Student debt is expected to more than double if the Abbott Government’s unfair university changes pass the Senate, the mini-budget Treasurer Joe Hockey handed down today has confirmed.
The documents showed that HELP debt is projected to increase to $52 billion in 2017-18, up from $25.1 billion in 2013-14.
This is the clearest possible evidence that students will pay more and $100,000 degrees will become a reality if the Abbott Government gets its way.
At the same time the Abbott Government is pushing up the amount students must pay it is reducing how much it will contribute, with payments under the Commonwealth Grants Scheme expected to decrease by $78 million in 2014-15 and by $495 million over four years.
The documents released today were unambiguous in attributing the rise in HELP debt to “students paying a greater share of the cost of their education” (p.66, MYEFO 2014-15).
The Abbott Government has also hidden the cost of its misleading, taxpayer-funded higher education advertising campaign, grouping a variety of measures together in one line item.
The Abbott Government must come clean about how much taxpayer money it is wasting on a campaign to mislead students about what they will pay in a deregulated system where 20 per cent of university funding has been cut.
Labor will fight the Abbott Government’s unfair changes to higher education and do everything we can to stop students being slugged with $100,000 degrees.
Labor will fight to protect the living standards, jobs and opportunities of low and middle income Australians.
Labor believes in a strong economy that delivers for all Australians and doesn’t leave people behind.