That ICPA (Aust) requests the Minister for Employment and Workplace Relations and the Minister for Skills and Training to ensure that HECS debt repayments are forwarded by employers and applied each time it is deducted from the employees’ wage to assist rural and remote graduates in the repayment of their HELP debt.
At the moment those people who are paying back HECS debts are only having the payment applied to their debt each six months, whilst the payment is being deducted each fortnight from their wage. On the 1st June 2023 the HECS Debt owing is being indexed by 7.1%. This is the highest indexation in 11 years. It is unfair for the amounts being deducted from wages to not be attributed immediately to the HECS Debt. With the already high cost of living for everyone this indexation is creating greater financial struggles for those still paying off a HECS Debt. Over a 10 year period this indexation would add $12 084 to a $50 000 HECS Debt.
