This is a very important amendment to this bill. It has the effect of capping HELP indexation at three per cent. This would mean that HELP indexation would change to the lower CPI or three per cent, ensuring that everyone with a student debt, including future students signing up for a HELP loan, would not be lumbered with the risk of escalating high indexation such as we have seen under this Labor government. Since Labor was elected, even after changes to the way HELP indexation is calculated, student debt has increased by an alarming 14.3 per cent. This is in stark contrast to the average indexation rate under the former coalition government of just 1.7 per cent.
This…