Australian News

516 readers

6 users here now

A place to share and discuss news relating to Australia and Australians.

Rules

Follow the aussie.zone rules
Keep discussions civil and respectful
Exclude profanity from post titles
Exclude excessive profanity from comments
Satire is allowed, however post titles must be prefixed with [satire]

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

If you would like to become a moderator please see the relevant pinned post.

Banner: ABC

founded 1 year ago

MODERATORS

[email protected]

HECS indexation to be overhauled in budget with $3 billion in student debt 'wiped out' (www.abc.net.au)

submitted 3 months ago by [email protected] to c/[email protected]

1 comments fedilink hide all child comments

Student debts will be lowered for more than three million Australians under reforms designed to stop HECS loans growing faster than wages.

Loan indexation will now match whichever is lower out of the Consumer Price Index or the Wage Price Index — which the government says will prevent another shock increase like last year's 7.1 per cent increase.

The changes will be introduced in the 2024 budget and, pending getting through parliament, will take effect from June.

top 1 comments

sorted by: hot top controversial new old

[–] [email protected] 13 points 3 months ago

A key line that's not in the summary (but probably should've been -- not that that's OP's fault):

The policy will be backdated to June 1 2023, which means last year's 7.1 per cent indexation will be lowered to the WPI of 3.2 per cent.