THOUSANDS of residents across the Corangamite electorate will have their student debt cut by an average of $5,500, following the passing of the newly re-elected Albanese Government’s first piece of legislation.
The 48th Parliament convened for the first-time at the end of last month, with Labor’s pre-election promise to slash student and apprentice debt by 20 per cent, the first priority.
About 18,000 people in the Corangamite electorate alone are expected to benefit from the new legislation, which has also seen the minimum repayment threshold rise to $67,000, up from $54,000.
Speaking to the bill last week, Corangamite Labor federal member Libby Coker said the legislation will mean more…