Australia plans $10.5 billion in student debt cuts to ease costs

Australia’s Labor government has pledged to cut A$16 billion ($10.5 billion) from student loans for universities and other higher education to help ease rising living costs.

The government plans to cut all student loans by 20% from June 1 next year, impacting more than three million Australians, according to a joint announcement on Sunday from the Prime Minister. Anthony Albanese and other ministers. “My government will ensure our education system is fairer and more affordable for every Australian,” he said.