HECS indexation is expected to be 4.7 per cent. Check how much extra you could be paying with our calculator

The financial year doesn’t end for another two months, but there’s a closer deadline many people with university debts are dreading: June 1.

On June 1, all unpaid HECS/HELP debts will automatically increase when indexation is applied.

If you’ve got a higher education debt, here’s what you need to know.

But if you’re not familiar with HECS, tap the links below for a quick explanation:

What is the HECS indexation rate for 2024?

The Australian Taxation Office (ATO) hasn’t formally confirmed the indexation figures yet.

But, now we have the latest Consumer Price Index (CPI) numbers, we can work it out ourselves.

This year, HECS-HELP debt is expected to increase by 4.7 per cent after indexation.

But that…