When university graduate Nariman Dein started studying, she felt privileged to access Australia’s student loan system. Bright-eyed and eager to jump into university after finishing high school, Dein said the messaging around Australia’s university fee program, HECS-HELP, was it was “basically like free university”. “I was told you don’t have to worry about it because you pay it off later,” she told 7NEWS.com.au. “I thought if I had $40,000 in debt, it would stay $40,000 until I paid it off.
1 per cent indexation will be decreased to the WPI of 3.2 per cent. It is expected to cut about $1200 from the average debt of $26,500. The move was one recommended in the Australian Universities Accord, a review of higher education that suggested making HECS “simpler and fairer”. Among its recommendations were changing the timing of indexation so it occurred after annual compulsory payments, and reviewing bank lending practices so it did not prevent people from taking out a loan to buy a house.
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Source: 7NewsSydney - 🏆 16. / 63 Read more »
Source: 7NewsSydney - 🏆 16. / 63 Read more »