Nearly 14,000 current and former students will be hit with extra student debts of more than $5000, on average after missing information meant loan records from 104 higher education institutions were not transferred to the Australian Tax Office between 2004 and 2022.
Students and graduates have received emails from the Education Department informing them of their incorrect loan records, with the updated loan amounts to be recorded in borrowers MyGov accounts in August.
As of August 11, the department had identified combined affected loans of 13,748 individuals valued at $74 million, or an average $5382 per borrower. Most debts related to study during 2020 to 2022, a spokesperson said.
Nearly 14,0…
Read the full article at: https://www.afr.com/work-and-careers/education/records-glitch-will-hit-thousands-with-extra-hecs-debt-20230814-p5dwcc