‘Best Text Message Ever’: Albanese Government Begins 20% Student Debt Cut for 3 Million Australians – What It Means for You Today (22 November 2025)
The Australian Taxation Office began applying a 20% reduction to eligible student and training debts from this morning, affecting about 100,000 people immediately and 3 million over three weeks. The government estimates $16 billion in student debt will be wiped. The compulsory repayment threshold has also risen to $67,000 a year. No application is required for the debt cut.
