Three million Australians with outstanding student loans will receive a more than $2.5 billion debt increase when the annual indexation is applied on June 1.
The Albanese government had promised to reduce student loans by 20 per cent before indexation is applied this year, but the legislation required has not reached parliament as sitting does not recommence until July.
Until that happens, those with student loans will receive a 3.2 per cent indexation.
Here’s what that means for you.
How much indexation is being applied to student debt?
Student debt will rise by 3.2 per cent on June 1 as part of the Australian Tax Office’s annual adjustment to match unpaid loans…
