{"id":66317,"date":"2024-05-07T13:55:41","date_gmt":"2024-05-07T03:55:41","guid":{"rendered":"https:\/\/cms.star1045.com.au\/?p=66317"},"modified":"2025-11-06T11:16:48","modified_gmt":"2025-11-06T00:16:48","slug":"money-expert-glen-james-breaks-down-whats-s-going-on-with-hecs-debts","status":"publish","type":"post","link":"https:\/\/cms.star1045.com.au\/home\/money-expert-glen-james-breaks-down-whats-s-going-on-with-hecs-debts\/","title":{"rendered":"Money Expert Glen James Breaks Down What\u2019s s Going On With HECS Debts"},"content":{"rendered":"\n

Money expert Glen James phoned into Gina & Matty<\/a> this morning to break down what the heck is going on with our HECS debt into simple terms.<\/p>\n\n\n\n

In case you missed it, the Federal Government announced over the weekend that they\u2019re allocating $3 billion to wipe past and present student\u2019s Higher Education Loan Program \u2013 commonly known as HECS \u2013 debt to help ease cost of living pressures.<\/p>\n\n\n\n

Speaking to Gina & Matty, James broke down what it means for the average Coastie with a HECS loan, revealing that someone with a $25,000 loan which has been indexed for the past two years could see a saving of over $1,000.<\/p>\n\n\n\n

\u201cIf you have, say, a $25,000 HELP balance, you\u2019ll get $910 credited back for last year and $210 for this year,\u201d James told Gina & Matty.<\/p>\n\n\n\n

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\u201cNow I want to make it clear that if last year after June 1, you completely cleared all your HELP debt you will effectively get [that] credited back to you as a tax refund.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Interesting. Very interesting.<\/p>\n\n\n\n

James also revealed he is a little sceptical of this announcement in the lead up to May 14th\u2019s Federal Budget.<\/p>\n\n\n\n

\u201cI’m more of a sceptic than I\u2019m an economist. But through these announcements, particularly on the HECS and HELP loans and the paid placements, I actually think they are feel-good announcements that have been strategically said before next Tuesday night,\u201d James explained.<\/p>\n\n\n\n

\u201cAnd maybe it is a bit of a look over here. Because we\u2019re going to cut a whole bunch of stuff.\u201d<\/p>\n\n\n\n

You can hear Glen James\u2019 full chat with Gina & Matty<\/a> \u2013 including what paid placement for students could mean for the economy \u2013 below, or via the Star Player and of course, wherever you get your fantastic podcasts.<\/p>\n\n\n