Freeze Student Debt

Created with Sketch.

NUS General Secretary Speaks to ABC Breakfast:

The NUS Calls on the Federal Labor Government to Freeze Student Debt Indexation

The total value of HECS loans will increase by $4.5 billion on 1st June with the average debt projected to increase by $1,700. Indexation at 7.1% means that individual HECS debts will increase even if a student or graduate doesn’t earn enough to pay it down. The NUS argues that this indexation is unfair, with the government expected to profit $2.5 billion from students and graduates this year.

The Federal Labor Government must freeze Higher Education Contribution Scheme (HECS) indexation to ease the burden of student debt and have the courage to take on the intergenerational wealth crisis in Australia.

“We are already looking at becoming the most indebted generation in Australia’s history and now the Federal Government is looking to profit from young Australians during a cost of living crisis,” NUS National President Bailey Riley said. 

NUS President Speaks to the Project:

Further Reading

Read the Senate Submission

ABC – Growing calls for student HECS-HELP loan indexation to be abolished as inflation sends debts soaring

Women’s Agenda – Young people will be hit with massive increases to their HECS debt on June 1

SBS Punjabi – Gloomy financial outlook for students with HECS debt

SMH – ‘They tell you it is interest-free’: Cherish feels stuck in HECS debt trap

City Hub – Labor and Coalition block Greens bill to freeze student loan indexation

The Age – University dropout rates rising as high living costs force some students to make a tough choice

The Guardian – Calls to reform Australia’s student debt scheme as loan holders face ‘deeply unjust’ 7.1% rise

3AW – The push to help out tertiary students regarding HECS debt

SMH – HECS? Help! Why your student debt is about to skyrocket

The West – ‘Discouraging’ increase looming for student debts

Please contact National President Bailey Riley for further comment mobile: 0411 606 808