The Greens’ recent announcement to cancel HECS debt and make university free has the potential to be transformative (particularly for Indigenous Australians) because this policy offers more than financial relief; it promises to open doors to homeownership, entrepreneurship and economic independence—outcomes that align closely with the needs and aspirations of Indigenous communities across Australia.

Reducing HECS Debt, Increasing Opportunity

For many Indigenous Australians the burden of HECS debt is a significant barrier to financial progress because student loans often delay life milestones (such as purchasing a home or starting a business) and by eliminating HECS debt, the Greens’ plan could empower Indigenous Australians to achieve these goals sooner.

But in particular, young Indigenous Australians would have the freedom to invest in assets that build long-term wealth and stability rather than being tied down by the weight of educational debt.

Enhancing Home Ownership Among Indigenous Australians

Indigenous homeownership rates lag significantly behind the national average, a massive disparity that contributes to broader wealth gaps.

And the latest research shows that homeownership rates in Australia were only 42% for Indigenous households, while it was 68% for non-Indigenous households (a 26 percentage point gap).

So without HECS debt, Indigenous graduates would be better positioned to save for home deposits and secure housing loans, which could lead to an increase in homeownership rates within Indigenous communities, fostering economic stability and providing families with a valuable asset to pass down through generations.

Fueling Indigenous Entrepreneurship

The Greens’ plan also holds promise for aspiring Indigenous entrepreneurs because without the burden of student debt, more Indigenous Australians could follow this path and start investing in business ideas that drive both personal success and community development, which would support the growth of Indigenous-owned businesses and contribute to economic diversity within the broader Australian market.

Funding for a Future Beyond Debt

The Greens propose funding this ambitious plan by taxing large corporations profiting from the rising cost of living… and for Indigenous Australians, this reallocation of resources could mean not only a reduction in personal debt but also increased support for community-led initiatives and programs, which signals a shift toward a more equitable approach to education funding, one that prioritises accessibility and fairness.

A Path Toward Economic Equity

For too long Indigenous Australians have faced systemic barriers to financial and educational equity.

Thus, by wiping HECS debt and making university free the Greens’ proposal represents a step towards closing these gaps, which offers Indigenous (and ALL) Australians the chance to pursue higher education without the fear of lifelong debt, creating a future where education is a tool for empowerment rather than a financial burden.

This policy is not just about debt relief; it’s about creating a fairer system that recognises education as a right, not a privilege… and for Indigenous communities, it could mean new opportunities for homeownership, business, and economic empowerment—a future where Indigenous Australians are free to invest in their aspirations, unencumbered by the financial weight of their past.