Reductions to HELP loan and other student loans debt

The Australian Government has announced it will reduce a further 20 per cent off student loans debts, reducing $16 billion in debt for more than 3 million people.

Anyone with a student loan, including a HELP debt will have their debt reduced by a further 20% before 1 June 2025, when indexation is applied. The ATO will apply these changes.

The changes are in addition to the introduction of the fairer repayment system changes announced by the government yesterday.

When combined with the indexation changes announced in May 2024 these changes will reduce student debt by more than $19 billion.

For more information visit 20% reduction of student loan debt