If you are thinking of going overseas to avoid having to repay your HELP (or HECS) student loans, your time has run out.
News Ltd reports that the Senate passed legislation yesterday that will close a 16-year-old loophole that allowed people who live overseas to skip out on paying.
“The new law will apply to 46,000 people. It is expected to save the budget $150 million over 10 years,” the report says.
Education Minister, Senator Simon Birmingham says former students should have to pay back their loans, even if living overseas, and especially if they are making good money on the back of their degree.
Labor has backed the legislation. The Green are opposed.
