Clare Megahey is one university graduate who has racked up a HECS-HELP of more than $50,000.
When her university debt was slugged with a 7.1 per cent increase last year as part of indexation, it shot up by $3500 to almost $53,600.
That year, she only paid $2400 off; meaning her debt was growing despite her trying to pay it off.
“It was definitely going up faster than I would have been able to pay it off, which was scary,” Ms Megahey, who completed a five year degree in international relations and media from the University of NSW in 2021, told news.com.au.
“It was definitely disheartening not seeing it paid off as I worked a full-time job.
“I did think it was alarming as I was obviously paying off the minimum amount, so in theory that…
