Australia Plans $10.5 Billion in Student Debt Cuts to Ease Costs.

Australia's Labor government plans to reduce student loans by A$16 billion ($10.5 billion) to alleviate the financial burden on over three million Australians pursuing higher education. The proposed 20% reduction in all student loans, effective from June 1 next year, aims to make education more accessible and affordable. This initiative follows a recent announcement to lower student debt repayments and increase the repayment threshold, addressing the challenges posed by rising living costs and high inflation rates in the country. [Extracted from the article]