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HECS architect says labor loan cut leaves real issues unresolved

HECS architect says labor loan cut leaves real issues unresolved

The architect of the country’s higher education loan program says the Albanian government’s plan to cut $16 billion from existing debt is a political exercise and does not solve emerging problems with the program, as economists warn the proposal Labor will favor high income earners.

Bruce Chapman, who designed the means-tested student loan system known as HECS for the Hawke government in 1989, said he supported the other changes the government made, including raising the income threshold from $54,000 to $67,000, at which point loans must be repaid.

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