the different jobs available, you should look at jobs that can help you in future career field or that will offer a higher rate of pay.