Labor has announced changes to the way Hecs and Help student debts are indexed, with the change likely to deliver a saving to most debtors. You can use this calculator to see an estimate of how much such a credit could be, based on your Help or Hecs debt and your income:Help/Hecs changes credit calculator This shows an estimate of how the government's changes to Hecs/Help indextion may affect you, based on preliminary figures. Put in your current Help debt and your annual income to get a rough estimate of how long it could take you to pay off your debt. The chart shows the money added from indexation each year , compulsory and voluntary repayments each year , and then the total debt over time . This model assumes wage growth increases steeply after graduation, then tapers downwards over nine years to the historical average wage growth.

Source: The Guardian May 06, 2024 11:14 UTC