In Australia, the cost to the student of university education is about 50% of the actual cost of the course. The rest is paid for by tax payers. Students have the option to pay fees up front at a discount, or to pay over time once their income reaches a set level – in the current financial year this is $48,361 . No interest is charged, but loans are indexed to the annual rate of inflation.
Now leftist media and politicians are saying some students are having difficulty paying those debts, and they should be waived, or at least, no longer indexed.
Here’s a thought:
- Don’t take on more debt than you are confident you can manage.
- If you are taking on debt to undertake study or training, make sure it is for a course that will help you to earn additional income which will be sufficient to cover the debt.
- If it is just for interest or fun, don’t go into debt for it.
- If you take on obligations, don’t whine and expect others who have not had your advantages to to cover them for you.
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