Students would save $3bn over a decade if Labor changed Hecs indexation date by five months
Students and graduates are facing a 2.8% increase in their Hecs debts starting Monday. A report suggests that changing the indexation date could save them $3 billion over the next decade. Independent MP Monique Ryan has criticized the current system as unfair and called for reforms to alleviate the financial burden on young Australians.
- ▪About 3 million students and graduates will see their Hecs debts increase by $1 billion on Monday.
- ▪Costings show that changing the indexation date could save university graduates over $3 billion over ten years.
- ▪The current system does not allow for real-time accreditation of payments towards Hecs debts, leading to increased financial pressure.
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About 3 million students and graduates will see their Hecs debts increase on Monday, when they are indexed by 2.8%. New costings show how much they would save if the government changed the date of indexation on Hecs debts. Photograph: Lukas Coch/AAPView image in fullscreenAbout 3 million students and graduates will see their Hecs debts increase on Monday, when they are indexed by 2.8%. New costings show how much they would save if the government changed the date of indexation on Hecs debts.
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