Floodwaters batter Indian towns
Torrential monsoon rains continue to wreak havoc across northern and eastern India, with widespread flooding reported in Uttar Pradesh and West Bengal...
Australia’s parliament passed legislation on Thursday to cut student loan balances by 20%, providing more than AU$16 billion ($10.31 billion) in debt relief for three million Australians, as part of the government’s efforts to ease cost-of-living pressures.
The law, the first passed since Prime Minister Anthony Albanese’s center-left Labor Party was re-elected in May with a sweeping majority, fulfills a key campaign pledge aimed at addressing rising financial burdens on younger generations.
“We promised cutting student debt would be the first thing we did back in parliament – and that’s exactly what we've done,” Albanese said in a statement. “Getting an education shouldn't mean a lifetime of debt.”
Education Minister Jason Clare said the measure would help relieve financial stress for young Australians.
“Young Australians don't always see something for them on the ballot paper, but they did this year and they voted for it in their millions,” Clare told reporters. “And we're repaying now the trust that these young Australians have placed in us.”
Millennials and Generation Z made up 43% of the 18 million registered voters in May’s general election, surpassing the number of Baby Boomers.
Labor framed the debt cut as a move to address intergenerational inequality and alleviate living costs.
Under the new law, a university graduate with an average student loan of AU$27,600 would have AU$5,520 wiped from their debt.
The changes will be backdated to 1 June, 2025, before a 3.2% indexation for inflation takes effect.
The legislation will also raise the minimum income threshold for loan repayments from AU$54,435 ($35,100) to AU$67,000 ($ 43,200), reducing payment burdens for low-income earners.
Different countries have various approaches to student loans.
As of the end of 2024, the average total student loan debt in the U.S. stood at approximately $38,375 per borrower, based on federal student aid data, just below the federal average of $39,075 noted in early 2025, according to BestColleges.
In England and Wales, student loans are automatically written off after a set period (typically 25 or 30 years, depending on the loan plan). Graduates repaying under income-contingent repayment schemes pay only when their earnings exceed set thresholds, with interest applied differently under each plan. Students in England now graduate with an average debt of £53,000 ($68,3700).
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Talks on a global treaty to reduce plastic pollution risk falling apart as countries remain divided over how to limit plastic production.
The Kremlin responded cautiously to U.S. President Donald Trump's order to reposition nuclear submarines, urging restraint in nuclear rhetoric and emphasizing the importance of diplomacy during rising tensions over Ukraine.
On Monday, the Kremlin announced that Russian President Vladimir Putin may meet U.S. envoy Steve Witkoff this week as part of ongoing efforts to mediate the Russia-Ukraine conflict. U.S. President Donald Trump also warned of possible sanctions if a ceasefire is not reached soon.
Two new videos released by Palestinian militant groups Hamas and Islamic Jihad have sparked international condemnation and renewed pressure on Israel and the global community to secure the release of hostages held in Gaza since the October 7, 2023 attacks.
Preliminary discussions between Thai and Cambodian defence officials began on Monday in Malaysia, setting the stage for a high-level ministerial meeting scheduled for Thursday, as a fragile ceasefire continues to hold following last week's border clashes.
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