The federal government’s plan to use taxpayers’ money to wipe $16 billion off student loans was welcomed with fanfare by the usual suspects in the media, universities and politics, and hailed as a win for young Australians.
According to the announcement, university students are set to save $5,500 on average and the minimum repayment threshold will be lifted from $54,435 to $67,000 and indexed to sit at 75 per cent of average graduate earnings.
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