A Big Win for Australians with Student Loans, Including Right Here in Greenway

Education should empower, not burden, Australians. That’s why the Albanese Government’s decision to cut 20 per cent off all student loan debts is a crucial step toward a fairer, more accessible education system that helps millions nationwide, including right here in Greenway.

In Greenway, over 22,000 people—17.2% of our electorate—are carrying Higher Education Loan Program (HELP) debts.

For these hardworking Australians, this reform will make a real difference.

Whether juggling rent, childcare, or daily living expenses, Greenway residents with HELP debts now have the opportunity to see their financial load lightened significantly.

From June next year, anyone with an existing student loan—whether from university, TAFE, apprenticeships, or vocational education—will benefit from a 20 per cent reduction.

For someone with the average HELP debt of $27,600, this means around $5,520 simply wiped away, freeing up that money for other vital expenses. This isn’t just relief—it’s recognition of the importance of education and the heavy cost that can come with it.

Many Australians struggle with the added pressure of repaying loans while managing housing, living expenses, and family needs.

This 20 per cent reduction, combined with our recent indexation reform, aims to ease this burden in a practical way. Beyond debt relief, we’re adjusting the repayment system to allow Australians to keep more of their earnings before they start repaying their student debt.

This is a holistic approach to ease the financial strain on graduates and working Australians, allowing them to put money toward their lives and futures. With 500,000 fee-free TAFE places, expanded University Study Hubs, and a new framework to ensure managed growth and needs-based funding for universities, we’re building an education system that works for everyone.

Reducing student debt is about more than just money—it’s about delivering real, lasting change for Australians. We believe in an Australia where no matter where you live or your financial background, education is within reach, opening doors to opportunity and prosperity.

Together, these reforms ensure a brighter future for all Australians, especially those in Greenway, empowering our community to build the future our country deserves.