This reduction in student debt is designed to allow borrowers to retain more of their earnings, easing their financial burdens.

Furthermore, the Budget plans to make 100,000 TAFE places free from 2027, which will benefit vocational students and help alleviate cost pressures.

Jim Chalmers, the Federal Treasurer, recently presented a Budget that emphasizes significant investments in education and aims to provide cost-of-living relief for families.

Chalmers highlighted that cheaper child care serves as a vital form of economic relief, enabling families to work more and ultimately enhancing their living standards.

Additionally, approximately $407.5 million over four years is earmarked for jurisdictions, including Western Australia, as part of the Better and Fairer Schools agreement, which mandates specific educational reforms.

A key aspect of the Budget is its focus on incentivizing parents, particularly secondary earners, to boost their workforce participation through tax cuts and subsidized child care.

To support this initiative, the Budget allocates $3.6 billion for wage increases for the early education and care workforce, alongside $426.6 million for subsidized child care for eligible families starting in January 2026.

In addition to child care support, the Budget includes a 20% cut to outstanding student loan debts, aimed at providing substantial financial relief to borrowers.

Education expenses are projected to rise by 11.8% over the next three years, driven largely by an increase in students with disabilities and funding for disadvantaged university students.

The Budget also allocates $7 million to expand initiatives in science, maths, and technology, with a portion specifically designated for the early education maths program Let's Count.