HECS or no HECS

I’m in my 40s and about to go back to UNI. I currently have no HECS debt and trying to decide between dipping into my savings to pay for my course fees outright or to take out a HECS loan. I’ve never had HECS and don’t know much about it yet. Keen for any thoughts about the pros or cons of either option before I dig too deeply into it.