1 year ago
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Proposal to abolish indexation projected to cost up to $1.3bn as MPs and students say higher education loan scheme is ‘no longer fit for purpose’
MPs are urging the federal government to ease the growing student debt burden in the upcoming budget despite forecasts showing that abolishing indexation would hit the budget bottom line by up to $1.3bn.
The latest consumer price index figures (CPI), released last week confirmed Help loans would increase by a record high of 7.1% when next indexed on 1 June, increasing overall student debt from about $74bn to just under $80bn.
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