Labor’s new online student debt sentence calculator will reveal the true cost of Tony Abbott’s plans to deregulate university fees.
Based on new independent modelling the debt sentence calculator allows students and their parents to calculate the cost of their degree and how long it will take to repay their HELP debt.
Disturbingly, the modelling reveals that some students in this country will never repay their HELP debt if Tony Abbott’s changes get through the Parliament.
Labor calls on the Prime Minister, in light of this shocking new evidence, to abandon his plans for $100,000 degrees and a debt sentence for Australian students.
Students are able to choose from a number of university courses, and calculate the cost currently compared to the cost under Tony Abbott’s unfair higher education changes.
A male student studying to be a pharmacist under the current arrangements will pay almost $41,000 in HELP repayments over 7 years.
Under Tony Abbott’s unfair university changes, his degree will cost $105,000 and take nearly 13 years to repay.
A female student studying to be a doctor will currently pay almost $61,000 in HELP repayments over 7 years.
Under Tony Abbott’s unfair university changes, her degree will cost $282,000 and take over 18 years to repay.
A female student studying to be a social worker will pay $28,755 in HELP repayments over 9 years under current arrangements.
Under Tony Abbott’s unfair university changes, her degree will cost $310,400 but she will never repay her HELP debt.
For students currently studying for exams and considering their future, the prospect of a debt sentence will be deeply concerning.
The real cost of the Americanisation of our higher education system will be the students that never make it to university and never fulfil their full potential.
The opportunity to go to university in this country should depend on hard work and good marks, not the ability to pay.
Labor will fight Tony Abbott’s unfair changes to universities, and we will prevail.
Visit the website to calculate your debt sentence under Tony Abbott’s unfair higher education changes at nodebtsentence.org
THURSDAY, 30 OCTOBER 2014