Varsha Yaiman is 21 years old and already has more than $35,000 in debt. Not on a house, or a car, but a student loan.
Four years into her double arts/law degree, Yaiman said she and her peers find the future “truly terrifying”.
She’s among millions of Australians with student loans that will be hit by increases of more than $1,000 in June, new figures show, as calls grow for the commonwealth to act on a growing “debt spiral”.
Quarterly figures, released by the Australian Bureau of Statistics on Wednesday, revealed inflation grew by 3.6% over the year to 31 March, in large part due to a rise in education costs, which grew by 5.9%.
The repayment of Hecs/Help loans is tied to indexation, calculated by combining the consumer price…
