HECS debts are going up by 7% with spiralling inflation. RBA interest rate Is at 4.1 %, wages going up around 5% , then why is it that our student loans are hit the hardest. Is it because our student loans are on the books of the Australian Future Fund and they want to earn some extra dividends on for the government pension fund.
Your hecs repayments deducted by your employer through payroll only show when you complete your tax return after July 1st, but indexation applies on June the 1st , so even before you get a chance to reduce your hecs debts, the government indexes you and basically wipes out any repayment you have made recently.
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