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.
HECS changes to see $3 billion in student debt 'wiped out'
Submitted 6 months ago by veroxii@aussie.zone to australia@aussie.zone
Comments
Aurenkin@sh.itjust.works 6 months ago
Nath@aussie.zone 6 months 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.
autotldr@lemmings.world [bot] 6 months 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!
BNE@lemmy.blahaj.zone 6 months ago
The original article contains 17 words, the summary contains 17 words. Saved 0%.
Good bot!
slazer2au@lemmy.world 6 months ago
Good
gumnut@aussie.zone 6 months ago
Excellent!
veroxii@aussie.zone 6 months ago
Yeah that’s pretty good especially for people who made extra payments that year.