The Greens have added a promise to evaporate the student debt of 3 million graduates to a policy of making university and TAFE education free, in an election pitch to challenge Labor that would cost more than $120 billion over the next decade.

The Greens will announce on Monday they would cancel all student debt – which currently totals $81 billion – by “taxing big corporations that are profiting off price gouging during a cost of living crisis”.