Millions of Aussies get a $1,200 boost for their HECS/HELP debt - here's what ... trends now
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Millions of university students across Australia will save $1,200 on their debt repayments under measures to reduce the cost of living.
The federal government announced the changes on Sunday, which will cut the indexation of the Higher Education Contribution Scheme (HECS) and the Higher Education Loan Program (HELPS).
The cost savings are set to be announced in the budget on Tuesday, after it is introduced to parliament, and will help more than three million people reduce the cost of their loan repayments.
Millions of students, including trainees and apprentices (pictured) will have their student debt reduce after the government announced the rate of indexation will be cut
The move could mean that up to $3billion in student debt would be wiped off, helping university students, apprentices, and trainees to pay off their debt.
On average, the amount of money students owe to the ATO will be cut by $1,200 on their HECS and HELP debt.
The change will apply
