Anthony Albanese’s proposal to alleviate $3 billion in HECS-HELP student debt for three million Aussies has sparked a flurry of questions and mixed reactions across the nation.

“Can I reclaim the HECS I’ve already repaid in full?” queried one user on social media, capturing the sentiments of many.

NAB has cut interest rates on its discounted variable home loan. But an expert says borrowers shouldn’t get too excited by the move.

The major Australian bank dropped interest rates on its Tailored Home Loan today by up to 1 per cent. The change means the advertised variable rate is now 6.79 per cent for owner-occupiers and 7.09 per cent for investors.