Postgraduate Education Loan Scheme (PELS)
PELS provides an interest free, income contingent loan facility similar to the Higher Education Contribution Scheme (HECS) for eligible students enrolled in fee paying postgraduate non-research programs. New Zealand citizens and some Australian Permanent Residents are not eligible for PELS.
Please Note: This information is based on current advice provided by the Commonwealth Government. You are strongly advised to seek independent advice on your tax situation.
Unlike HECS, postgraduate coursework tuition fees are set by Universities, not the government.
PELS Applications, which can be lodged from UQ's online student administration facility, mySI-net, must be received by 31 March or 31 August. Only one application is required per program; a new form will only be required if you enrol in a new or different program or institution. To participate in the Scheme, you must provide a Tax File Number (TFN), or a certificate of Application for a TFN, to the University.
In any given semester, a student with a PELS approval has three options:
Use the PELS facility to cover the full tuition fee.
Use the PELS facility to cover part of the tuition fee and pay the balance up front (minimum payment $500).
Don't use PELS for any of the tuition fee. Pay the full amount up front.
PELS debts are added to existing HECS debts to form a single debt. The HECS income-contingent repayment arrangements (including the income thresholds) automatically apply.
The PELS is for tuition fees only. It will not cover any administrative or general service fees.
Within 30 days of the census date (31 March and 31 August), the University will provide a notice via mySI-net to all postgraduate coursework students who have a current PELS approval, whether or not they have used the PELS facility in that semester.
Depending on your tax situation, full or partial up front payment of tuition fees to the University may be deductible.
Please telephone the ATO on 132 861 for advice regarding tax deductions for PELS.
There is no discount for up front payments, but there is a "15% bonus" for voluntary repayments of $500 or more to the Tax Office. This might represent a favourable option for some students: those who have the cash but no claim for deductibility might take out a PELS loan but then make a full or part voluntary repayment as soon as the debt becomes due for a 15% "discount."
For further information please contact the UQ PELS Office:
Telephone: (07) 3365 2622
email: pels@uq.edu.au,
visit the government PELS website for the current online PELS information booklet: PELS Your Questions Answered,
or visit a Student Centre.
Please Note: This information is based on current advice provided by the Commonwealth Government. You are strongly advised to seek independent advice on your tax situation.
Unlike HECS, postgraduate coursework tuition fees are set by Universities, not the government.
PELS Applications, which can be lodged from UQ's online student administration facility, mySI-net, must be received by 31 March or 31 August. Only one application is required per program; a new form will only be required if you enrol in a new or different program or institution. To participate in the Scheme, you must provide a Tax File Number (TFN), or a certificate of Application for a TFN, to the University.
In any given semester, a student with a PELS approval has three options:
PELS debts are added to existing HECS debts to form a single debt. The HECS income-contingent repayment arrangements (including the income thresholds) automatically apply.
The PELS is for tuition fees only. It will not cover any administrative or general service fees.
Within 30 days of the census date (31 March and 31 August), the University will provide a notice via mySI-net to all postgraduate coursework students who have a current PELS approval, whether or not they have used the PELS facility in that semester.
Depending on your tax situation, full or partial up front payment of tuition fees to the University may be deductible.
Please telephone the ATO on 132 861 for advice regarding tax deductions for PELS.
There is no discount for up front payments, but there is a "15% bonus" for voluntary repayments of $500 or more to the Tax Office. This might represent a favourable option for some students: those who have the cash but no claim for deductibility might take out a PELS loan but then make a full or part voluntary repayment as soon as the debt becomes due for a 15% "discount."
For further information please contact the UQ PELS Office:
Telephone: (07) 3365 2622
email: pels@uq.edu.au,
visit the government PELS website for the current online PELS information booklet: PELS Your Questions Answered,
or visit a Student Centre.
