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Australian student debt surged, with 433,208 graduates owing $50K+; 20% debt relief planned, but critics say it favors high earners.
Student debt in Australia has surged, with 433,208 young graduates owing $50,000 or more—up 55% in five years—due to rising tuition and indexation, pushing average repayment past 10 years.
The government plans 20% debt forgiveness, fulfilling a campaign promise, but economists say it mainly benefits high earners.
High debt burdens hinder home savings, especially for lower-paid graduates in fields like nursing and social work.
Despite a new home guarantee program, experts warn it may increase long-term borrowing costs.
University leaders stress that tuition prices remain the core issue, and a new commission will review future fees.
La deuda estudiantil australiana se disparó, con 433,208 graduados que deben más de $ 50K; Se planea un alivio del 20% de la deuda, pero los críticos dicen que favorece a los que ganan mucho.