A senate committee has finished examining a private members bill introduced by Australian Greens Senator Mehreen Faruqi which would halt indexation on student loans.
Departmental estimates suggested the proposed law could cost around $2 billion for the three years beyond the current financial year and $9 billion for ongoing revenue effects for loans made during that period. Wilding, who has a HECS debt of $130,000, will see the amount she owes increase by around $9100 if the predicted 7 per cent indexation is applied in June.
"I've always known that, for international students, they pay university fees upfront and they are exorbitant, but for an Australian citizen, I thought it's just all covered," she said. "The indexation will still be higher, and I'll still have more and more debt, which is crazy. It's just another thing to worry about really," she said.
"As a 23-year-old in this country, this is not what I should have to be dealing with. I am utterly disappointed and have no idea how I will get through."Faruqi, who tabled a dissenting report to parliament yesterday, said Labor and Liberal politicians were completely out of touch with the reality of millions struggling with student debt.
But ppl can have payments taken out by the government from their salary, but the indexation means the loan still grows despite the repayments. 7% is just ripping off people
Julie fucked up. Julie has NOBODY to blame but Julie. How did this take her six years? It's a five year program. Julie is a failure. Julie should have chosen a subsidised program with less pressure like nurse, janitor, child care worker or teacher.