A Senate inquiry rejects a proposal to freeze indexation on the student loans, meaning they could increase by up to 7 per cent in June.
"While the committee agrees that measures should be taken to ease the cost-of-living burden on Australians, it is unclear whether the measures proposed in the bill will achieve this effectively," the report said.
There is currently more than $75 billion in outstanding university and vocational education loans owed to the federal government.The Department of Education estimated Senator Faruqi's bill would cost an additional $9 billion over forward estimates in foregone payments., from more than 600,000 loans in 2016, to nearly 830,000 loans in 2019.The department said the system took into account the fact that it would get all of that money back, but it still saw the proposed changes as a risk.
Ms Tran graduated from university with a Bachelor of Arts in 2018. She was left with more than $28,000 in HECS-HELP debt. Back in 2018 the then-Coalition government lowered the repayment threshold from nearly $56,000 to just over $48,000.Ailis Steele, 24, is doing a double degree in nursing and midwifery."It's not about the money. I currently work in accounting, and if I stayed in accounting I would earn significantly more than I would if I ended up as a midwife, which is what I plan on doing," she told Hack.
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