The Bill includes a number of measures that will benefit higher education students, however it must first be passed by both Houses of Parliament.

Once passed, the Government will introduce the Commonwealth Prac Payment, a direct payment to teaching, nursing and midwifery, and social work students to support them during their mandatory placements. More information about the Commonwealth Prac Payment is at: www.education.gov.au/higher-education/commonwealth-prac-payment.

The change will also reduce the indexation of HELP debts. Indexation was applied in 2023 at 7.1%, and in 2024 at 4.7%. Once legislation passes, indexation will be retrospectively changed to 3.2% (for 2023) and 4% (for 2024). Students won’t have to apply to get the credit – the ATO will automatically calculate it. Use the HELP Indexation Credit Estimator to check how much credit you could receive at: www.education.gov.au/helpestimator.

StudyAssist will provide more information when the Bill is passed.