Inflation-driven higher education debt increases to hit millions of Australians

Data shows that over the past two decades, the proportion of Help debts worth over $10,000 has steadily increased. Photograph: Michael Burrell/Alamy

Millions of Australians with Higher Education Loan Program (Help) loans could face thousands of dollars in extra debt this year as soaring inflation hits the education sector.

Independent modelling provided to Guardian Australia suggests Australians with an average Help debt of $24,770.75 will face an increase of at least $1,700 when it is next indexed on 1 June, assuming, as is likely, that living costs remain high.