Millions of Australians with student loans will have hundreds of dollars wiped from their HECS debts as the federal government rolls out its plans for cost-of-living relief in the upcoming budget.
  • @gumnut
    24•15 days ago

    The policy will be backdated to June 1 2023

    Excellent!

    • veroxiiOP
      11•15 days ago

      Yeah that’s pretty good especially for people who made extra payments that year.

  • @[email protected]
    5•15 days ago

    I got a fairly sizable hecs debt that took me quite a while to work off. I’m glad folks are getting a bit of help, it really sounds like it should have worked like this since they introduced indexation to hecs to be honest.

    • @NathA
      2•13 days ago

      Being clear: nobody is getting their debt “wiped out”. This isn’t a debt forgiveness that you missed out on by already having paid your loan off. The HECS indexation last year resulted in unfair loan interest of 7.1% being applied to debts for 2023. HECS was never intended to do that to people. The “wipe out” is an adjustment of this interest only for last year.

  • AutoTL;DRBEnglish
    0•15 days ago

    This is the best summary I could come up with:

    “This will wipe out what happened last year and make sure it never happens again,” he said.

    The original article contains 17 words, the summary contains 17 words. Saved 0%. I’m a bot and I’m open source!

    • BNEEnglish
      3•15 days ago

      The original article contains 17 words, the summary contains 17 words. Saved 0%.

      Good bot!