Wiping $3 billion in student debt

Wiping $3 billion in student debt Main Image

We’re wiping around $3 billion in student debt for more than 3 million Australians – more than 21,000 in our community alone.

To do this, we’re introducing HELP loan credits for people impacted by the recent inflation spike.

An individual with the average debt of $26,500 will be receiving a credit of around $1,200 this year.

We’re also making sure that student debt never grows faster than someone’s wages or ability to pay it off. Last year’s indexation spike wasn’t fair – under our changes, it won’t ever happen again.

See how much you’ll save at: https://www.education.gov.au/helpestimator