This seems to be true. You won't get a bonus for paying upfront, or for extra voluntary repayments on your existing debt:
Subject to the passage of legislation, from 1 January 2014, the Australian Government will remove the upfront HECS-HELP discount of 10 per cent for eligible students that pay their student contributions upfront and the voluntary HELP repayment bonus of five per cent.
Changes to the HECS-HELP discount and voluntary repayment bonus - Study Assist




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