Federal Education Minister Simon Birmingham has unveiled big changes to the Higher Education Loan Program (HELP). With about A$50 billion in outstanding student debt, the goal is to curb costs.
Assuming parliament passes the changes, all students will have to pay more and repay quicker. The changes affect current and future debtors.
How much more will students pay?
Students will pay 7.5% more in fees by 2021 on top of the annual inflation indexation.
For example, a student studying teaching currently pays $6,349 a year. Next year they will pay about $6,600.
Australian Government (2017)
Overall, by 2021, students will pay between $2,000 and $3,600 more for a fou…
Read the full article at: http://theconversation.com/explainer-how-will-the-changes-to-help-student-loans-affect-you-76977