Education minister stands by three-decade high indexation rate of 7.1% but acknowledges need for minor reforms amid backlash
Get our morning and afternoon news emails, free app or daily news podcast
Critics of soaring indexation on student debts have welcomed the education minister’s commitment to look into an accounting quirk in the way loans are indexed which could save graduates hundreds of dollars in repayments.
Hecs debts rise annually with inflation on 1 June, but loan repayments aren’t processed until tax returns are lodged, which can be months later. This means indexation is applied to portions of debts already paid – often by thousands of dollars.
About Author
More Stories
Italian opposition file complaint over far-right deputy PM party’s use of ‘racist’ AI images
Nvidia’s CEO makes surprise visit to Beijing after US restricts chip sales to China
Move over, Med diet – plantains and cassava can be as healthy as tomatoes and olive oil, say researchers