Millions of Australians will see their student debt slashed from next month.
The federal government said the Australian Tax Office would begin applying the 20 per cent cut from mid-November, with most seeing their balances reduced by the end of the year.
Education minister Jason Clare confirmed the timeline on Sunday and said about three million Australians would benefit from the debt relief.
“We promised we would cut your student debt by 20 per cent and we are delivering,” he said.
“This cut is already locked in to people’s balances at 1 June but soon they will be able to see it and feel it.”
Here’s everything you need to know.
How much is the cut and who will benefit?
The cut is a one-off reduction of 20 per cent on all Higher…