australian uni students

[HardWiredZ]

i think its great

[jezraw]

i think its great

no one gives a fuk what you think yank scum

[HardWiredZ]

no one gives a fuk what you think yank scum

y u mad

[envisu]

y u mad

our education system is going to turn into yours eventually. what a disaster =(

[HardWiredZ]

our education system is going to turn into yours eventually. what a disaster =(

stay safe

[GodsParticle]

i think its great

Location: United States

...

[AMERICAN_BEAST]

our education system is going to turn into yours eventually. what a disaster =(

So you're going to have world-class institutions?

[Drewcifer69]

So you're going to have world-class institutions?

World class institutions that only 10% of the population can afford to learn in.

Just remember - there's always gonna be the chit uni's like SCU and USC that will have to charge a pittance to get people to study with them.

[Griev]

AuBrahs,

I think this will be the first time that people under around 40 are actually going to have it a little hard.

As a nation we have a land size comparable to the U.S with 7% the population. It is not easy, and our government is currently in the red.

We must change this "she'll be 'right" attitude. We all have a habit of half-assing. As people we cannot afford to do it anymore, we must strive to for perfection in anything we do. As we now compete on a global scale for business, jobs, housing, etc.

It's not going to get any easier. We might have a AAA credit rating, but how many government departments have been sold off? They even sold NSW lotteries which was actually turning a profit. When I see government starting to liquidate assets, it reminds me when people start struggling they sell off household items.

How do people propose we get back into the positive? We have to make cuts, no? Also, we as a nation have extremely high private debt.

What I like most out of the proposed budget, was that at least Joe gave us a direction in which they intend to push the country, which is medical research. Because when the corporations are finished raping our country, and all we are left with is holes in the ground, we need something to continue with..

Anyway that is life, at least the Australian legacy of a battler will continue.

[confusedbrah10]

havent read thread but does this mean that atar score is now irrelevant and its all about how much you want to pay for uni?

[mrcolorblind]

havent read thread but does this mean that atar score is now irrelevant and its all about how much you want to pay for uni?

there is more scholarships... but it still wont cover the entire cost of the course unless you get HD's for every single unit and your ATAR being 98+ at the same time. You're pretty much ****ed and have to pay out your ass if you have anything less than that

[AMERICAN_BEAST]

World class institutions that only 10% of the population can afford to learn in.

Just remember - there's always gonna be the chit uni's like SCU and USC that will have to charge a pittance to get people to study with them.

If one is going to a decent school a majority of the aid is through grants which don't need to be paid back.

[TheAdz95]

Perks of having a chitty political system.
You want a bad party, or a worse party?

[CollegeStudent8]

Looks like Australia is following the US into a massive s.h.i.t hole

[Hnnnnnggggg]

came in expecting pics of young uni sloots slooting it up

[illmaisCHIT]

Perks of having a chitty political system.
You want a bad party, or a worse party?

democracies are so fckin stupid

[KBurn]

500 million from Aboriginals, out of which 245 million is given to school chaplains?

I know people often moan about them going on welfare, but maybe take away some of the welfare money, give them more programs, or research on how to make it better. Their life expectancy is 20 years lower than the general populace FFS. Its already a big enough stain on the national conscience.

Even if you hate it, at least funnel 500 million to something else. I don't know, maybe healthcare, or education? Chaplains? WTF has Tony been smoking brah.

The only good thing about the current government is the lack of bickering and back-biting I guess.

[chojek]

The Western Australian newspaper has reported today that the Abbott Government is considering selling-off Australia’s outstanding Higher Education Contribution Scheme (HECS) debt to investment banks, so that they can be bundled-up and sold as asset-backed security (ABS) to private investors:

The university education debt of millions of Australians could be sold off under a proposal to be examined by Prime Minister Tony Abbott’s inquiry into the state of the nation’s finances.

In a move that could boost the Budget bottom line, up to $23 billion of outstanding Higher Education Contribution Scheme debt would be effectively privatised under a plan that has already won support in some financial circles…

In a process called securitisation, the responsibility for HECS debts would be bought by the private sector and then sold to investors.

It is understood that Mr Hockey was made aware of the possibility of turning Commonwealth HECS debt into a finance product while shadow treasurer. The commission is also expected to look at the sale of Australia Post.

Let’s be clear, selling-off Australia’s HECS debts would not necessarily “boost the Budget bottom line”. Because HECS debts do not have interest (except CPI increases), by definition the sale would be at a significant discount to face value ($23 billion). The difference in effect becomes the annuity stream for investors. Therefore, while the Government would receive some funds up-front, it would lose the ongoing cash flow as loans are repaid – in effect substituting a future income stream for a smaller lump-sum.

