The Untold Truth About HECS Debt In Australia

Young Aussies fear they may never be able to pay off their HECS debts as indexation continues to make debts soar.

Sydney teacher Alicia Romijn found out she owes $81,000 despite making regular payments over the last ten years and joins us to explain what is happening.

#HECSdebt #UniDebt #HECS

[TomCarroll-lb]

Has done a double degree and doesn't know how indexation works. Great!

[strikeforce]

It shouldn't go unsaid that the government makes more revenue from HECS debts than from fossil fuel taxes.

[CathyEarlePM]

She's studying science and is not good at math ... that's a problem.

[benhilder]

They need you in debt.
Get used to it
It creates less trouble for them in the future.
They play a long game.

[vsboy]

Yet companies like Coles and Woolworths are taxed at the bare minimum.

[adiintel]

buying a home? arnt they for investors?

[kbjdxdd]

Fees are dependent on the university. Find and apply to the most affordable university would be my best advice. Because I did. Go VU!

[tbugs]

I wish I had of gone to university so I knew what index was, get a job as a butcher or a electrian free you can even earn while you learn

[zen]

Surely the solution is to educate people about indexation and compound interest instead of giving a select few a pass, no?
It's shameful that a STEM teacher can admit in public, to the nation they don't understand indexation.

[arclux]

If they are incapable of understanding what finance is & its ramifications, then maybe university isn't for them.

[jpgrygus]

universities are a business....wake up.

[Shazsou]

Young Australians burdened with debt whilst the Labour government is giving scholarships to Palestinians. Disgusting!!!

[nsrzz]

Australia is one of the best countries in the world when it comes to education fees. I actually wish that Australia starts to focus on maths a bit more than education loans cause its kinda useless to lend some kid a substantial amount of money when they cant do simple maths or read the terms and conditions of something they sign on. Also im pretty sure with her "double degrees" she should get a good job to afford saving 81k but off course she must cut down her donuts and hot chocolate

[Jack_talbot]

If she’s concerned enough to talk about it on TV, do you think she would investigate how indexation works and the legislation that is going through parliament to reduce it?

[darkhorseman]

Meanwhile, the Nordic countries have free education and highest number of businesses per head of population in the world.

[ix-Xafra]

Make the foreign students pay more for tertiary courses to subsidise aussies' education!

[abnkh]

Requiring citizens to pay for university education is detrimental to a nation’s future.

[changck]

reduce indexation or debt is just someone else is paying the debt

[darkhorseman]

You have to realize that student debt is a control system.

We have human behavioural research showing keeping them in debt and only 3 or 4 pay packets, keeps them working and not protesting.

It's social engineering, not intelligent economics.

[multioptioned]

Too many "non user pays schemes" in Australia as it is.
Foreign students pay up front. Australians don't even start paying HECS loans back until earning
54, 435-$62, 850 at 1.0% of salary.
She didn't even know about indexation changes? Take an interest before whinging on television 😮