Australia’s Prime Minister Anthony Albanese.
Photo: MIKE BOWERS / AFP
Australia’s parliament on Thursday passed a law to cut student loans by 20 percent, wiping more than AU$16 billion (NZ$17.4 billion) in debt for 3 million people, and fulfilling a key election promise to help mitigate the rising cost of living.
The law is the first passed by Prime Minister Anthony Albanese’s centre-left Labor Party since being re-elected in May with one of the country’s largest-ever majorities.
“We promised cutting student debt would be the first thing we did back in parliament and that’s exactly what we’ve done,” Albanese said in a statement.
“Getting an education shouldn’t mean a lifetime of debt.”
Education Minister Jason Clare said…