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The average student loan is set to increase by more than $1,200

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Indexation, which determines how much student debts rise, has come in at its second-highest rate in a decade.

The average student loan will increase by more than $1,200 this year amid calls for the federal government to fix what critics say is a "broken system". Higher Education Loan Program Debt debts, such as HECS-HELP, increase each year under indexation. This is calculated after the publication of the March quarter inflation data, which was released on Wednesday.

Greens deputy leader and education spokesperson Mehreen Faruqi called for the government to urgently make "meaningful and substantial changes" to the system. "Student debt is already locking people out of the housing market, crushing dreams of further study and stopping people from starting a family, and things are only getting worse," she said in a statement on Wednesday.

 

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