Given that the move has “won support in some financial circles” (presumably from investment banks), we can presume that any deal would likely be weighted in their favour, not taxpayers’. After all, why else would an investment bank participate unless large profits were on offer?

The deal, therefore, reeks of another example of governments selling-off the family jewels in order to pay the bills. While such moves are financially beneficial in the short-term, they can prove costly over the longer-term as future revenue streams are reduced. There aren’t even privatisation arguments to support this sale (such as the notion that the private sector will be more efficient etc).

The skeptic in me also wonders whether the move represents a gradual shift towards the privatised US student loans model, where interest rates are set more by the market (rather than CPI as applies under HECS), and there are less favourable terms of repayment.

[chojek]

Raging so ****ing hard right now. Our futures and that of our children are literally being sold off by the Liberal scum. I've never wanted to punch someone more than Abbott.


I just hope one of these days people all over the world can unite in V for Vendetta style and skin all the rats of the world.

[confusedbrah10]

Abbots Nazi regime

[canonhope]

I just want to say that Aussies are Aussome. Truly, if the USA was gone tomorrow, and I had to choose an alternate nationality, it would be with Australia. Beautiful land and people.

[canonhope]

Raging so ****ing hard right now. Our futures and that of our children are literally being sold off by the Liberal scum. I've never wanted to punch someone more than Abbott.


I just hope one of these days people all over the world can unite in V for Vendetta style and skin all the rats of the world.

Exactly this. I like your style, and anyone thinking differently is a fool.

[Chupacabro]

The Western Australian newspaper has reported today that the Abbott Government is considering selling-off Australia’s outstanding Higher Education Contribution Scheme (HECS) debt to investment banks, so that they can be bundled-up and sold as asset-backed security (ABS) to private investors:

The university education debt of millions of Australians could be sold off under a proposal to be examined by Prime Minister Tony Abbott’s inquiry into the state of the nation’s finances.

In a move that could boost the Budget bottom line, up to $23 billion of outstanding Higher Education Contribution Scheme debt would be effectively privatised under a plan that has already won support in some financial circles…

In a process called securitisation, the responsibility for HECS debts would be bought by the private sector and then sold to investors.

It is understood that Mr Hockey was made aware of the possibility of turning Commonwealth HECS debt into a finance product while shadow treasurer. The commission is also expected to look at the sale of Australia Post.

Let’s be clear, selling-off Australia’s HECS debts would not necessarily “boost the Budget bottom line”. Because HECS debts do not have interest (except CPI increases), by definition the sale would be at a significant discount to face value ($23 billion). The difference in effect becomes the annuity stream for investors. Therefore, while the Government would receive some funds up-front, it would lose the ongoing cash flow as loans are repaid – in effect substituting a future income stream for a smaller lump-sum.

Given that the move has “won support in some financial circles” (presumably from investment banks), we can presume that any deal would likely be weighted in their favour, not taxpayers’. After all, why else would an investment bank participate unless large profits were on offer?

The deal, therefore, reeks of another example of governments selling-off the family jewels in order to pay the bills. While such moves are financially beneficial in the short-term, they can prove costly over the longer-term as future revenue streams are reduced. There aren’t even privatisation arguments to support this sale (such as the notion that the private sector will be more efficient etc).

The skeptic in me also wonders whether the move represents a gradual shift towards the privatised US student loans model, where interest rates are set more by the market (rather than CPI as applies under HECS), and there are less favourable terms of repayment.

and when students start defaulting on their student loans the government will bail the investment banks out

[mrcolorblind]

Raging so ****ing hard right now. Our futures and that of our children are literally being sold off by the Liberal scum. I've never wanted to punch someone more than Abbott.


I just hope one of these days people all over the world can unite in V for Vendetta style and skin all the rats of the world.

abbott did say some uni's will become cheaper. But i have a feeling thats a lie too. So we'll just wait and see when things come to pass.

on the other hand i would be looking to study somewhere other than Australia if we're looking at 50K+ for a degree.

[mrcolorblind]

update:

These are the best case scenarios if abbott's plan goes into effect. Chances are it will be much more worse

Total Government funding for Higher Education will fall by 20 percent, according to the Department of Education. Depending on what discipline you study, that cut will have significant knock-on effects. It's worth noting that not all tertiary disciplines are going to take a hit. Law, accounting and commerce are expected to remain relatively stable for the time being. And in cases such as mathematics, humanities, and allied health, the minimum cost to students will fall under deregulated fees; in the case of mathematics, by 26.3%.

