Sarah Sultan is studying Business at UWS and worries about paying off her HECS. Picture: Bob Barker.
ITS the debt we all like to forget we have, and Australians owe a combined $48 billion.
But while a HECS or HELP balance is the best debt you can have, given that it doesnt attract interest, ignoring it could harm your finances in less obvious ways.
And you might want to think about paying it off before you saddle yourself with a home loan, Finder money expert Bessie Hassan suggests.
Even though this is no-interest debt and therefore better value than commercial interest-laden debt, its still a good idea to clear it as early as you can and before you look to acquire any further debt, as further debt will be more expensive to pay back and ther…
Read the full article at: http://www.news.com.au/finance/money/costs/should-you-pay-off-your-hecs-before-you-save-for-a-deposit/news-story/1de7a4ef9230b7f05150c9126853fea9
