The major bank is following regulator recommendations and implementing student debt servicing assistance to help boost home ownership.
NAB will no longer consider Higher Education Loan Program (HELP) debt in home loan servicing if they owe $20,000 or less, effective from 31 July.
Matt Dawson, NAB’s executive for home ownership, said these changes will help get more first home buyers into the market.
However, he also recognised that supply remains a key challenge, calling on “collaboration across the board” to help address these issues.
Last month, APRA set a start date for its guidance on the servicing of HELP debt when assessing home loan applications, kicking off on 30 September 2025.