In the 2017-18 federal budget, the Australian Government proposed a range of reforms aimed at improving the higher education sector. In December 2017, the Government announced that many of these proposed changes would not proceed.<\/p>\n
The Government will instead peruse a number of other policy measures, which will make Commonwealth support better targeted, make sure taxpayers receive value for money and help students make informed choices when it comes to study.<\/p>\n
The main changes that may impact students are as follow and subject to the passage of legislation:<\/p>\n
From 1 July 2018, the Australian Government will introduce a new set of HELP repayment thresholds, which will affect all current and future HELP debtors by changing the timing and amounts of their repayments.<\/p>\n
The compulsory HELP repayment threshold will be set at $45,000 with a one per cent payment rate, while the second threshold will be $51,957 with a two per cent repayment rate. The new maximum threshold will be $131,989 with a repayment rate of 10 per cent.<\/p>\n
From 1 July 2019, the indexation of Higher Education Loan Program (HELP) repayment thresholds, currently linked to Average Weekly Earnings (AWE), will be changed to align with\u00a0the Consumer Price Index (CPI).<\/p>\n
From 1 January 2019, the Government will introduce a combined cap in the amount of tertiary assistance a student can access for tuition fees.<\/p>\n
The new HELP limit will apply for HECS-HELP, VET FEE-HELP and VET Student Loans. This limit will be $150,000 for students undertaking medicine, dentistry and veterinary science courses, and $104,440 for all other students.<\/p>\n
Article republished from fees.curtin.edu.au.<\/p>\n","protected":false},"excerpt":{"rendered":"
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