Greens Renew Calls to Scrap Indexation as Student Debts Forecasted to Increase by 4.8 Percent

Published on April 18, 2024

The Australian Greens Party has renewed its call for abolishing indexation on student debts following a new analysis but an expert said indexation was critical to ensure Australian taxpayers would not suffer losses from the student loan program. According to parliamentary library projections released by the Greens on April 18, the amount of HECS (Higher Education Contribution Scheme) debt owned by around 3 million students across the country would rise by 4.2 to 4.8 percent on June 1 due to indexation. The party said the forecasted increase would be the second highest in the past decade, following a 7.1 percent jump in June 2023. The Greens also estimated that total student debts would surge by 16 percent or $12.3 billion (US$7.92 billion)....

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