A sweeping cost-of-living boost has begun reaching millions of Australians, with the Albanese government activating its long-promised plan to cut student debt for roughly three million people.
The $16 billion initiative—legislated in July—will be implemented over the next three weeks, marking one of the largest reductions of education-related debt in Australia’s history.
The Australian Taxation Office (ATO) will begin notifying people from Saturday that their study-related loans have been automatically reduced by 20 per cent. The measure applies across HELP loans, VET Student Loans, Australian Apprenticeship Support Loans, Student Startup Loans, and other education lending programs. No application is required; the reductions will…