Labor promised to cut student debt by 20% – for everyone. We said it would be the first thing the Albanese Labor Government did when parliament returned. In the first sitting of the 48th Parliament, we delivered on that promise. I was pleased to contribute to the debate.

Every Australian with student debt – 15,645 people living in Bean – will see a 20% reduction. No application, no forms. Just real cost of living relief. While it will take a bit of time for the Australian Tax Office to process, this one-off reduction will be applied automatically. You don’t need to do anything!

This will help more than three million students and graduates across Australia.

Not everyone will receive their reduction at the same time. However, the 20% reduction in your student debt is guaranteed. After the 20% reduction is applied to your student debt, you will receive a notification by text if your mobile number is linked to your ATO or myGov account, or by email.

You will be able to check how much has been wiped from your student debt by logging into your myGov account.

Whether you’re just starting out in your career, saving for a home or juggling a mortgage or young family – every little bit helps.

This is just the beginning. Through the Universities Accord, we're building something bigger – a tertiary system where your chances don't depend on your postcode, your parents or where you come from.