Ms BYRNES (Cunningham) (19:10): Australians certainly deserve better than another 10 years of those opposite, let me tell you. It is great to be here with the Minister for Education. I have had some fabulous feedback in my electorate when talking to young people about the changes to student debt, which are wiping $3 billion of student debt. The young people of my electorate are very grateful. It's also great to be here with the Minister for Early Childhood Education and Minister for Youth. The Minister for Early Childhood Education and Minister for Youth was an absolute rock star in my electorate. We visited the Kids' Uni and we went to Early Start. We got to play out in the playground and talk to early childhood educators, and we also had a great forum with young people where we talked about fashion and the minister's great ability to crochet a dress. We also spoke about music festivals, education and mental health. So I really thank both ministers for their contribution to my electorate. I know the people of Cunningham are very grateful for the work that they do.

I am very proud to be a part of an Albanese Labor government which is focusing on increasing access, equity and quality in education. Labor governments through the decades have been responsible for introducing some of the world's most envied institutions and initiatives, and education is no different. We introduced Medicare, superannuation, the NDIS and HECS. Not only do we implement these life-changing systems but we are also the only government that continues to strengthen and improve them and make sure that they are sustainable into the future.

We're fixing the HECS system and cutting the student debt of more than three million Australians. This is providing $3 billion in direct support to our students and graduates who had been struggling with the rising cost of living. In response to the Australian Universities Accord, we will cap the HELP indexation rate to be the lower of either the CPI or the WPI, with effect from 1 June. This will benefit every student across the country, including, most importantly, every student at the University of Wollongong with a HELP debt and every tradie at Wollongong TAFE with a VET student loan. We have listened to our community and their concerns, and we are legislating to make the system simpler and fairer.

This reform directly addresses last year's 7.1 per cent spike in CPI, and we're making sure that student debt will never rise faster than your wage. We know that last year's indexation made it impossible for students to get ahead, and that's why we're backdating this to June last year. This also means that any graduate who paid off their HELP loan during the year will receive an indexation credit once the legislation has passed and the ATO has processed the indexation credit. For those out there wondering what this means in real terms for their loan, an individual with an average HELP debt of $45,000 will see over $2,000 wiped from their outstanding debt, and this measure will help students now and also help students into the future.

The Universities Accord was also clear that we need a lot more students at university and TAFE to deliver the large and skilled workforce that Australian needs for the future. We are providing $350 million in additional Commonwealth Grant Scheme funding over four years to fully fund fee-free Uni Ready courses to provide more students with the pathway into higher education, with a focus on students from underrepresented backgrounds. This will result in 30,000 students studying in fee-free Uni Ready courses like those offered at UOW College each year by 2030, an increase of 40 per cent in student numbers and doubling the number of students by 2040.

We are also establishing the Commonwealth prac payment that I spoke about earlier to support students undertaking mandatory work placements as part of their qualifications. I know how stressful it can be juggling work and study commitments, and I am proud to be part of a Labor government that is supporting students in real and tangible ways. The new payment will be for eligible students studying teaching, nursing, midwifery and social work. It will provide around 68,000 eligible higher education students and over 5,000 VET students each year with $319.50 per week during their placement. We are investing in our students and investing in our future workforce.