The federal government has introduced legislation to parliament to wipe 20 per cent off the value of the country’s collective student loan debt. It was one of Labor’s big election promises, and the party is finally making good on that pledge.
A poll of more than 3,000 Yahoo Finance readers found 51 per cent of people felt they would never fully pay off their HECS debts by themselves or without government support. Once this measure is passed, a person with an average loan of $27,600 will have around $5,520 taken off their total.
“This is another way my government is continuing to deliver cost-of-living…