National Australia Bank has become the latest lender to ignore some Higher Education Loan Program debt when assessing new home loans.
From July 31, NAB says if someone owes $20,000 or less in student debt, it won’t affect how much they can borrow should they take out a new loan with the big four bank.
This will help lift the borrowing capacity of a potential borrower, as banks consider income, liabilities and outstandings when calculating how much they will give a potential borrower.