“These changes are a significant win for Australians with a HELP debt and will make a real difference in people’s lives,” Universities Australia Chief Executive Officer Luke Sheehy said.

“Calls to put students first have been loud and clear, and the Albanese Government has listened and taken decisive action.

“We know cost-of-living is a factor in people’s decision to start and finish university and this relief will give people more confidence in pursuing a degree while providing much-needed support for those already paying off a HELP debt.

“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.

“Universities Australia, along with students and calls from across the Parliament, has lobbied for changes to make HELP simpler and fairer and we are entirely supportive of the Government’s course of action.

“We look forward to the Government’s further response to the Australian Universities Accord final report in the coming weeks.”