Make our HECS debts easier to pay off!

The issue

The HECS debt system is broken. 

Last year, over a million Australians saw their HECS debt grow faster than it was being repaid because of an unfair indexation system. 

The government got more money last year from our HECS debts than it did from its main fossil fuel tax.

As we sign this petition, Education Minister Jason Clare is deciding what to do about HECS debts. 

We are calling on Minister Clare to change the way HECS debts are indexed.

We should celebrate students going to university, not straddle them with a lifetime of debt.

We note the Australian Universities Accord, released last month, recommended this change. 

One option is for the government to apply the lowest indexation rate in a year, whether it’s wages or prices, so that no one’s debt rises faster than they can pay it. 

Young people are facing a housing crisis, a cost-of-living crisis, and a climate crisis – they shouldn't be facing a HECS debt crisis as well. 

*Please note that the donations below go to change.org. If you choose to make a donation via this page, it doesn't come to me or my office.

 

avatar of the starter
Dr Monique RyanPetition starterIndependent Member for Kooyong.
Confirmed victory
This petition made change with 288,034 supporters!

The issue

The HECS debt system is broken. 

Last year, over a million Australians saw their HECS debt grow faster than it was being repaid because of an unfair indexation system. 

The government got more money last year from our HECS debts than it did from its main fossil fuel tax.

As we sign this petition, Education Minister Jason Clare is deciding what to do about HECS debts. 

We are calling on Minister Clare to change the way HECS debts are indexed.

We should celebrate students going to university, not straddle them with a lifetime of debt.

We note the Australian Universities Accord, released last month, recommended this change. 

One option is for the government to apply the lowest indexation rate in a year, whether it’s wages or prices, so that no one’s debt rises faster than they can pay it. 

Young people are facing a housing crisis, a cost-of-living crisis, and a climate crisis – they shouldn't be facing a HECS debt crisis as well. 

*Please note that the donations below go to change.org. If you choose to make a donation via this page, it doesn't come to me or my office.

 

avatar of the starter
Dr Monique RyanPetition starterIndependent Member for Kooyong.

Confirmed victory

This petition made change with 288,034 supporters!

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The Decision Makers

Jason Clare
Federal Minister for Education
Responded
Good news! If you have a HECS debt, check your MyGov account because cuts to student debts have started rolling out. The Albanese Government has wiped $3 billion in student debt from more than three million Australians. And yesterday, the ATO started processing these cuts. Someone with an average HELP debt of around $27,000 will see around $1,200 wiped from their outstanding loan. The Universities Accord recommended indexing HELP loans to whatever is lower out of CPI and WPI. We have done this, and gone further. We have backdated this reform to last year. This wipes out what happened last year and makes sure it never happens again. You can calculate how much you will benefit here: https://www.education.gov.au/help-debt-reduction-and-repayment-estimators Yours sincerely, Jason Clare, Minister for Education

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Petition created on 13 March 2024