Debt relief is on the way for Uni students across the region with legislation tabled in parliament to reduce HECS debts, easing the burden for thousands of Australians.
The Universities Accord Bill 2025 will student debt cut by 20% and will make the loan repayment system fairer by by increasing the amount people can earn before they are required to start repaying their loan and making the size of their compulsory repayments smaller.
Member for Corragamite Libby Coker said the move will ease the cost of living pressures of many students.
“On average, it means that the debt of 27,600 will be cut by $5,500,” she said.
“I’m really proud of this move. It’s going to help a lot of people across Australia and particularly in the electorate of Corrangamite and in Richard Marles’ electorate of Corio.”
“There is also going to be an increase on the payment threshold and will now go to $67,000, which means a difference of about $10,000.”
The opposition has indicated it will support the bill when its brought to a vote within weeks.
