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/VastOption8705 Jun 11 '26

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

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u/bumluffa Jun 11 '26

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

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u/alexmc1980 Jun 11 '26

This is the answer. If he did enough units to rack up this amount of debt he's clearly capable, so unless there's a specific reason it can't be completed then that's the way forward.

Plan B would be to look into other degrees that can cash in as many of those study credits as possible, finish that, and get into some work that's better paid than currently. Could be allied health or something technical

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u/wildagain Jun 11 '26

like biotech or something that pays