Alice Jordan-Baird (Gorton, Australian Labor Party) Share this | Link to this | Hansard source

Whether it's a buzz or beep, over the next two weeks more than three million Aussies will be getting a notification to say their student debt has been cut by 20 per cent. Wiping 20 per cent off every student's debt was the first piece of legislation this Labor government introduced into parliament this year, and in the next few weeks millions of Australians will see that reduction when they log into their myGov. This is about lifting the burden for Australians with student debt, including HECS debt, VET student loans, Australian apprenticeship support loans, student start-up loans and other student loans. This will help people in my own family and more than 26,000 people in my electorate of Gorton who have student debt. These might be young people starting their apprenticeships, or they could be people who finished their bachelor or masters degrees a long time ago but who still have a debt that lingers. It will cut more than $500 million from VET student loans and Australian apprenticeship support loan balances, giving VET students a leg-up when they enter the workforce.

After the 20 per cent reduction is applied, people will receive a text or email letting them know this has happened—no applications, no forms, just real cost-of-living relief. This is about intergenerational fairness, making sure every generation can experience the benefits of an affordable education. At the end of the day, everyone deserves a good-quality education, no matter where they live.