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The countrys total HELP bill ballooned to more than $66 billion in 2019-20, with about 85 per cent of this sitting with 2.2 million Australians aged under 40. The time taken to repay student debt has risen from an average of 7.3 years in 2005 to 9.3 years in 2020.
Federal Education Minister Alan Tudge said it was expected that as Australians lived and worked longer, more people would take up study to improve qualifications.
Older workers should have the same opportunities to upskill and re-skill as young people entering the workforce or those already working. When people get additional qualifications they typically increase their salary, regardless of the age they upskill, Mr Tudge said.
The architect of the original HECS schem…
Read the full article at: https://www.smh.com.au/politics/federal/number-of-older-australians-with-help-debt-doubles-in-five-years-20210712-p588wr.html
