A total of $3 billion will be wiped off millions of Australians student debts for tertiary education in an Albanese government pitch to younger voters punished by years of rising rents and consumer prices.
Facing Greens and crossbench blowback on its agenda to help financially insecure Millennials, the government has revealed a major change to the calculation of student loan indexation to save the average graduate $1200 on their total debt.
Education Minister Jason Clare.Credit: Alex Ellinghausen
The $48.5 billion worth of loans are indexed once a year and pegged to inflation, which rose by a once-in-a-generation 7.1 per cent last year and remains high, f…
Read the full article at: https://www.smh.com.au/politics/federal/labor-wipes-3b-off-student-loans-as-cost-of-living-relief-measure-20240503-p5fotw.html