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Only in the same way a processing fee at the DMV is. That said, an Australian HECS style debt (tied to CPI) with a minimum repayment threshold (roughly 50k AU
by JimmyAustin 9y ago
Only in the same way a processing fee at the DMV is.
That said, an Australian
HECS style debt (tied to CPI) with a minimum repayment threshold (roughly 50k AUD) makes a lot more sense.
- downrightmike 9y agoLooks like the Aussies got educational spending right, with the amount being owed to the gov is ~10% of the US. "Australian citizens (and in some cases overseas professionals completing bridging studies in order to be accredited permanent residents[2]) are able to obtain interest free loans from the government under the Higher Education Loan Programme (HELP) which replaced the Higher Education Contribution Scheme (HECS). As of April 2016, the amount of money owed to the Australian government under the HECS scheme was AUD$60 billion and is expected to increase to $180 billion by 2026."[1] "The Economist reported in June 2014 that U.S. student loan debt exceeded $1.2 trillion."[2] You also are not hopefully paying that $500 DMV fee every month for the next 10 years. [1] https://en.wikipedia.org/wiki/Tertiary_education_fees_in_Australia https://en.wikipedia.org/wiki/Tertiary_education_fees_in_Aus... [2] https://en.wikipedia.org/wiki/Student_debt https://en.wikipedia.org/wiki/Student_debt