Student debts in Australia are sky-rocketing, with the amount of individuals owing more than $100,000 has doubled in the last 5 years, and Australian's collectively owe more than $81 billion in debt through the system. 

But the current student loan system has changed dramatically since HECS was conceived in 1989. Professor Bruce Chapman, the founder of the HECS system joined RN Breakfast to reflect on the past and future of student debt in Australia and warns the "worst is yet to come."

• Guest: Professor Bruce Chapman, Emeritus Professor of Economics at the Australian National University