‘I didn’t even realise it’: 28-year-old reveals how long it took him to pay off his HECS debt

A young Aussie has revealed the staggering reality behind his $35,000 HECS debt and what left him shocked.

Media personality Mitch Churi has shared the grim reason he has been able to pay off his HECS debt.

The 28-year-old told news.com.au he was stunned to discover that he’d paid off his higher-education loan last year.

“I didn’t even realise I’d done it,” he said.

Mr Churi explained that he chopped and changed degrees three times but only ever studied at university for one year, ending up with no degree and being $35,000 in debt.

The radio star argued that the system is clearly broken given that someone who has worked full-time since he was 19 has only just paid off one year’s worth of HECS.

“I’m very lucky to have paid it off, but I’ve been working since I was 19, and I only know one another friend who has paid off their loan and they are an influencer earning stupid amounts of money,” he said.

“The whole system is set up so poorly.”

He didn’t even know he’d paid off the loan. Picture: Instagram/MitchChuri

It took him nine years of working full-time. Picture: Instagram/MitchChuri

The young Aussie explained that he feels like Millennials and Gen Zers turn a “blind eye” to HECS debt because it is just one thing no one can control.

Mr Churi said he felt so much “resentment” being $35,000 in debt and having no degree.

“I don’t have the degree, and I’ve given the government all my money, but I have nothing to show for it,” he explained.

The 28-year-old said that now people are being hit with indexation, which peaked at 7.1 per cent in 2023, and dropped to 4 per cent in 2024.

He argued it has made the loan option feel like a “sham” rather than a fair option for university students.

“I don’t know anyone who works a 9-5 job that has paid it off. My aunty is 50 and did an arts degree, but it hasn’t paid it off. Every year, she’s getting about $3,000 extra because of indexation,” he said.

“A b*tch can’t catch a break.”

He said the whole system is a “sham”. Picture: Instagram/MitchChuri

He argued HECS is crippling for young people. Picture: Instagram/MitchChuri

Mr Churi said his partner recently graduated from university after studying speech pathology and was stunned to discover how much his HECS debt had also amounted to.

“He thought it was going to be like $30,000, it is $60,000! For someone that is like 21, and it gets indexed, it can be crippling,” he said.

The entertainment star said he thinks people now feel that HEC debt will “stay in their lives forever” and aren’t optimistic about paying it off.

“It just hangs over your head,” he said.

It is also confusing, Mr Churi doesn’t even know who he is meant to blame for such a shoddy system.

“Who am I angry at? A certain government, at MyGov? I don’t even know where to direct my anger,” he said.

Mr Churi, who was sacked by KIIS FM in November 2024, said that getting rid of the debt has been such a “genuine relief”.

Working in media means he can go from making a solid living to dealing with “dry” periods and not having that debt makes a massive difference.

Mr Finch said it is not the worst debt you can have. Picture: istock

Financial expert Julian Finch said that HECS debt is always a “burden” but is obviously better than most other debts.

“It isn’t a bad debt to carry,” he said.

Mr Finch said he deals with many people who are still well into their thirties with HECS because degrees cost so much.

“I’ve got doctors in their mid-30s, who still have over $100,000 of HECS and are earning a truckload,” he told news.com.au.

Mr Finch said that the government really decides how much HECS impacts people. He argued that if Prime Minister Anthony Albanese gets in again and fulfils his election promise of wiping student loan debt by 20 per cent, you’d be better off waiting for that than paying it off in a lump sum.

The plan would reduce the average HELP debt of $27,000 by about $5520, but it will not be introduced until a new parliament is sworn in this year.

“Two years ago, if you decided to pay it out, you’d have missed out on the bonus,” he pointed out.

Originally published as ‘I didn’t even realise it’: 28-year-old reveals how long it took him to pay off his HECS debt