Australian university graduates could face the biggest increase to their student debt in decades due to rising inflation.
But a federal parliamentary committee is examining a bill that would abolish indexation of student debts and raise the minimum income required to start loan repayments.
Australia’s higher education loan system is tied to inflation and increases in line with the consumer price index (CPI), currently at 7.8 percent.
Greens senator Mehreen Faruqi introduced the bill, which would effectively freeze existing student debt for more than three million Australians.
In a joint submission to the committee, the National Union of Students and Foundation for Young Australians and Foundation for Young Australians said student debt had reached levels never seen before….