Student debt is out of control and the Labor Government is refusing to act.
On June 1, more than 3 million Australians were hit with a student debt avalanche. Labor blocked the Greens’ attempts to stop this student debt indexation from happening and ignored desperate pleas for relief.
People are being locked out of the housing market, denied personal loans and rethinking dreams of further study. For many, their student debts are growing faster than they can be paid off.
This year, with inflation so high, millions of Australians were slugged with a 7.1% increase:
The average student debt went up by at least $1750 - for others it was much more.
Greens Deputy Leader and Education Spokesperson Senator Mehreen Faruqi has been pushing tirelessly for the Government to step in and save Australians from this student debt bomb. Senator Faruqi first introduced a bill in the Senate to remove indexation and raise the minimum repayment income more than 6 months ago.
We know indexation is predicted to be high next year, and if Labor refuse to provide reprieve, you can bet the Greens will make this an election issue.
The student loan system is broken. It’s time to wipe all student debt and make TAFE and Uni free. That’s what the Greens are fighting for.
We know that rising student debt is causing real emotional and financial strain on so many people.
There are study, financial, and mental health resources below