Time is running out for millions of university graduates to slash their HECS debts before they increase by 7 per cent.
"If this has happened once, I am sure it'll happen again," he said.
Cost-of-living pressures are preventing Kate Andersson from paying off any more of her HECS debt before June 1. Credit adviser Brett Sutton said indexing allowed governments to recoup study loans at the same value as when it was given, in line with current inflation.Mr Sutton warned that a debt could impact a person's borrowing capacity, especially when it comes to mortgages.That said, indexation is not as expensive as credit card loans or personal interest rates.
"I don't think the system is terrible, but I think the responsibility is on the government to try and do something with inflation," he said.
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