Billions of dollars of student debt have been wiped from the accounts of 100,000 Australians.
The Albanese government’s pre-election promise to ease student loan debt passed parliament in August and has begun to roll out from today.
About three million Australians will have a total of $16 billion of all student loans, including HELP, VET, apprenticeship support loans and student startup loans.
The first 100,000 people will see their debt slashed from today, with another three million to follow in the next fortnight.
Australians will receive a text message or email from the Australian Tax Office when the changes are automatically applied.