The reforms will deliver:
-
a one-off 20% reduction in HELP and student loan balances, effective from 1 June 2025. Someone with the average Higher Education Loan Program (HELP) debt of $27,600 will see around $5,520 wiped from their outstanding student loan.
-
Lower repayment amounts, under a new marginal repayment system making it easier to manage living expenses.
-
Higher income thresholds, increasing how much people can earn before repayments are required, allowing graduates to keep more of their earnings. The new repayment threshold will change from $54,435 to $67,000.
Would have been nice a couple of years ago before I paid off the last of mine, but I guess one can’t have everything…
You could if you were a billionaire. Although there is a paradox in that technically you’d have no soul.
