The suburbs most affected
Data analysis reveals that Sydney's inner-city suburbs hold the highest levels of student debt in Australia. The report highlights the impact of the government's 'Job-ready Graduates' package on rising debt levels for arts and business students.
Why it matters
It highlights the growing financial burden of higher education on young Australians and the political debate surrounding university funding policies.
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Share A A A Sydney’s affluent inner-city suburbs are home to lovingly restored terrace housing, designer dogs and sought-after restaurants.
They also play host to the nation’s highest student debts.
Higher Education Contribution Scheme, or HECS, data analysis by KPMG obtained by this masthead shows 483,606 taxpayers in Sydney owe a combined $15.2 billion.
The Australian government provides a HECS loan to eligible university students who then repay their debt through the taxation system. HECS does not attract interest but is indexed every June to keep pace with inflation.
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