Anthony Albanese has revealed the government’s bill to wipe $3 billion off Australia’s collective HECS debt has finally been introduced to parliament. The measure was announced prior to this year’s Federal Budget and many have been patiently waiting for it to go to the next step.

It’s expected to deduct around $1,200 from the average student loan debt, which has been calculated to be $26,500. Teal MP Monique Ryan, who has led the charge for an overhaul of the HECS system, told Yahoo Finance this could be the tip of the iceberg.

“This is just the beginning of a significant change to our…

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate products and services to help you make smart decisions with your money.

• For Love & Money is a column from Business Insider answering your relationship and money questions.
• This week, a reader has medical debt after their wife’s death.
• Our columnist suggests getting an itemized bill and finding out what costs can be cut.
• Got a question for our columnist? Write to For…

For many Americans, debt is more than just a financial issue: it’s a problem with far-reaching health and social implications. Research suggests that rising debt and worries about financial security are related to heightened levels of psychological distress, which in turn leads to adverse health outcomes such as heart disease, immunosuppression, emotional exhaustion and even increased mortality.

A recent study by Northwestern Mutual showed that 66% of respondents carried some form of debt and the average personal debt reached approximately $23,000. Compounding the concern over rising debt are feelings of financial insecurity: Roughly one-third (33%) of adults…

The Kuwaiti businessman behind a troubled £2.5bn Kent theme park meant to rival Disneyland has been declared bankrupt.

Abdulla Al-Humaidi, who was a key backer of the proposed London Resort development scheme, was confirmed to be insolvent at a High Court hearing last month.

It is the latest twist relating to the “Dartford Disneyland” scheme, which Mr Al-Humaidi previously ran as a director of London Resort Company Holdings.

London Resort, situated near the Thames in Ebbsfleet, was formed 12 years ago to rival the world’s biggest theme parks. However, it has been plagued by setbacks, including the discovery of a rare spider that hampered…

The South African Post Office (SAPO) is insolvent, and its debt obligations have increased to R12.5 billion.

This is according to a statement from the business rescue practitioners this week, who said the state-owned company must improve revenue and implement an effective and efficient cost structure to become factually solvent.

Joint Business Rescue Practitioners Anoosh Rooplal and Juanito Damons have been working with Sapo management to address its financial issues.

“The SAPO asset base is dwarfed by its total liabilities of approximately R12.5 billion as of 31 July 2023,” they said.

Rooplal said addressing the decline in the Post Office’s revenue, reducing costs, effecting key structural changes in the business model, and…

IN 1920 ACCORDING TO FEDERAL DATA, THERE WERE ABOUT 925,000 BLACK FARMERS, OR ABOUT 14% OF ALL FARMERS.

A CENTURY LATER, THERE WERE ONLY 42,000 OR 1%.

MUCH OF THAT IS A LEGACY OF SYSTEMIC DISCRIMINATION IN AGRICULTURE DEPARTMENT PROGRAMS.

ALI ROGIN REPORTS ON HOW THE BIDEN ADMINISTRATION IS TRYING TO HELP FARMERS WHO HAVE HISTORICALLY BEEN EXCLUDED FROM GOVERNMENT ASSISTANCE PROGRAMS.

ALI: TODAY, BLACK FARMERS OWNED LESS THAN 1% OF U.S.

FARMLAND, ACCORDING TO THE AGRICULTURE DEPARTMENT’S LATEST FARMER CENSUS BUT EFFORTS ARE UNDERWAY TO HELP THESE FARMERS RECLAIM THEIR LOST LAND.

LAST MONTH, THE USDA ISSUED OVER $2.2 BILLION IN PAYMENTS TO BLACK AND OTHER MINORITY FARMERS ACROSS THE COUNTRY.

IT’S A MOVE THE DEPARTMENT HOPES WILL OFFSET DECADES…

The U.S. is among the most indebted countries in the world—and the problem is only getting worse.

The federal government’s debt is currently $33 trillion and annual deficits just reached the highest in U.S. history outside of the pandemic years (at nearly $2 trillion). Not only are we spending more than we’re taking in, but the long-run growth in our…

The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12 months. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. Prices after the first 12 months may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details.