A young Aussie’s candid confession about her HECS debt has exposed the brutal reality being faced by millions of people across the country.
“Just did a back of the envelope on my student debt. I graduated with a debt of $99,700 and have paid back around $12k,” she wrote on X. She has a Bachelor of Arts in Politics & Creative Writing, a Masters in Global Media Communication at Melbourne University, and a Graduate Diploma in Journalism at RMIT.
But, because indexation occurs before this on June 1, your past contributions are actually applying to the higher indexed rate, despite coming out of your pay much earlier. He was questioned about the impending indexation while speaking to radio station Hit Central Queensland on Thursday. While the review didn’t call for indexation to be scrapped completely, it did say it needed to be “modernised” and recommended it be kept in line with whichever is lower out of inflation and the wage price index.
A recent Finder survey of people with student debt found 63 per cent were concerned about not being able to pay their HECS, up from 54 per cent last year. Prime Minister Anthony Albanese said changes to the HECS system are being considered. Picture: NCA NewsWire / Martin OllmanHarrison Astbury, editor and research analyst at financial comparison website InfoChoice, believes the issues around HECS and indexation form part of a wider conversation around Australia’s attitude to university.
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