More than three million Australians are expected to have their student debt cut in the federal budget as a part of measures to ease cost of living pressures.
Education minister Jason Clare said the decision would wipe about $3 billion in higher education loans, after loans increased by 7.1 per cent last year as a result of surging inflation.
The government said a person with an average HELP debt of $26,500 would see about $1200 wiped from their outstanding loans pending the passage of legislation.
Clare said the Australian Universities Accord had recommended the government…
