“The amount comes off, but then it just comes straight back on plus extra. I haven’t put a dent in it yet.”
Tori works as a full-time vet.
The (AVA) is lobbying in favour of student debt forgiveness programs for regional vets like Tori.
“The ratio of household debt to income has gone up from around 40 per cent in 1970. It’s currently around 180 per cent of household income.”
Shane Oliver, chief economist for AMP Capital.
This increase in debt is paired with the highest inflation rate we’ve seen in two decades. The Reserve Bank governor, Philip Lowe, estimated that rates are expected to rise yet again from 5.1 per cent to 7 per cent by the end of the year. This increase would result in student loans such as Tori’s indexing up even higher, with the prospect of ever paying it off remaining far out of reach.
“I would much rather go and do something that I love every day, find value, and help people and their animals and unfortunately, have a large amount of debt than just go to work every day and not find any value or any meaning in that.”