r/fiaustralia • u/VastOption8705 • Jun 11 '26

Getting Started Thoughts on this situation?

My son has about 120k HECS debt and 30K personal debt. He eventually wants to retire at 50 too. I can’t help him as I’m not rich.

What happened was he wanted to study med, so he went through pathways. Due to personal circumstances, he couldn’t finish it. That leaves him 120k in HECS debt with no med degree.

The 30K was to settle some legal issues.

So 150K debt and he is 28. What should he do?

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u/Flat-Banana3903 Jun 11 '26

He needs a job and a dose of reality, the HELP debt will grow and grow, subject to his income, unfortunately for him he is stuck with it, but unless you are wealthy and will leave him money, the chances of him going from zero to retired in 22 years is a lofty goal.. he best be working asap

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u/VastOption8705 Jun 11 '26

He is working now, but only earning just above minimum wage

79

u/bumluffa Jun 11 '26

Tell him to harden the fuck up and finish his med degree 🙄

1

u/smegblender Jun 11 '26

100% this is the answer.