Labor has promised to slash student debt in a “massive” election pledge designed to appeal to young Australians.
Labor promises to slash HECS debt by 20 per cent in a ‘massive’ election commitment saving some young Australians $10,000
Individuals with a HECS debt of $27,000 – the average student loan debt – will save $5,000 as a result of the change, while Australians with a student debt of $50,000 will save $10,000. Education Minister Jason Clare said the changes would be a “massive help” for the three million Australians who currently have student debt from a university or TAFE qualification. Picture: NCA NewsWire / David Swift
“When you and I were at university back last century, university was a lot cheaper than it is today,” Mr Clare told Andrew Clennell. “This fixes that. It fixes that for this generation of Australians. Three million Australians have got uni and TAFE qualifications over the last decade or so.On Saturday the government announced plans to raise the HECs threshold so that graduates won’t have to start paying back their debt until they earn over $67,000, rather than the current threshold of $54,000.
Labor is promising to slash student debt by 20 per cent in a"massive" election commitment that will save some Australians as much as $10,000.“Whether it's TAFE or whether it's university, the individual benefits and the country benefits as well," he said.
Coalition Labor Hecs Jason Clare
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