Today the Albanese Government has passed legislation through the House of Representatives to cut the student debt of more than three million Australians.
The legislation will wipe around $3 billion in student debt from workers and students across the country.
The Universities Accord (Student Support and Other Measures) Bill 2024 which caps the HELP indexation rate at the lower of either the Consumer Price Index (CPI) or the Wage Price Index (WPI) with effect from 1 June 2023 will now move to the Senate.
The Government will backdate this relief to all HELP, VET Student Loan, Australian Apprenticeship Support Loan and other student support loan accounts that were indexed on 1 June last year.
This will benefit all Australians with a…
