Student debts would be slashed by 20 per cent under the latest part of the federal government’s election pitch to ease cost of living pressures for young Australians.
A university graduate with the average debt of $27,600 would see about $5,520 wiped from their outstanding loan next year under a re-elected Albanese government.
The waiving of fees follows Saturday’s commitment to reduce the amount graduates have to repay each year and allow them to earn more before having to pay down debt.
The whole package would cost the budget more than $500 million.
Jason Clare has already faced opposition backlash over the plan. (ABC Alice Springs: Lara Stimpson)
The government has argued the changes would not be inflationary as the debt reduction would…
