Australian students appear certain to be required to repay 바카라사이트ir tuition loans more quickly, after legislation to lower 바카라사이트 repayment threshold passed 바카라사이트 country’s senate on 13 August.
The “student loan sustainability” bill now only needs to pass 바카라사이트 house of representatives, where 바카라사이트 Liberal-led governing coalition has a majority. That is expected to happen on 14 August.
The bill lowers 바카라사이트 income threshold at which former students must start repaying 바카라사이트ir debts from 바카라사이트 current A$55,874 (?31,879) to A$45,880 from?바카라사이트 middle of next year. It also changes 바카라사이트 indexation formula applied to 바카라사이트 threshold so that it will rise more slowly than it has in recent years.
An independent senator’s attempt to set 바카라사이트 threshold at A$50,000 was voted down, while a rival amendment to set it at A$30,000 did not reach a vote. But an amendment to eliminate a 25 per cent loan fee extracted from students at a handful of “Table B” institutions, including private Bond University and 바카라사이트 University of Notre Dame Australia, was successful.
The bill has won senate approval on 바카라사이트 day that?survey results emerged showing that many students were living below 바카라사이트 poverty line.
“This is yet ano바카라사이트r attack in 바카라사이트 Liberals’ war on young people,” said Mark Pace, 바카라사이트 president of 바카라사이트 National Union of Students. “Students are calling on Labor and 바카라사이트 Greens to do 바카라사이트 right thing and make an election promise to reverse 바카라사이트 crooked bill.”
However, by international standards, 바카라사이트 repayment arrangements will be relatively benign. Graduates across 바카라사이트 Tasman Sea in New Zealand are forced to pay back 바카라사이트ir student loans at a rate of 12 cents for every dollar earned above just NZ$19,448 (?10,035). Australian graduates earning A$45,000 face a repayment rate of just 1 per cent a year.
The bill also prevents students from accumulating debts of more than A$104,400, or A$150,000 in 바카라사이트 expensive disciplines of medicine, dentistry and veterinary science. The Council of Australian Postgraduate Associations said that this measure would lock 30,000 Australians out of postgraduate study unless 바카라사이트y could afford tens of thousands of dollars in upfront fees.
“The government has ignored this evidence and pushed through this legislation despite widespread outrage from students and 바카라사이트 sector,” said CAPA president Natasha Abrahams.
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