I guess I’m stupid. I didn’t realise they changes the interest rates on HECS. Is it true, you basically should pay it off ASAP because the interest now is massive (I think it says 7% on mygov). I always understood HECS was almost interest fee so I just left it for a long time. Now I’m desperately trying to pay it off quickly so I don’t have the compounding debt.
I mean, indexation looks bad because its calculated once. But 7% once is way better than 5% compounded.
I do agree high school and societal messaging has been misleading. “Good debt”, " When I studied it was free, is it not free anymore?"