Are you currently having it deducted from salary because you are over the earning threshold?
If so, you can game the repayments of HELP a little.
1. There is a discount of 5% for voluntary repayment (up till 1 Jan 2016, then abolished).
2. The interest is applied in one batch, I think around the end of May. Google this.
3. The interest isn't tax deductible.
4. The repayment for your prior tax year is put onto the balance when you finish your tax return (check this).
So, if you are going to pay off your HECS debt in the next two years through the mandatory payments, consider paying it all out just prior to the HECS indexation date. That means you get an instant 7% risk free, tax free return on the money. You get one years worth of this back in your tax refund - assuming it has been deducted through the year.
Its not as attractive as it was with the larger% discounts, but if I were in that category, I'd still consider it. If you are not making mandatory repayments, its pretty cheap debt, and I wouldn't stress about clearing it.