Today, indexation will apply to more than 3 million HECS-HELP debts, increasing the amount people will have to repay.
This happens every year to bring debts in line with the inflation rate.
This year, the indexation rate is 7.1 per cent
And, compared to previous rates of 3.9 per cent last year and 0.6 per cent the year before, it represents a significant jump.
Below is a calculator that will tell you how much your HECS-HELP debt will increase.
It's automatically set to $25,000 to represent a typical HECS-HELP debt.
Plug in your debt balance to see what it might look like post-indexation.
Did you pay your HECS debt off before today?
Have indexation rates changed the way you think about your education?
Or is this something you've put off thinking about until you start having to pay off your debt?
If you want to share your story, fill out the form below.
