Jason Clare says going to university ‘makes you money’ as he defends 7% indexation rise in student loans

Education minister says if he were to freeze indexation, it would cost taxpayers who might not have a degree

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The education minister has said he would not intervene to reduce the burden of indexation on student loans because going to university makes you money" and taxpayers would cop the bill" for any reforms.

The three million Australians with Hecs or Help loans were hit with a 7.1% increase on Thursday, the highest rate in more than three decades. For people with an average student debt of $24,770, it equated to a $1,759 increase.