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AAP

National

Cassandra Morgan

Relief for students with $3b of HECS debt eliminated

HECS Jason Clare HELP

The government will eliminate $3 billion in HECS debt by capping the student loan indexation rate. (Paul Miller/AAP PHOTOS)

More than three million Australians will have their student debt wiped, with an average deduction of $1200.

Education Minister Jason Clare on Sunday announced the government would cap the Higher Education Loan Program (HELP) indexation rate, eliminating about $3 billion of student debt.

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