Young, 'vulnerable' students say they were misled into 1990s government 'debt trap'

Young, 'vulnerable' students say they were misled into 1990s government 'debt trap' | 7.30

As the Federal Government moves to ease the financial pain felt by Australians with large HECS debts, a different group of former students is asking for their debt to be wiped.
About 140,000 Australians still owe $2.1 billion from the Student Financial Supplement Scheme, which ran from 1993 to 2003.
Under the Keating government scheme, students on welfare payments such as Austudy or Youth Allowance could trade in their entitlements in return for twice the amount as a loan to pay for everyday expenses.
They could effectively double their money by giving back their welfare payments, but had to pay back double.
The Howard government scrapped the scheme, calling it a 'debt trap'.
7.30’s Jason Om reports.
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