“We’re very supportive of government action to reduce financial pressures on students and graduates,” Universities Australia Chief Executive Officer Luke Sheehy said.

“No one should have to choose between owning a home and attending university.

“This is a practical change that will ensure university graduates are treated fairly when they want to buy a house, as they should be.

“We know cost pressures are a factor in people’s decision to start and finish university.

“As Australia’s need for skilled graduates grows, we need to be doing everything we can to open the door to university for more Australians.

“This is another step to help with that, building on the Albanese Government’s previous commitments to make student loan repayments fairer.

“I want to thank Professor Mary O’Kane and the Australian Universities Accord panel for recommending this change and I congratulate the Treasurer for making it a reality.”