Page 11 - Byfields Budget 2024

But the government will now change the way indexation to student loans
are calculated.

This measure will be backdated to June 1 last year, which means all
student debts that were indexed in 2023 will also be reduced.

Under Labor's plan, HELP or HECS debt will be indexed in line with the

much lower wage price index, which means their debt would have
increased by 3.2 per cent.

The indexation would default to whatever was lower out of the wage price

index or the consumer price index, with Labor citing higher inflation in
early 2023.