Cutting student debt by 20 per cent

Address to the House of Representatives, Adjournment

Thursday 24 July 2025

We are focused on delivering our election commitments to build Australia future, ease cost-of-living pressure and help Australians earn more and keep more of what they earn, and that work has already begun in this place.

The Universities Accord (Cutting Student Debt by 20 Per Cent) Bill 2025 was introduced on Wednesday. What this means is that every Australian with a HECS or other form of student debt such as a TAFE or VET loan will enjoy over the next six months a 20 per cent reduction in that debt. This will amount to an average saving of $5,500 for the more than three million Australians with a HECS or other student debt. In Bean, that means relief for 15,645 student debts. This bill will give so many of my constituents substantial relief, particularly those early in their work lives in careers critical to the future our nation.