Higher-than-expected inflation figures released today aren’t just bad news for home- and business owners banking on an early interest rate cut; they’re concerning for the more than 2.9 million Australians with student debt.
The consumer price index (CPI) determines how much HECS-HELP and all other student debt increase under the annual indexation that takes place on June 1.
While the Australian Taxation Office is yet to complete its calculations for this year, today’s inflation data means the indexation rate is likely to be around 4.7-4.8 per cent – the second-highest figure since 1990, behind only last year’s 7.1 per cent.
Finder has estimated…
