Education Minister Reintroduces Bill to Slash $3 Billion in Student Loans

Published on August 15, 2024

The Albanese government has reintroduced a bill aimed at eliminating over $3 billion (US$2 billion) in education debt for three million Australians. Education Minister Jason Clare presented the bill in Parliament, which some critics have labelled as a direct attempt by the Albanese government to woo young voters ahead of the elections. The bill seeks to amend the Higher Education Loan Program (HELP) indexation methodology, basing it on either the consumer price index (CPI) or the wage price index (WPI), depending on which is lower. “The big hike in student debt last year hit a lot of Australians hard, particularly young Australians who made their voices heard. The Albanese government has listened, and we are acting,” Clare stated....

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