After the release of March inflation data, we now know that student HELP debts will rise by 7.1 per cent on June 1 this year.
It’s the biggest rise in decades, and it’s taken many Australians with student debt by surprise including recent graduate Naomi Lewis.
The 23-year-old public relations specialist has a HELP debt of about $22,000 after finishing her communications degree in December 2021.
“I don’t have the biggest HELP debt in the world, and I’m fortunate that I have other savings,” she says.
“But it’s interesting that [HELP] was always [discussed as] the best debt you can have. Now, it seems it can be a debt that can increase so much in light of inflation.
“I don’t think it’s something I considered. And it’s not something that…
Read the full article at: https://www.abc.net.au/everyday/help-debt-indexation-how-to-save-money-by-paying-early/102261222