The Government Wants Students To Pay Their Student Loans Off While They're Studying
Students might have to start paying back their HECS/HELP loans while they're still at uni.
Hidden away, among thousands of numbers in the 2016 Budget, there's one sentence that will terrify uni students and graduates.
Here it is...
Is says: "to improve repayments from [low-income students who live in high-income households], it has been suggested that a household income test be introduced".
Buried on page 22 of its 'Driving Innovation, Fairness and Excellence' discussion paper is the one and only mention of this "household income test" in this year's Budget. It's kind of like they didn't want anyone to find it.
So, what's a household income test?
It's a measurement of how much money your family makes each year.
Family in this instance, means either your parents (if you live with them) or your de-facto.
So your income + your family's income = total household income.