A RECENTLY announced cost-of-living policy being sold by Federal Government as a saviour for 23,000 students throughout the Blair electorate will put money back into their pockets despite counter claims that it is just a “smoke and mirrors” exercise.
The Federal Labor Government will cut 20% from all student loan debts, wiping about $16 billion in student debt across the country.
The initiative includes all HELP, VET Student Loan, Australian Apprenticeship Support Loan and other income-contingent student support loan accounts that exist on June 1 next year.
Federal Member for Blair Shayne Neumann said the initiative was the start of the government’s positive plan for a second term, building Australia’s future.
“The average debt at the moment is about $27,000, so this initiative will cut their debt by more than $5000,” Mr Neumann said.
“Our reforms will benefit about three million Australians, including about 23,000 in the Blair electorate.
“This is about putting money back into your pocket – and putting intergenerational equity back into the system.”
But the Independent Tertiary Education Council Australia (ITECA ) has said the initiative falls short and fails students.
