Parents looking to aid their children financially are sticking with helping them with a home deposit rather than with student debt, regardless of predictions the rate of annual indexation could be high for years.
Student debt, though indexed in line with inflation, was not much noticed when inflation was low, as it was generally considered the cheapest debt anyone could have. That changed with the spike in the indexation rate applied to the debt.
Social media lit up with students and former students complaining about how much their debt had risen when the rate jumped to 7.1 per cent on June 1 almost twice the indexation rate of 12 months earlier.
Social researcher Mark McCrindle says parents are more supportive of helping their chil…
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