A major shake-up of the HECS-HELP student loan program will allow more than three million graduates to cut back on their annual indexation rates under a new $3 billion budget commitment.
But under the government’s soon-to-be announced changes, indexation of loans will be made relative to wage growth, being capped on whichever figure is lower between the CPI and Wage Price Index to avoid them rising quicker than they can be paid off. More than three million Australian graduates will see their higher education loans shaved back. Picture: NCA NewsWire
“Students work hard because they want to be able to get ahead. They don’t want to be saddled with unreasonable levels of debt,” the federal MP told Sunday Agenda host Andrew Clennell.
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