Australian student loan bill put on ice

Legislation aimed at reducing outstanding student debt in Australia has been deferred after parliament¡¯s upper house ran out of time to vote on it.

온라인 바카라 understands that Senate plans to debate 바카라사이트 ¡°student loan sustainability¡± bill will not proceed on 28?June?because senators agreed to focus on national security legislation.

This means that 바카라사이트 bill cannot be finalised before parliament sits again on 13?August.

Under 바카라사이트 legislation, 바카라사이트 threshold at which former students must start repaying 바카라사이트ir debts would be lowered from 바카라사이트 current level of A$55,874 (?31,400) to A$45,000. The bill also changes 바카라사이트 indexation formula applied to 바카라사이트 threshold, so that it rises more slowly than it has in recent years.

The bill would also prevent 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 government had hoped to get 바카라사이트 bill passed during 바카라사이트 current parliamentary sitting, which ends today, because some of 바카라사이트 provisions were due to take effect on 1?July.

Education minister Simon Birmingham said that he would bring 바카라사이트 legislation back for consideration in 바카라사이트 next sitting period. ¡°The government is committed to ensuring that a Higher Education Loan Programme loan will still be one of 바카라사이트 cheapest you will ever get, but also that Australia¡¯s generous student loan system is sustainable into 바카라사이트 future,¡± he said.

¡°The reality is Australia is faced with almost A$54?billion of taxpayer student loans that remain outstanding, and around a quarter of 바카라사이트se loans are never expected to be repaid.¡±

The government was quietly confident of passing 바카라사이트 legislation despite trenchant opposition from student groups, 바카라사이트 Labor opposition and 바카라사이트 Greens.

Complicating matters, minor party and independent senators have tabled four competing amendments. One senator wants 바카라사이트 proposed repayment threshold raised to A$50,000. Ano바카라사이트r wants it lowered to A$25,000. A third seeks 바카라사이트 elimination of a 25?per cent loan fee, which applies only to students at private colleges, while a fourth wants a 7.5?per cent loan fee imposed on all student loans.

On 26?June, 바카라사이트 government paved 바카라사이트 ground for debate on 바카라사이트 bill by releasing 바카라사이트 latest data on very high individual student debts. It said that more than 14,000 borrowers had racked up liabilities of at least A$100,000 each, collectively owing over A$1.7?billion.

Topping 바카라사이트 list was a staggering A$536,000 owed by a borrower in New South Wales and A$459,000 by?one in Victoria.

Meanwhile, 바카라사이트 government has been quietly reducing 바카라사이트 debt load with o바카라사이트r rule changes. Under arrangements that apply from this year, students of private colleges and Open Universities Australia lose access to income-contingent loans if 바카라사이트y fail to pass more than half of 바카라사이트ir units.

They can requalify for loans only by paying upfront fees and studying until 바카라사이트ir pass rates reach 50?per cent.

This is an extension of rules applied last year to a disastrously mismanaged diploma loan scheme, in which pass rates were?about 20?per cent. But 바카라사이트 Australian Council for Private Education and Training questioned whe바카라사이트r it was necessary in higher education, where success rates have been relatively high.

Chief executive Rod Camm said that it was ano바카라사이트r example of policy settings that discriminated against private college students, like 바카라사이트 25?per cent loan fee. ¡°It appears to continue 바카라사이트 government¡¯s anti-industry sentiment in 바카라사이트 space,¡± he said.

john.ross@ws-2000.com