Millions of Australians with student loans will be hit by increases of more than $1,000 in June, new figures show, as calls grow for the commonwealth to act on a growing debt spiral.
Quarterly figures, released by the Australian Bureau of Statistics on Wednesday, revealed inflation grew by 3.6% over the year to 31 March, in large part due to a rise in education costs, which grew by 5.9%.
The repayment of Hecs/Help loans is tied to indexation, calculated by combining the consumer price index (CPI) numbers for the four quarters to March and dividing the number by the same figure for the previous year.
It places this years rate at 4.8%, down from a punitive 7.1% last year but still the second highest rise in more than a decade.
It means student…
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