Labor’s pre-election pledge to cut student and apprentice loans by 20 per cent has now passed parliament, becoming the first piece of legislation enacted by the newly re-elected Albanese government.
“We promised it and we’ve delivered,” federal Education Minister Jason Clare told reporters on Thursday morning.
“They voted for it in their millions, and we’re now repaying the trust that these young Australians have placed in us.“
The bill passed on Thursday also contains an increase in the repayment threshold, meaning a debtor can now earn up to $67,000 a year before the minimum repayment kicks in.
Mr Clare said raising the threshold makes the system “fairer”.
The pledge to cut debts was evidently popular with many voters during the 2025…