Answer
Yes. Lightning Payroll can withhold the STSL (Study and Training Support Loan) component from an employee's pay once you enable the setting on their tax record. The repayment rate is calculated automatically by the software using the ATO's income-contingent repayment tables - you do not enter a fixed dollar amount.
Enabling STSL Withholding
In the desktop app: open the employee record, go to Tax >> Tax Settings, and tick Deduct STSL (HELP, TSL, SFSS, etc.).
In the online (web/mobile) app: select the employee, go to Tax >> Tax Settings, and enable Deduct STSL (HELP, TSL, SFSS, etc.), then save.
Once enabled, Lightning Payroll will include the STSL amount in each pay's withholding. The STSL component is included in the total PAYG withholding figure - it is not a separate deduction line. The note on the pay screen confirms: Tax Amount is inclusive of any Study and Training Support Loan Withholding (that is, HELP, VSL, SFSS, SSL, ABSTUDY SSL and TSL).
Voluntary Extra Repayments
The repayment rate is set by ATO tables and cannot be overridden to a custom fixed amount in Lightning Payroll. If an employee wishes to make additional voluntary repayments on top of the compulsory withholding, they must do so directly through their MyGov account following the ATO's voluntary repayment guidelines.