University graduates are facing further financial strain as HECS student debt is expected to increase by 4.8% on June 1st. The hike is attributed to inflation indexation and exceeds the 3.6% inflation rate. The average HECS debt currently stands at $26,500, meaning borrowers could see an increase of over $1250. The increase will lower than last year’s 7.1% hike, but it comes at a time when graduates are already struggling amid the cost of living crisis.