The opposition has rejected Labor’s proposal to reduce student loans, vowing to scrap the plan if it wins power.
The Coalition argues that Labor’s $16 billion plan to cut HECS-HELP loans is unfair, as it benefits only university students using taxpayer money.
Labor’s proposal aimed to reduce student debt by 20% for more than 3 million borrowers, cutting around $5,520 from a typical $27,600 loan.
Prime Minister Anthony Albanese has defended the plan, stating that Australians shouldn’t carry a lifetime debt burden for pursuing higher education.
However, the Coalition believes relief should be more broadly targeted, such as to young professionals with equipment loans or students who repaid their loans early.
