HECS Repayment Information for Australian teachers
If you are an Australian teacher with a student debt planning to teach in the UK, it pays to know the situation with repaying your HECS debt.
It’s really important you get your finances in order when moving to the other side of the world.
Aussie teachers should let the ATO (Australian Tax Office) know that you are leaving the country and planning to teach in the UK. You can let the ATO know you are moving to the UK here.
Here’s the GOOD news for Aussie teachers with a HECS debt:
Unless you are earning more than $AUD 53,000 (£30,134 UK equivalent as per the exchange rate 10 May 2017), you don’t have to start paying this debt back. You do have the option to make voluntary contributions whilst you are overseas. Making voluntary contributions will, of course, reduce your overall HECS debt, which is indexed to inflation and rises each year.
You can read more about the current HECS repayment situation for expats here.
For any further advice about the cost of living in the U.K. or how much you will earn as a teacher contact your local Teach In branch.