It’s pretty easy to forget that uni isn’t free. I mean, most of us don’t even think about our HECS debt after ticking that box during enrolment, which essentially states, “help me, I’m poor”.

Accepting HECS debt is like the Australian government saying, “It’s my shout mate, pay us back later”. Hey, cheers dude you’re the best! Yep, they sure is the best, up until they slide you the bill.

Before scaring you into dropping all your subjects and fleeing to a foreign land in an attempt to avoid the ATO, I’ll preface that it’s honestly not that bad. In saying that, there’re still some things I wish an adult had told me about my HECS debt.

For your convenience, here they are.

#1 There Are Ways Of Lowering It

When it comes to choosing your uni courses, read your course handbook carefully – things like electives are something to triple-check. You may think you’re pulling a swift one on your course coordinator by only enrolling in first year electives throughout your degree for an easy pass, but chances are you’ll need to retake the correct courses on top of paying for those deemed irrelevant.

Another thing I wish I knew is that there’s no shame in dropping a class that you’re certain you’re going to fail. I remember sitting in front of my laptop one week before census date, averaging out my grades for one subject I was really struggling with, clearly seeing that it was very unlikely I could scrape by with a P.

Instead of being rational and dropping the subject with no financial or academic penalty, my dumb pride kicked in as I told myself I wasn’t a quitter.

As a result I failed the subject. I had to retake it, messing with my otherwise decent GPA and having to pay for the course twice. Don’t be me, trust your gut.

#2 You Probably Won’t Even Realise You’re Paying It Off

Like tax, HECS just sneaks on out of your pay before that direct deposit hits. You’ll be too busy ballin’ in your newfound riches to think about the small amount that’s put aside to pay off your student loan.

No need to stress over it too much.

#3 You’ll Only Start Paying It Back When You Can Afford It 

When you’ve finished uni and are out in the real world thinking about how much you owe can be stressful, but you’re not expected to start paying back HECS until you can afford it.

According to Study Assist, you start repayment once your income reaches above the compulsory repayment threshold. It’s also important to note that this applies even if you’re still studying.

The compulsory repayment threshold is adjusted each year, and for 2016-17 this works out to be over $54,869 per annum. If you’re ever unsure, give their website a visit.

#4 You Won’t Be Hit With Interest

For most loans, the longer you take to repay your debt, the more interest you’ll be paying, meaning less in your back pocket. HECS debt doesn’t work like a loan you might get from the bank or another lender; it’s indexed annually in line with the changes of cost of living.

While there’s no interest per say, the amount you owe will fluctuate depending on economic forces such as inflation.

But In The End, It’s Worth It

If you’re still super bummed about your student debt, remember that education is an investment, and chances are you learned a whole lot at uni, which will make you a massive asset in your industry.

The reason you’ve slummed it for the last four years is because you’ve been busy filling your brain and finessing your skills to become a powerhouse in the workforce.

If you’re still bummed, try inventing a time machine to travel back to ‘70s when for a brief moment education was free in Australia. But let’s not think about that.

Bradley is a writer from Newcastle who enjoys Tina Fey comedies, is a devoted cheese advocate and a connoisseur of cheap red wine.

(Lead image: Parks and Recreation/NBC)