Owen Rascovitch

So a lot of undergrads, you'll see on their website, whether it's a full fee place or a Commonwealth supported place.

So that effectively, the Commonwealth supported place is effectively like if it was just, for example, $10,000 a year, a Commonwealth supported place might be $5,000.

So the other $5,000 doesn't go into your student debt.

No.

That's covered by the government.

It's subsidized.

So you get your Commonwealth supported place and then you can get HEX.

And if it's not a Commonwealth supported place, you can still get HEX in most cases.

Okay.

And when do you repay it?

So once you sort of sign up for HEX throughout the uni, as you accept your offer and enroll for your subjects, it's kind of an online form built in.

So it makes it very simple to pay for it all.

You don't have to exchange money at all.

And then you start paying for it later on.

So this actually changes quite a lot.

They change the

salary rates at which your HECS is taken out.

But essentially once you start working in a full-time job, the government will take extra money out of your tax to pay for your HECS debt.

Okay, so once you've reached a certain level of income, then a percentage starts to come out.

But is it, maybe this is too technical, but I can't remember if it's a percentage of the entire amount of your wage or if it's just like that little bracket, like the tax bracket.