Greens say they will remove all outstanding student debt
The federal Green Party has announced its intention to ask the next elected government to abolish student debt after the federal election.
The Greens announced the new policy on Thursday alongside their previous pledge to make TAFE and universities free.
It is the first major Australian party to make it a policy ahead of the federal election. Student debt is a real problem for young people, so you love to see it.
Greens Senator and Spokesperson for Education Mehreen Farouqi and candidate for the Senate of the Greens SA Barbara Pocock will launch the policy.
“Abolition of all student debt will have enormous positive impacts for millions of people who can afford to live a better life,” Senator Faruqi said in a statement.
“Young people and women have borne the economic brunt of the pandemic. With the cost of living and housing soaring, it’s time to relieve them by erasing their student debt.
“High levels of student debt prevent many young people from finding secure housing,” Pocock added.
“It means that they start their professional life in the red. My generation didn’t start that way. The last three decades of continuous economic growth mean they shouldn’t either.
Melbourne Greens MP Adam Bandt said young people “shouldn’t leave TAFE or college with a loan that will take a lifetime to repay” in a Tweet on Thursday.
“We need to cancel every penny of student debt,” Bandt said.
You shouldn’t leave TAFE or Uni with a loan that will take a lifetime to repay.
We must cancel every penny of student debt.
— Adam Bandt (@AdamBandt) March 23, 2022
The party said the policy could be funded by repealing the Stage 3 tax cuts proposal put forward by the Parliamentary Budget Office in 2024-25.
The Australian Institute reported that the cuts would mean people earning more than $200,000 (JFC is a lot of money) would pay $9,075 less in taxes. But middle-income people would pay $1,080 more in taxes, and those earning less than $45,000 would save nothing.
It is not at all surprising that we young people fall on this spectrum. But both major parties would support the proposed tax cut.
The Greens have said they also plan to reverse Liberal education cuts and increase funding for universities by 10%. He claimed the extra funding would increase job security on campuses and democratize an industry that has gradually become less government-funded.
“Higher education must be completely rebuilt based on the principles of democracy and equity, where staff and students enjoy the best teaching and learning conditions. Nothing less will do,” Faruqi said.
“The Greens will ensure free education for all, whether you are leaving school, changing careers, retraining later in life or looking to learn new skills and knowledge. Education is a right, not a privilege reserved for those who can afford it.
Good news for you, your bank account, your big brain that loves to learn and your dream of going on a solo trip to Europe before you turn 30.
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