New figures show that paying off a HECS loan may significantly reduce a graduate’s borrowing power for a mortgage, with a potential impact of almost $100,000. Graduates on salaries of $125,000, $100,000, and $75,000 could see their borrowing capacity reduced by $95,900, $56,300, and $26,800 respectively due to their HECS debt. This is because banks consider a mortgage applicant’s debt-to-income ratio before lending money, and indexation levels on HECS debts have been increasing annually.
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Paul Murray: State Budget surpluses haven’t been planned, they’re the result of a run of historic luck
Rita Saffioti, facing a challenging week due to significant cost overruns in government IT projects and concerns over the usability of Metronet railcars, is managing a budget that will increase the state's debt from $28.3 billion to $42.5 billion by 2028-29, despite predicting cash surpluses. Critics highlight that her financial management, buoyed by inflated revenues from iron ore and a favorable GST deal, fails to control rising debt levels, emphasizing her reliance on luck rather...
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