Teal MPs want urgent action on student loan increases. This is their proposal, as the education minister signals when Australians could learn of changes.
Federal Teal MPs want changes to the way higher education loans are hiked, saying the existing system is unfair. More than 2.9 million Australians have a HELP debt, such as HECS-HELP , with the average debt about $26,500, according to the most recent Australian Taxation Office data. These debts are indexed each year in line with the March quarter inflation figures. Debate on the issue was hot last year when inflation for the period came in at 7.
It also recommended indexation is applied only after repayments have been accounted for, and for a review of bank lending practices that would acknowledge HELP loans as different to others so that they would not limit borrowing capacity for home loans — something Ryan has also criticised. "I think it's entirely inappropriate that your HECS debt is taken into account when trying to get a home loan," she told the ABC.
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