The Albanese government is expected to change the rate and timing of HECS indexation in the federal budget as people grappling with massive student debt brace for another large hike in June.
The Universities Accord released its final report in February, calling for the government to make numerous changes to how student debt is calculated and when it is deducted. The expert panel, chaired by scientist and consultant Mary O’Kane, recommended fixing the rate of indexation to the lowest of either the wage-price index or the consumer-price index.
Albanese said the government was examining the recommendations before an announcement, adding he wanted more people to go to university. “We, of course, have a budget coming up,” he said. “Those discussions are ones we need to be having as a parliament,” Tink said, adding people training for crucial, highly skilled professions were undertaking years of study. “The bottom line is, it is not acceptable that we have young Australians carrying burdens with a six-digit figure.”
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