Jess Walsh (Victoria, Australian Labor Party, Minister for Early Childhood Education) Share this | Hansard source

In addition to wiping $20 billion of student debt, the Albanese Labor government is making HECS repayments fairer. We know that people shouldn't have to start paying off their HECS debt until their study starts paying off for them. That is why we are raising the threshold where repayments kick in from just over $54,000 a year to $67,000 a year. So, for someone earning $70,000, it will reduce the minimum repayments they have to make by $1,300 a year. This is a big deal. It's a big deal for young people when every dollar really counts as they're setting themselves up for the future. So, for young Australians who are just out of uni, just getting started, this will take a weight off their back. No matter where you live or what your parents do, the Albanese Labor government is making sure the doors of opportunity are open for you.