Millions of Aussies with outstanding student debt will have their deficits deepened on Sunday, despite a promised slashing of student debt being some two months away.
One of Labor’s big ticket pre-election promises was to slash HECS, VET and apprenticeship loans by 20 per cent as soon as Anthony Albanese’s government was re-elected.
People’s debt will jump on Sunday when the annual increase kicks in, as laws to make the 20 per cent cut won’t be introduced to parliament until MPs return in late-July.
“It will be the first bill that we introduce into the parliament when parliament sits for the first time in the last week of July,” Education Minister Jason Clare said this week.
The 20 per cent cut will be backdated but will not…
