Fears mount over growing student debt in Australia

There are concerns about growing student debt in Australia, which has increased by an average of $1700 per former student from today after a hefty annual indexation that will apply to HECS-HELP loans.

And it will become just another barrier for many young Australians wanting to buy a home.

“It has become one,” Andrew Norton, Higher Education Program Director at Grattan Institute, told Ross and Russel when asked if it was a factor banks took into account when looking at home loan applications.

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There are calls for the entire concept to be reformed.

Press PLAY below to hear a student leader speak with Neil Mitchell