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HECS indexation tipped to hike student loan debt by $1,250

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University graduates, already “treading water” amid the cost of living crisis, are set for more financial pain. Student debt is set to increase by thousands of dollars this year after inflation figures came in slightly higher than expected.

debt is about $26,500 which means the average student debt will increase more than $1250, while education costs rose 5.9 per cent, according to inflation data released on Wednesday. “This is untenable,” independent MP Monique Ryan said. “Hundreds of thousands of Australians with a debts increase despite working hard to pay them off,” she said. The mandatory

system. Finance Minister Katy Gallagher has been tight-lipped about whether there will be any changes in the upcoming May budget but says the government has been looking at

 

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