On July 1, thousands of university students and graduates had to start paying up their debts sooner than what was expected and they could have to pay back even sooner if a bill passes the Senate.
Now in the new financial year, anybody earning $52,000 or more a year will have to start paying off their student debts referred to Higher Education Loan Program (HELP), which replaced Higher Education Contribution Scheme (HECS)
However, the federal government announced their intentions to lower the repayment threshold to $44,999 in the budget.
The bill allowing that change was meant to be passed by the Senate but has since been delayed until August.
However, because the bill hasnt passed before the start of the new financial year, the further r…
Read the full article at: https://www.centralwesterndaily.com.au/story/5517862/paying-back-the-university-debt-starts-earlier/