The Albanese government’s promise to cut HECS-HELP debt will help get more people into homes sooner.
As part of its election promises, the Labor government has cut all HECS-HELP student debt by 20 per cent.
This totals around $16 billion in debt for more than three million Australians.
The relief will help students pay off their debts sooner and better qualify for a loan, assisting more young Aussies into home ownership.
On top of these changes are the recent removal of $3 billion worth of debt through the government’s changes to cap the indexation applied to student loans to the lower of the Wage Price Index or the Consumer Price Index. This means that indexation will never be higher than the…