Brisbane wealth adviser Alanna Fraser has been battling to pay off a university student debt of $102,000.
Key points:
- The National Union of Students says the federal government is profiting from student loans
- Annual indexation is causing loan amounts to rise sharply due to high inflation
- Treasurer Jim Chalmers says the system is fair
She’s just 26 and fears the current system of loan indexation will leave her still owing the government money for her Bachelor of Economics and a Masters of Financial Planning degrees in 20 or even 30 years’ time.
Own a house? Not likely any time soon given banks see student HECS-HELP debts as a “real debt” and it thus affects a graduate’s ability to borrow money.
Interest is not charged on student loans, but th…
Read the full article at: https://www.abc.net.au/news/2023-04-03/student-debt-rising-hecs-help-indexing/102125582