THOUSANDS of university students and graduates had to start paying back their debts sooner than expected on July 1 and the rules might change again if a bill passes the Senate.
With the new financial year having begun, anybody earning $52,000 or more a year will have to start paying off their student debts referred to as the Higher Education Loan Program (HELP), which replaced the Higher Education Contribution Scheme (HECS).
The Federal Government has, however, announced its intention to lower the repayment threshold to $44,999.
The bill allowing that change was meant to be passed by the Senate, but has since been delayed until August.
Because the bill didnt pass before the start of the new financial year, the further reduction in the th…
Read the full article at: https://www.northerndailyleader.com.au/story/5520880/paying-back-starts-earlier-for-students-after-debt-change/
