Millions of Australians with student HECS-HELP loans will see their debt increase tomorrow when a hefty indexation is applied to the outstanding amount.
How much are HECS-HELP debts rising this year?
Student debt will be increased by 7.1 per cent the same figure as the consumer price index (CPI) or inflation was for March 2023.
The rise applies to any HELP debts that are more than 11 months old indexation isn’t applied to any student loans in their first 11 months.
So what does that actually mean for me?
There are a few implications of indexation. The first, and most obvious, is that the amount you owe the Australian Tax Office (ATO) …
Read the full article at: https://www.9news.com.au/finance/hecs-help-debt-increase-indexation-what-it-means-for-you-explained/5ae28ce5-f85e-457c-9a19-0f9c4e2f061d