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It’s ‘good’ debt, but should you pay your HECS off early?

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Australia’s student loan system is a relatively fair scheme, but rising inflation means balances are booming. It’s time to study your options.

Money editor Dominic Powell and our experts share tips on how to save, invest and make the most of your money.

, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You’re reading an excerpt −When compared to countries like the US, Australians have often felt pretty chuffed about our student loans system. HECS, devised in 1989 − and known as HECS-HELP since 2005 − has long been considered a relatively fair scheme, to the point where many advocates label it as “the best debt you can have”.

 

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