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The government has introduced its bill to reduce student debt. Photo: Australian National University.
The Federal Government has fired the starter’s gun on the business schedule for the new parliament by introducing its legislation to cut student debt.
Labor’s bill seeks to cut 20 per cent off all higher education student debts, with the aim to wipe away more than $16 billion for about three million Australians.
It’s likely to pass with little trouble, as both the Opposition and the Greens have signalled enough initial support for it to get up when it arrives in the Senate.
The government won’t need any help to have it first pass the House of Representatives.
Anthony Albanese said the aim of the bill was to deliver cost of…
Students and graduates will soon receive a cut to higher education debts but advocates say the government must do more to make university fees fairer.
Legislation was introduced to parliament on Wednesday to slash HECS debts by 20 per cent and increase income thresholds before minimum repayments kick in.
It is expected to be passed with the support of the opposition in the coming weeks.
Prime Minister Anthony Albanese credited the bill as a key reason behind Labor’s victory in the May election.
“Because it resonated with those young Australians in particular, who are looking for intergenerational equity measures, which is what this is, saving some three million Australians an average of $5500 each,” he said during question time.
The government has introduced its bill to reduce student debt. Photo: Australian National University.
The Federal Government has fired the starter’s gun on the business schedule for the new parliament by introducing its legislation to cut student debt.
Labor’s bill seeks to cut 20 per cent off all higher education student debts, with the aim to wipe away more than $16 billion for about three million Australians.
It’s likely to pass with little trouble, as both the Opposition and the Greens have signalled enough initial support for it to get up when it arrives in the Senate.
The government won’t need any help to have it first pass the House of Representatives.
Anthony Albanese said the aim of the bill was to deliver cost of…
Many African countries are already struggling with heavy debt burdens. Climate change is making this worse. Africa contributes the least to global emissions but suffers the most from extreme weather, rising temperatures and drought. These disasters affect not just people’s livelihoods but also national revenues, making debt repayment harder. Yet traditional debt contracts don’t account for this.
Debt forgiveness can help erase your debt, but it’s important to know whether it’s worth pursuing with rates still paused.
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The Federal Reserve made headlines again this week when it decided to keep its benchmark interest rate unchanged at a range of 4.25% to 4.5% during its July meeting. The decision to hold rates steady is a continuation of the central bank’s wait-and-see strategy, which it has implemented for 2025 as it monitors how inflation trends and policy decisions impact the costs of everything from…
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
Harsh economic times have been cited as the reason for the liquidation of a Wanaka interior design business.
Wanaka Interiors, which was incorporated in March 2022, was placed in liquidation by shareholders resolution last month.
In their first report, liquidators Trevor and Emma Laing, of Laing Insolvency Specialists, said the business, owned by Celeste and Isaac Benefield, provided interior design services and retail of high-end home goods.
Economic conditions resulted in declining revenue and the decision to close the retail operation was made. The decision was then made to formally wind down the business, new tenants were secured for the company’s leased premises and company assets were realised.
Macau concessionaire MGM China issued a rare gaming-related statement in the early hours of Wednesday morning in which it said a legal matter linked to gambling debts involving Hong Kong actor Jacky Heung Cho had been terminated and all debts settled.
The statement followed reports in Hong Kong media earlier in the day alleging that Heung had borrowed HK$2 million (US$255,000) from MGM China – operator of MGM Cotai and MGM Macau – on 1 December 2024 for the purpose of gambling. The reports also claimed that Heung still owed the company around HK$1.4 million, prompting MGM to file action with the Hong Kong District Court seeking payment of the…
The National Company Law Tribunal (NCLT) Hyderabad bench of Sri Rajeev Bhardwaj (Hon’ble Judicial Member) and Sri Sanjay Puri (Hon’ble Member Technical) has held that in absence of any payment received by the Corporate Debtor in a subcontracted work executed by the Operational Creditor, application under section 9 of the IBC cannot be entertained. Filing such an application would be an attempt to use the IBC as a forum to recover the debt which is against the objectives of the IBC.
The present application has been filed under section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor (CD).
The “NOKIA” rapper opened up about the downsides of his gambling habit by revealing exactly how much money he lost in one month of placing sports bets.
In a post shared to his Instagram Story June 19, Drake shared a screenshot that gave an overview of his net profits from wagering bets over the course of one month. And according to the image, the 38-year-old had lost a total of $8,235,686 after placing a whopping $124,527,265 worth of bets throughout the four-week period.
“Gotta share the other side of gambling…” Drake wrote atop the tally. “Losses are so fried right now.”
