Student Loan Relief:
Resources
The Australian Government is making changes to support people. The resources below explain the Australian Government's student debt relief and how it will benefit people with a student loan.
Resources
View the resources below
Infographic
Advertising
View the videos below
Student loan — 15 second digital video
There is more support for Australians.
People with an existing student loan will now pay less overall.
To understand these changes and how they benefit you visit supportingaustralians.gov.au
Student loan — 15 second social video
We’ve made changes so Australians with an existing student loan will now pay less overall.
Tap now to understand these changes and how they benefit you.
Animation
View the animation below
Student loan relief animation
The Government has made a change to how indexation is calculated for Australian Government student loans.
Indexation is the adjustment applied to your loan each year to reflect the changes in the cost of living. Previously, the adjustment was determined by the change in the Consumer Price Index (CPI).
Moving forward, the indexation rate will be determined by whichever is lower – the Consumer Price Index (CPI) or the Wage Price Index (WPI). This ensures your student loan’s indexation will never grow faster than the average wage.
The change is being applied retrospectively from 1 June 2023, so indexation that was applied to loans in 2023 and 2024 will be recalculated and reduced by using the lower Wage Price Index (WPI), instead of the higher Consumer Price Index (CPI).
The Australian Taxation Office (ATO) is automatically applying this change to outstanding student loans. And if you repaid your student loan after 1 June 2023, you may receive the credit as a refund to your bank account as recorded by the ATO (assuming you have no outstanding tax debts).
Visit the ATO website for instructions on how to check your balance.
For more information, including eligibility for small business owners, visit supportingaustralians.gov.au