The fact that the Australian government/ATO has increased the rate of indexation applied to HECS/HELP loan debts three times over the last three years - from 1.9% to 7.1% - is completely unfair.  

In 2020, 1.9% interest (because that is what it is), was manageable.  Now, 7.10% interest in 2023 is not manageable for most.

Students are unable to access their superannuation/pensions to repay their loans.  So they are just stuck with indexation every year, and will end up have most, if not all of their superannuation/retirement funds cancelled out by interest charged to student loans.

The Australian government should:

• lower the indexation rate back to a fairer amount, such as 4.5%.
• or, allow those with HECS/HELP debts to access their superannuation early to help repay their loans.