Repayment thresholds for university degrees will be cut by $13,000 as part of plans to overhaul higher education.

From JulyY next year, students will be required to start paying back HECS-HELP loans once their income level exceeds of $42,000 per year.

That’s down from the existing level of around $55,000.

Andrew Norton, Higher Education Program Director at the Grattan Institute joins Michael McLaren to break down what these changes mean for students and taxpayers.

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