Australians with student debts are set to have hundreds of dollars added to their loans amid calls to change how increases are calculated.
Some 2.95 million Australians have a Higher Education Loan Program (HELP) debt, such as
, totalling more than $78 billion in outstanding debt, according to the most recent Australian Taxation Office (ATO) data.
The average debt is almost $26,500, and that will increase through indexation based on the March quarter inflation figure. That figure is yet to be released, but forecasts have emerged.
Harry Murphy Cruise, an economist at Moody’s Analytics, told The Guardian on Wednesday that “partial data” suggested inflation would come in at 3.35 per cent year-on-year for the March quarter. That would be …
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