Millions of Australians are still facing a weeks-long wait to see promised student debt relief kick in after the new legislation took effect in late September.

The laws fulfil a key election pledge to cut student debt by 20 per cent for all Australians.

Today, it’s been revealed when people can expect to start seeing that tangible relief.

The tax office will begin applying the cut from mid-November, and anticipates that 50 per cent of people with a student debt will see the cut kick in by the end of that month.

Almost everybody else will see the cut applied to their balance by mid-December.

“Soon millions of Australians with student debt will get a text message from the ATO when the 20 per cent cut to their debt has been processed, a cut we promised during the election and have delivered,” Assistant Treasurer Daniel Mulino said.

“This is helping millions of students and graduates across the country who have invested in their education with the next step in their lives.”

Regardless of when it kicks in, the reduction will be backdated to what a person’s debt balance was on June 1, before indexation.

People will be notified by text message or email when the cut happens and will be able to check their accounts to see their new lower balance.

For someone with the average debt of $27,600, this will see $5520 wiped.

No action from debtors is required to ensure the cut is applied – it will happen automatically.

“We promised we would cut your student debt by 20 per cent and we are delivering,” Education Minister Jason Clare said.

“This is a big deal for 3 million Australians.

“This cut is already locked in to people’s balances at 1 June but soon they will be able to see it and feel it.

“Just out of uni, just getting started, this is taking a weight off their back.”