Analysis conducted by the Parliamentary Library shows that Labor’s much-touted 20% student-debt cut collapses to a mere 7.9% once indexation since their election in 2022 is accounted for. In other words, the impact of the 20% student debt cut is severely diminished by indexation, even after the Government’s changes to indexation by tying it to the lesser of WPI or CPI.
For a student with a $30,000 student debt in 2022 when the Albanese government came to power, after Labor’s indexation tweaks and the promised 20% debt cut, they will end up with a debt of $27,619 – only 7.9% below what they began with.
The Greens have relentlessly pushed the Albanese Government to deliver desperately needed student debt relief since they came…