Jana Stewart (Victoria, Australian Labor Party) Share this | Hansard source

The Department of Education estimates that around 62,000 First Nations students with a student loan debt will benefit from the reduction of 20 per cent that passed the Senate earlier today. This is a powerful reminder of how economic justice and educational equity must go hand in hand.

I know well the transformative power of tertiary education—how it can unlock doors and illuminate pathways. In 2008, I began my own journey with university education while working full time. I was the first person in my family to attend university. For my family, tertiary education wasn't a viable option. There were many reasons for this, but financial barriers were definitely a significant reason.

That's why I'm proud that Labor is cutting student loan debts by 20 per cent. But this is not simply about easing individual pressure; it is about building a stronger, smarter and more productive future for our nation. The jobs of the future will demand more specialised skills, more training and greater adaptability. Without equitable access to tertiary education, we risk leaving too many Australians behind and our economy without the skilled workforce that it needs. Labor is building a better, fairer system—one that ensures all Australians, regardless of background or postcode, can access the opportunities that education provides.

These reforms sit alongside our broader cost-of-living measures, which also came into effect on 1 July. From tax cuts for every Australian taxpayer to increased rent assistance and expanded energy rebates, Labor is easing pressure on all households in a targeted and responsible way. These cost-of-living measures ease the day-to-day pressure so students can focus on study and not just on survival.

For people wondering why we should support this whether we have a student loan debt or not, it's because the benefits flow beyond just the graduate. They flow into our communities, through our hospitals, our schools and our economy. Every teacher, nurse, engineer or social worker trained in our universities strengthens our communities and our country.