The Albanese Labor Government will raise the minimum repayment threshold for student loans and cut repayment rates to make the repayment system fairer for all Australians with a student debt – around 3 million people.
From 1 July next year, the Government will reduce the amount Australians with a student debt have to repay per year and raise the threshold when people need to start repaying.
The reforms will apply to everyone who has a student debt, including all HELP, VET Student Loan, Australian Apprenticeship Support Loan and other student support loans.
The Government will lift the minimum repayment threshold from around $54,000 in 2024-25 to $67,000 in 2025-26 and introduce a system where repayments are based on the portion of…
