HECS debt reduction: What to do after paying off your loan, how to stop employer deductions and everything to know

The federal government’s 20 per cent HECS reduction scheme has resulted in some Australian taxpayers inadvertently losing unnecessary money from their paycheques. Nearly three million Australians have an average of $5500 in HECS debts owing to the government – and this debt is paid off slowly through compulsory repayments. The relief was applied to balances…