The upfront discount for HELP loans, formerly known as HECS, has ceased, while the cost of a degree is rising. Were students even aware of the discount to begin with?
University of Queensland student Daniel Chancellor, who started his degree in 2020 and will graduate in 2025, said he wasn’t even aware of the discount.“I wouldn’t have been able to afford when I started university but now that I’m working and studying, it’s definitely something I could achieve, which makes it more infuriating.“It’s definitely not enough, but I’d take up the option of the 10 per cent instead of nothing at all.
In 2021, about 77,000 students accessed the discount while about 72,000 used it in 2016, the last year the discount was in place before 2021. “The savings from removing this discount have helped fund an extra 20,000 new university places which are directly helping students from poorer families, students from regional and remote communities, First Nations students, and students with a disability.
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