FactCheck: does Australia run one of the more good education loan schemes in the field?

FactCheck: does Australia run one of the more good education loan schemes in the field?

Senior Associate into the advanced schooling system, Grattan Institute

Adjunct professor, RMIT University

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Australia operates probably the most student that is generous schemes in the field. – Minister for Education and Training Simon Birmingham, talking to Sarah Dingle on ABC broadcast National Breakfast, 4, 2016 january.

When expected for information to aid the assertion, a representative when it comes to Department of Education and Training stated that

In comparison to other education loan schemes, the income-contingent nature of both Higher Education Loan Programme (HELP) loans Trade help Loans (TSL) protects low earnings earners from making loan repayments they could never be in a position to manage. Australia’s education loan schemes enable deferment of payment responsibilities in situations of extreme pecuniary hardship… through the life of the loan Australian pupils spend no interest rate that is real.

It is possible to see the response that is full.

Overall, it is a fact that numerous popular features of Australia’s loan schemes for tuition costs ensure it is more nice than other nations that fee for advanced schooling. But from a student’s perspective, just just how Australia that is generous is on precisely which aspect of the mortgage scheme you’re taking a look at.

This FactCheck will examine exactly just how Australia comes even close to other nations about:

  • The 2 key kinds of education loan schemes being offered right right here and offshore;
  • Exactly just exactly how substantial Australia’s scheme is in comparison to nations with comparable schemes;
  • Just how much you must make in numerous nations before loan repayments begin;
  • Exactly how much different governments internationally subsidise the expense of advanced schooling;
  • The attention rates charged on student education loans;
  • And finally whether there are any national nations where pupils don’t want that loan getting a qualification. (more…)