Proposal to use super to pay student debts

Liberal senator Chris Back wants students to be able to tap into their superannuation to pay off student loans.

Tertiary students at the University of Melbourne

A Liberal senator has proposed students could use their superannuation to pay of their study debts. Source: AAP

A Liberal senator wants graduates to be able to pay off their student loans using superannuation.

Chris Back says the plan would ease cost of living stresses for young people in their 20s and 30s at a time when they likely have young families and mortgages, allowing them to make up the shortfall in their superannuation later in life.

"I am very hopeful it will find its way into this year's budget," Senator Back told ABC radio on Thursday.


Share
1 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world