Following the release of the latest Consumer Price Index (CPI), HECS-HELP debt is expected to be indexed at approximately 4.8 percent this year. This will automatically be applied to HECS debt on June 1st. This increase, followed by last years record high 7.1 percent, has given rise to increasing pressure from the Greens and Independent politicians to change the HECS debt system.
The Higher Education Contribution Scheme (HECS) is a system which subsidises course fees for Australian citizens and residents studying under a Commonwealth-supported place (CSP), while the Higher Education Loan Program (HELP) is the program that provides loans to students across universities, TAFEs and other tertiary education institutions. All HELP loans, inc…
Read the full article at: https://www.woroni.com.au/news/were-crying-out-for-help-student-debt-to-be-indexed-by-4-8-percent/