Tyrrell calls for changes to indexation timing on HECS
Independent Senator Tammy Tyrrell supports calls to reform HECS/HELP debt.
“When I was at school, I wanted to be a nurse. I didn’t pursue it because my family couldn’t afford for me to go to uni. I don’t want that for future students. I don’t want kids in regional Tassie not to go to uni because they’re worried they’ll have a debt hanging over their heads forever.
In particular, Senator Tyrrell says she supports changes to the timing of indexation and wants to see that prioritised.
“It doesn’t make sense to me that someone’s debt is indexed before taking into account the thousands of dollars they’ve paid throughout the year. Imagine if banks did that with your home loan - took your money, charged you interest but the repayments don’t come off the outstanding balance. I reckon people would be pretty upset about that. So why do we expect students to put up with it?
“A student's HECS-HELP debt should be indexed after the yearly repayments are taken off.
“No matter what the indexation rate is, it’s not a fair system when you’re indexing badly. We need to change the timing, not the rate.”
Senator Tyrrell is also continuing to advocate for a solution to mandatory unpaid student placements. She is investigating options which will help students but not blow a hole in the budget at the same time.
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