How does the HECS Help fund work?

Im a first year uni student and applied for a HECS help fund, and i have checked my balance and it says that i have ~120k in balance left, with nothing yet deducted.

So, am i okay to leave it at that? Does this automatically pay for the uni fees or is there more I need to do?

I ask this because I got an email from RMIT stating that i have fees that need to be paid within 14 days, so i'm stressing if i haven't done one of the steps.