Current and former students who have HELP or the old HECS debt will see their fees reduced by 20 per cent at the end of next week as the Federal Government honours an election commitment.
Around the country, this will affect more than 3 million people, wiping almost $16 billion in total. Today alone, more than 1.5 million Australians will see their student debts cut by 20 per cent. That’s around half of all people with a student debt.
For someone with the average HELP debt of $27,600 this will see around $5,520 wiped from their debt.
Backdated to 1 June 2025 before the last indexation, it will reduce the burden for Australians with a student debt, including HELP, VET Student Loans, Australian Apprenticeship Support Loans, Student Startup…