Australians with growing student debt will have to wait to see their balances reduced by 20 per cent, despite Education Minister Jason Clare saying it’s the government’s first priority.
However, the changes require legislation and parliament doesn’t commence until the end of July.
In the meantime, student loans will rise by 3.2 per cent due to annual indexation calculations (based off the Consumer Price Index).
So, how will these changes be applied?
When can we expect the cuts to be made?
Clare is adamant that the cuts to student loans will be the “very first legislation” Labor introduces when parliament returns on 22 July.
Once it’s passed, he confirmed that outstanding student debts will be wiped retrospectively.
Education Minister Jason…
