Students would save $3bn over a decade if Labor changed Hecs indexation date by five months

Exclusive: Costings commissioned by independent MP Monique Ryan show possible savings for university graduates, as Hecs debts increase by $1bn on Monday

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University graduates would save more than $3bn over a decade if the government changed the date of indexation on Hecs debts, dubbed a broken system" in its current form by independent MP Monique Ryan.

About 3 million students and graduates will see their Hecs debts increase by $1bn on Monday, when they are indexed by 2.8%.