The federal government has introduced a new bill to parliament promising to wipe out $3 billion in HECS-HELP debt, however experts are concerned that student debt is unfairly affecting higher education graduates beyond repayments.
The proposed legislation, which has now been referred to an inquiry, could save the average graduate $1,200 a year through changes to indexation.
The legislation will not return to parliament until October at the earliest and will then need to pass both houses before the changes take effect.
How does indexation work?
Indexation is supposed to maintain the real value of the education you received, so that no matter how long it takes to repay, a student will repay an amount that is more like the actual cost of…
