The government is facing cross-party pressure to close a "cynical" HECS loophole, with one MP warning a private member’s bill will be “ready to go” if the May budget is insufficient.
HECS-HELP debt is indexed to inflation, and reached its highest point in three decades last financial year, with the average $25,000 debt rising by $1750. Many Australians owe more at the end of a financial year despite making regular repayments.