Today I'm introducing a Private Member’s Bill into parliament, to change the date of HECS indexation and make the system fairer for millions of Australian students and graduates.
HECS indexation is applied before repayments in the preceding financial year are credited to graduates' accounts - so they pay indexation on debt they've already repaid. We wouldn't accept that on our mortgages or credit card debt.
Parliamentary Budget Office costings that I commissioned recently showed that graduates would save $3.2 billion over 10 years if we change the date of indexation so that payments are accredited before it's applied. It's a simple change - 1 June to 1 November.
The Bill will be before parliament today. Let's see how the government responds.
https://t.co/Mtr2BcgRVc
Check out my latest article: The Fourth Element of the DnA of Decision Making Framework: Decision Governance - Designing the Boundaries of Better Decisions https://t.co/T9HHs0tHz1 via @LinkedIn
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Read the full media release here: https://t.co/NWTHuKEu62
#auspol#highered
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https://t.co/8Le1jovZZW
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Read our full Indigenous Strategy Annual Report here. 👇
https://t.co/wl0HFWbhIQ
Source: Department of Education
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Read our full media release here: https://t.co/Eo0kRqa61i
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Read our full media release here: https://t.co/g1utSbtS04