“This is another big win for Australians with a HELP debt and will make a positive difference at a time many are doing it tough,” Universities Australia Chief Executive Officer Luke Sheehy said.

“It’s very pleasing to see the Government continuing to put students first by building on the reforms announced earlier this year that change the way student debts are indexed.

“We know cost-of-living is a factor in people’s decision to start and finish university. This additional relief will provide much-needed support for those already paying off a HELP debt.

“We also hope it will give more people confidence to study at university. Australia needs a strong pipeline of skilled workers to ensure our future success, which means educating more graduates.

“HELP has opened the door to university for millions of Australians. It’s vital that the system continues to support the expansion of higher education as Australia’s need for graduates grows.

“The Albanese Government is taking steps to ensure this happens.”