PM to announce change which would see minimum debt repayment threshold lifted from $54,000 to $67,000 from next financial year
Anthony Albanese is expected to describe the change as one of the “core elements of Labor’s policy agenda for a second term”.Anthony Albanese is expected to describe the change as one of the “core elements of Labor’s policy agenda for a second term”.Graduates will be able to earn more money before they start repaying their university debts under new laws to be introduced by the Albanese government next year.
The change would see the minimum repayment threshold lifted from $54,000 to $67,000 in 2025-26, with the average debt holder expected to save about $680 a year. “We will make it easier for young Australians to save in the future, and we are going to make the system better and fairer as well.”It moved to ensure student debts could not outpace wage growth in the future by capping the indexation rate for Hecs and Help loans – tying them to whichever is lower of the consumer price index or wage price index .
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia has fined Google more money than there is in the entire worldRussia has slapped Google with a fine of $US20,000,000,000,000,000,000,000,000,000,000,000 for blocking state media channels on YouTube.
Read more »
Albanese Government’s new HECS-HELP changes to save uni students $680 a year in repayments7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Government commits to HECS-HELP changes that could save debt holders $680 a yearThe changes would mean a shift to a marginal repayment system, as recommended by the Universities Accord, which found existing arrangements disproportionately affect those on lower incomes.
Read more »
Albanese's $4.3m Home Purchase Sparks Outrage Amid Housing CrisisPrime Minister Anthony Albanese has come under fire for purchasing a lavish home in Copacabana for $4.3 million, while Australians struggle with soaring housing costs and financial stress.
Read more »
Labor colleagues frown at Albanese’s $4.3m home purchasePrime Minister Anthony Albanese has faced heavy criticism after it was revealed he purchased a lavish $4.3 million clifftop home at Copacabana on the NSW Central Coast.
Read more »
Anthony Albanese buys $4.3 million ‘clifftop perfection’ propertyThe Prime Minister and his fiancé are buying a home together on the Central Coast in NSW where Jodie Haydon’s family are from.
Read more »