The government announces student debt repayment thresholds for ’23
The minimum income increases from $48 000 to $51 000, where the repayment is 1 per cent, it tops out at 10 per cent for incomes over $151 000.
The indexation rate is 7 per cent this year – less a hike than a long march from O.6 per cent in ’21.
For some the news could have been way worse
The Department of Education ethereally announces (detail wise) that it has identified “a small proportion” of past and present HE students whose loan records “were not properly transferred” to their Australian Taxation Office accounts.
So people who did not know what they owed are not “financially disadvantaged” DoE says annual indexation is waived for this and previous years
DoE says it will get in touch with affected people this month and next – “resolved” loan records will appear at the ATO by August – which may make for media stories of the “students slugged with debts they did not know about” kind.