Parents looking to give their children a helping hand financially are sticking with helping them with a home deposit rather than with their student debt, regardless of predictions the rate of annual indexation could be high for years to come.
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. But following the spike in the indexation rate applied to the debt, that changed.
When the indexation rate jumped to 7.1 per cent on June 1 this year, almost twice the indexation rate of 12 months earlier, social media lit up with students and former students…
Read the full article at: https://www.smh.com.au/money/planning-and-budgeting/first-home-not-hecs-parents-not-helping-with-student-debt-despite-hikes-20230817-p5dxbz.html