Student debts are expected to be slashed this year after the federal government announced it was changing the way higher education loans are indexed each year.
Were wiping more than $3 billion of HECS debt for more than 3 million Australians, Education Minister Jason Clare said recently.
But how will the change to HECS indexation actually work? And what will it mean for you? Heres a quick guide.
The government is going to apply credits to all student debts that were indexed on June 1 last year, and June 1 this year.Credit: Peter Braig
When does HECS indexation occur, and what is the HECS change in 2024?
Currently, student loans mostly Higher Education Loan Program (HELP) loans for university degrees are indexed by the…
Read the full article at: https://www.theage.com.au/politics/federal/how-the-changes-to-higher-education-debts-will-affect-you-20240524-p5jgdi.html