Millions of Australians will experience a 20 per cent reduction in student debt from November, but indexation woes could continue without careful action.

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A one-off reduction on all Higher Education Loan Program (HELP) debts, including university loans, known as HECS, will be backdated to June 1.

Outside of Australian National University. Picture by Jamila Toderas

Federal education minister Jason Clare said on October 5 that students "will be able to see it and feel it".

"Just out of uni, just getting started - this is taking a weight off their back," he said.

The legislation will

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