HECS Debt Indexation Rises with Inflation

High inflation is driving up HECS debt indexation rates. This means higher repayments and extended debt periods for graduates entering the workforce.

At Subi, we understand the significant financial strain this places on young professionals. Recent data shows average HECS indexation jumped from 1.76% (2013-2021) to 5.50% since 2021. This translates to higher repayments and extended debt burdens, impacting financial security and life goals.

Investing in a skilled future workforce is critical for Australian businesses and our national economy. That's why Subi prioritises initiatives that support graduates managing their HECS debts. Subi is the ally employees need when dealing with HECS management. Subi empowers employees to leverage your under-utilised annual leave for strategic financial decisions.

Here's how:

• Cash Out Unused Leave: Convert accrued excess annual leave into cash through Subi.
• Direct HECS Repayments: Utilise these funds for voluntary HECS contributions directly through Subi, making a significant dent in your debt.

While Subi is a powerful tool, the challenge of rising HECS debts requires a collaborative approach. We urge employers and educational institutions to consider:

• Highlighting platforms like Subi that empower graduates to manage their finances effectively.
• Equipping graduates with the knowledge and tools for smart financial planning.

Let's empower the next generation to take charge of their financial future. Find out more at www.subi.au