Albanese government 'copying Biden's playbook' in move to wipe $3 billion from student debt
Millions of Australians with student loans will see their HECS debt cut in a bid to target financial relief for younger Australians.
The Albanese government will erase around $3 billion worth of student debt in the upcoming budget by changing the way HECS loans are indexed year-on-year.
Albanese government ‘copying Biden’s playbook’ in move to wipe $3 billion from student debt
Someone with an average debt of $26,494 would have about $1200 cut from their outstanding loans this year under the change.
Sky News host Rowan Dean discussed the federal government’s move to erase billions of dollars in tertiary education debt under relief measures.
Mr Dean labelled the move made by the government a “copy” from Biden’s playbook.