Australian federal government proposes HECS debt reduction by capping indexation rate for Higher Education Loan Program.
The Australian federal government proposes university changes that could reduce students' Higher Education Contribution Scheme (HECS) debt by up to $3 billion, with the average student seeing a $1,200 decrease in loans. The proposed changes involve capping the indexation rate for the Higher Education Loan Program (HELP) at either the rate of inflation or the wage price index, whichever is lower. The reforms also include funding for fee-free university courses and paid placements for students in nursing, midwifery, and social work. The government aims to secure the bill's passage through the upper house with support from the opposition or the crossbench.
August 14, 2024
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