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
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
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