Jordyn Avery is a clever young woman with a stable job. But aged only 24, she’s facing what she believes will be a lifetime of debt.Rather, she and her cohort were encouraged to pursue whatever study would get them to their desired careers — and it was assumed everyone would go to university.
“I want to do this because this is what I am interested in and I’m passionate about it, and I shouldn’t be penalised for doing a creative course.” While HECS debts do not earn interest, the sum is indexed annually on July 1 by the rate of inflation – meaning debts were indexed by 7.1 per cent last year.
She said rather than “straddle” students with a “lifetime of debt”, studying and attending university should be celebrated and not financially punished. Ms Avery said the stress of HECS was far-reaching, even potentially preventing her from buying a home. Recommendations from the review included changing the timing of indexation to deduct compulsory repayments first, and ensure people’s debts did not grow faster than their wages.
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