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It's not. There should be a discount for voluntary repayments above the set repayment amounts so people pay it off faster.

Before last year the rate from my history on the ATO never went above 3% from what I recall (could be wrong but that was the highest amount). Years before it was below 2%.

The 7% indexation was the highest I have seen it. I ironically made a voluntary payment this morning ($10k) and will continue making those payment amounts to get it down further.