Should you pay off your HECS debt sooner?
Inflation is forecast to hit 8 per cent this year, bumping the price of everything from petrol to health insurance.
It’s particularly bad news for anyone with student debt, which is indexed with inflation each year on June 1. This could mean an increase of nearly $2000 for someone with an average HECS debt of $23,685.
On this week’s episode of It All Adds Up, we ask if it’s worth repaying some of your HECS debt ahead of time, or if it’s best to just let it ride and slowly pay it off over time.
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