We’re gonna keep this short, but lord knows we can’t keep it painless.
The Turnbull government has released details about the impending changes to HECS-HELP repayment and funding cuts to universities.
Here is a selection of noteworthy deets, presented to you in bullet points, because they may as well have been fired out of a gun directed at your face.
- University fees will be 7.5% higher by 2021
- As of next year:
- A three-year arts course will cost $700 more
- A three-year science course or a four-year teaching course will cost $1250 more
- A six-year medical degree will cost $3900 more
- Currently, students pay 42% of their fees and the taxpayer pays 58% – this ratio will change to 46% student-paid, 54% taxpayer paid
- In 2018, 7.5% of a university’s federal funding will be not be guaranteed, and will be dependent on “performance requirements”
- And le kicker: you’ll be paying back more of your HELP/HECS debt earlier. Instead of waiting until you’re earning $54,869, the government will start dipping into your fragile cash-pot as soon as you’re earning $42,000 a year
Some not-so-sour points:
- Universities will be required to release the employment and income stats about their graduates from each degree
- $15 mil will go into funding eight new regional study hubs
- New Zealanders will have access to HELP loans, so say g’day to more Kiwi banter
Sure, it’s not as bad as the potential 25% cut to university funding or deregulation of fees. But considering most of the punters who are pushing these changes through paid sweet fuck-all for their degrees, it stings.
The full report is avail here.