Student Debt cut by 20%More News

The Albanese Labor Government is busy turning promises into progress, and Amanda is getting to work straight away!

Helping with the cost of living is at the top of Labor’s agenda. At the election, Labor promised to cut student debt by 20% – for everyone.  This was the first Bill introduced last week when Parliament resumed and Amanda is very proud to announce this has passed by Parliament today!

This means less debt and more money in your pocket!

More than three million Australians will benefit from these changes.

Every Australian with HECS or student debt, including VET and TAFE loans, will see a 20% reduction in the next six months – with an average saving of $5500.

Amanda knows that student debt has been a real issue for many in our community, which is why the government are raising repayment thresholds to reduce pressure on people when they can least afford it.

These changes will make life easier for students and graduates as they start out in their careers, start families, juggle a mortgage, or save for a home.

Helping with the cost of living, investing in the next generation, and supporting workers and families are all top of Labor’s agenda. And we’re absolutely focused on delivering for Australians.

There’s lots to do and I will continue to work hard to deliver for our local community to ensure all Australians have the best opportunities for a better future.