Australia's education minister, Brendan Nelson, has denied the view that HECS debts (Australia's student loan system) has overwhelmed university students as they enter the workforce after university.

According to this article Brendan Nelson said, "It's an interest free loan, you only pay it back if and when you're working it's against your future income. For every dollar you pay, the taxpayer's already paid three and if you are not working, or you go out of the work force or you are a low income earner, you actually don't have to pay anything back."

I have a HECS debt and I have to say the fact that I am oweing the government more and more money every semester is a little concerning.

I mean, once I start in the workforce I start roughly $12000-$15000 dollars behind. That and increasing house prices mean that I have to work twice as hard than people in my situation back when higher education in Australia was free (mid '70s I believe).

Having said that, if it wasn't for HECS (in the current $3000+ per semester uni environment) I wouldn't be able to afford going to uni. Hmmm... something to think about.