It’s been six months since the Labor government announced plans to retrospectively change the way student debts were indexed, promising loan credits for some and refunds for others.
Now people are finally seeing the changes come through.
While not everyone’s student loan balances have changed yet, some people have already received notifications about their debts.
Here’s what you need to know.
What are the changes?
In November, the government passed legislation to change the way Higher Education Loan Program (HELP) debts were indexed.
HELP debts — the most common being part of the Higher Education Contribution Scheme (HECS), used by university students to cover their fees — are touted as interest-free.
But they are indexed annually on…
