11/12/2024 

From today, 27,000 will see around 15,000 25,000 30,000 35,000 40,000 45,000 50,000 60,000 100,000 130,000 $5,835

*Actual credit amount will vary depending on individual circumstances including repayments made during the year. All HELP debts that were indexed in 2023 and 2024 will receive an indexation credit.

This is just the first stage of our reforms to make student debt fairer.

We're helping with the cost of degrees and the cost of living.

Next year, the Albanese Labor Government will cut a further 20 per cent off all student loan debts, raise the minimum repayment threshold for student loans and cut repayment rates.

To calculate how much your student debt could be cut by, visit https://www.education.gov.au/help-debt-reduction-and-repayment-estimators.