But it's in other areas such as Environmental Studies, Communications, and Visual and Performing Arts that will really cop the brunt of the cuts. Funding to the Arts, for example, will see minimum fees increase by 49.6%, meaning you'll be paying $9042 per year, which is an increase of some $3000 on the current fee model. And that's the lesser of the three worst hit. Communications will rise by 99.4%, from the current $6044 to $12,054 per year, and Environmental Studies will be slugged with an incredible 112% increase on minimum fees, rising to a whopping $18,275 per year.

http://www.pedestrian.tv/news/arts-a...5a55570c90.htm

[mrcolorblind]

http://www.smh.com.au/federal-politi...516-38fg3.html

Experts such Bruce Chapman, the architect of the HECS student loan, predict university degrees will cost up to three times as much, with some graduates attracting $120,000-plus debts.

[HeeHee23]

Lol why did you Aussie's vote this guy into power? Is Australia's debt problem actually a near-term problem like Greece, Spain etc? Or is this like the US where conservatives hype of the short-term apocalyptic implications of our debt so that they can cut programs they don't like and give taxes to businesses they do like? Good luck with your becoming a plutocratic American-esque nation goals.

[kkBRB]

and when students start defaulting on their student loans the government will bail the investment banks out

So much this. Fiat ponzi scheme economic system of peace and prosperity

Lol why did you Aussie's vote this guy into power? Is Australia's debt problem actually a near-term problem like Greece, Spain etc? Or is this like the US where conservatives hype of the short-term apocalyptic implications of our debt so that they can cut programs they don't like and give taxes to businesses they do like? Good luck with your becoming a plutocratic American-esque nation goals.

no it's not a near term problem, which is why we're doing something to fix it now. u mad your nation isn't collectively smart enough to think ahead like ours.

there actually would be pretty apocalyptic implications of the US debt bubble popping, and if you think otherwise you are pretty potato

[AMERICAN_BEAST]

The Western Australian newspaper has reported today that the Abbott Government is considering selling-off Australia’s outstanding Higher Education Contribution Scheme (HECS) debt to investment banks, so that they can be bundled-up and sold as asset-backed security (ABS) to private investors:

The university education debt of millions of Australians could be sold off under a proposal to be examined by Prime Minister Tony Abbott’s inquiry into the state of the nation’s finances.

In a move that could boost the Budget bottom line, up to $23 billion of outstanding Higher Education Contribution Scheme debt would be effectively privatised under a plan that has already won support in some financial circles…

In a process called securitisation, the responsibility for HECS debts would be bought by the private sector and then sold to investors.

It is understood that Mr Hockey was made aware of the possibility of turning Commonwealth HECS debt into a finance product while shadow treasurer. The commission is also expected to look at the sale of Australia Post.

Let’s be clear, selling-off Australia’s HECS debts would not necessarily “boost the Budget bottom line”. Because HECS debts do not have interest (except CPI increases), by definition the sale would be at a significant discount to face value ($23 billion). The difference in effect becomes the annuity stream for investors. Therefore, while the Government would receive some funds up-front, it would lose the ongoing cash flow as loans are repaid – in effect substituting a future income stream for a smaller lump-sum.

Given that the move has “won support in some financial circles” (presumably from investment banks), we can presume that any deal would likely be weighted in their favour, not taxpayers’. After all, why else would an investment bank participate unless large profits were on offer?

The deal, therefore, reeks of another example of governments selling-off the family jewels in order to pay the bills. While such moves are financially beneficial in the short-term, they can prove costly over the longer-term as future revenue streams are reduced. There aren’t even privatisation arguments to support this sale (such as the notion that the private sector will be more efficient etc).

The skeptic in me also wonders whether the move represents a gradual shift towards the privatised US student loans model, where interest rates are set more by the market (rather than CPI as applies under HECS), and there are less favourable terms of repayment.

Good! The Aussie government needs to move the risk off of its balance sheets.

It blows my mind how people are against this.

Edit: and clearly the article writer does not know how securitization works

[mrcolorblind]

Good! The Aussie government needs to move the risk off of its balance sheets.

It blows my mind how people are against this.

Edit: and clearly the article writer does not know how securitization works

you know what blows my mind? is the trillion dollar private student loan debt in the united states. If this all gets 100% privatized our debts will be as big as yours fggt. Our uni debt is manageable with the government loans.