Key Points
- More than three million Australians have been hit with an increase to their student loan debt due to indexation.
- The education minister has told students the increase will drop due to forthcoming legislation.
- But there have been calls for the government to change indexation so it’s not applied on amounts already repaid.
More than three million Australians have been slugged with a student loan hike, despite growing calls for a system overhaul.
HELP debt (such as HECS-HELP) goes up annually due to indexation — where inflation figures are used to increase the debt amount to reflect what cash is worth in today’s dollars.
On Saturday, loans jumped 4.7 per cent, the second-highest increase in a decade, after last year’s rise of 7.1…
