Since the inception of HECS, millions of Australians have been through uni using the student loan to cover their costs, repaying the government once they’re earning over a threshold.

It's a system that's stood the test of time, but with the debt being indexed inline with inflation, the bill for around three million Australians is climbing at the fastest rate in decades. 

So does the system need to change? 

Today, the architect of HECS on whether it's still working.  

Featured: 

Dr Bruce Chapman, former economic advisor to the Hawke government, architect of HECS and Emeritus Professor, Australian National University, Canberra