Key Points
- More than three million Australians have been hit with an increase to their student loan debt due to indexation.
- The education minister has told students the increase will drop due to forthcoming legislation.
- But there have been calls for the government to change indexation so it’s not applied on amounts already repaid.
More than three million Australians have been slugged with a student loan hike, despite growing calls for a system overhaul.
HELP debt (such as HECS-HELP) goes up annually due to indexation where inflation figures are used to increase the debt amount to reflect what cash is worth in today’s dollars.
On Saturday, loans jumped 4.7 per cent, the second-highest increase in a decade, after last year’s rise o…
Read the full article at: https://www.sbs.com.au/news/article/how-much-your-hecs-debt-just-increased-by-and-why-that-figure-is-set-to-drop/lkavcjfvf