Education Minister Jason Clare is under mounting pressure to fix the “broken” student loans system, from independent MPs who say indexation is saddling young people with unconscionable levels of debt.

“If you are an average Australian now finishing a degree and earning around $60,000 a year and have an average-size HECS debt, it increased last year by $1700 because indexation was higher than the amount you paid off,” teal independent MP Monique Ryan said.