Kate Thwaites (Jagajaga, Australian Labor Party) Share this | Link to this | Hansard source

I've heard from so many in my community—students, parents and grandparents—about how student loan debt is too high and how change is needed. Our government has listened to these concerns and has changed the way these debts are indexed. As well, it has wiped the costs of last year's spike in the CPI indexation rate. Three million people across our country, including 22,264 people in Jagajaga, will receive a cut in their student debt. A person with an average debt of $26,500 can expect $1,200 to be wiped from their outstanding loans this year. We know times are tough and these changes will provide significant relief for all Australians with a student debt.Last Monday, I met with La Trobe University students in my electorate who are going to benefit from this change. They told me about how these changes will reduce their fears about what taking on a university debt might mean for their future; how it will make them feel more stable about getting a foot in the door in homeownership, establishing themselves with a secure footing.

Labor is supporting young people to get the better future they deserve. This is good for them and it's good for our whole community. Thank you to all in my community who advocated for this important change. We have listened to you. We are making lives easier for Australian students, putting them on the best pathway to the future.

Milton Dick (Speaker) Share this | Link to this | Hansard source

In accordance with standing order 43, the time for members' statements has concluded.