Universities Accord (Cutting Student Debt by 20 Per Cent) Bill 2025

Summary

Amends the Higher Education Support Act 2003 and 5 other Acts to: provide a one-off 20 per cent reduction to Higher Education Loan Program debts and certain other student loans that are incurred on or before 1 June 2025; and increase the minimum repayment threshold from $54,435 in the 2024-25 financial year to $67,000 in the 2025-26 financial year and provide that compulsory student loan repayments are calculated on income above the new threshold rather than being based on a percentage of the repayment income.