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  1. #341
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    Quote Originally Posted by Mum2b87 View Post
    Actually the threshold for 2014/15 is $53,345 so it's actually a pretty large backwards step - I will be tipped over that threshold now
    No. The 2014/2015 financial year has not come into effect yet. So the current threshold rate is $51,309, which is a mere $671 p/a difference. If you are currently earning less than $53,345 but more than $51,309, you are already paying your HECS debt back. The only way you could be tipped into it now is if you are right now, this financial year, earning more than $50,638 and less than $51,309. Either way, the planned cut off for next financial year is only a difference of $50~ p/week. I don't think anyone would be applying for jobs at the end of this financial year with the plan of earning $51,308 just so they can avoid paying any HECS.

  2. #342
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    Quote Originally Posted by Jennaisme View Post
    Okay, so just leading on from my previous post.

    I did the budgetting and at its very simplest, I based it on a four year bachelor. Being as we're going the way of the US, I based it on how much they are per year which is about 50k at the lower end. So 200000 for a bachelor. So to start DD off with a good life where she wont be financially screwed and has the option of uni, in 20 years to send her we will need to save almost $500 per fortnight to pay for it. We have ONE kid. Just one.

    Sent from my GT-I9505 using The Bub Hub mobile app

    Why can't your daughter just use HECS/HELP? The money doesn't need to be paid upfront, even if the degree is $200,000.

  3. #343
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    Quote Originally Posted by Lilahh View Post
    Why can't your daughter just use HECS/HELP? The money doesn't need to be paid upfront, even if the degree is $200,000.
    Bc earning 50-60k, our children are going to be under financial stress paying back the HECS until they die. Not including a mortgage and just trying to live.

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  5. #344
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    Quote Originally Posted by Lilahh View Post
    Why can't your daughter just use HECS/HELP? The money doesn't need to be paid upfront, even if the degree is $200,000.
    I'd rather she not be strapped with a 200,000 dollar debt due to the idiocy of the current Australian population and I'd rather her not choose not to go to uni based on how much it is. < I can't word this bit right so I hope it makes sense. Wouldn't you? She might not go and that's fine but we all want the best for our kids and I can't see how setting them up for a lifetime of debt is a good thing, even if it doesn't need to be paid back straight away.

    Eta: Delerium explained it better. Refer to rhat post!
    Sent from my GT-I9505 using The Bub Hub mobile app

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  7. #345
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    I just picked up my uncle from the airport. He is ok with the budget but was unhappy they didn't drop the minimum wage.

    ???

    I tried to point out that his own daughters in uni would be effected and health etc but he was unperturbed. He said he invested enough money years ago to fund their uni now and they could therefore fund their own health after they graduate.

    ???

    He was genuinely pleased. I'm completely baffled.



    wifey of hubby who is always away. mother of two girls who are always amusing.

  8. #346
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    Quote Originally Posted by delirium View Post
    Bc earning 50-60k, our children are going to be under financial stress paying back the HECS until they die. Not including a mortgage and just trying to live.
    But they'll inherit our unused superfunds when we now kick the bucket at 75 rather than 85 after working those extra 5 years has taken 10 years off our lives and they'll be debt free!

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  10. #347
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    Quote Originally Posted by ourbradybunch View Post
    The only way I will be getting an 80k job is by turning tricks. Which is looking like a viable job option. Pretty sure im not even joking anymore

    Sent from my SM-G900I using The Bub Hub mobile app
    I hope things work out for you

    I wonder how many women will turn to tricks as a result of the budget changes?

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  12. #348
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    Quote Originally Posted by Jennaisme View Post
    I'd rather she not be strapped with a 200,000 dollar debt due to the idiocy of the current Australian population and I'd rather her not choose not to go to uni based on how much it is. < I can't word this bit right so I hope it makes sense. Wouldn't you? She might not go and that's fine but we all want the best for our kids and I can't see how setting them up for a lifetime of debt is a good thing, even if it doesn't need to be paid back straight away.

    Eta: Delerium explained it better. Refer to rhat post!
    Sent from my GT-I9505 using The Bub Hub mobile app
    If my sons wanted to go the most prestigious university to get a highly prestigious degree which would cost them six figures, instead of an average university to get a regular degree, which will be charging less than university courses are now, then I would make sure they had really thought through the cost benefit of obtaining such a degree, and whether their future earning potential was worth it. A $200,000 university debt is worth it if you are making $150,000+ your first year out.

    In my position now, my HECS debt would almost certainly be less if the universities were able to be more competitive.

  13. #349
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    Quote Originally Posted by delirium View Post
    People will have less money, so they will spend less, which will hurt business, which will hurt employment.

    This whole govt are a bunch of buffoons. They don't seem to understand the basics of economics. Paying off debt by having homeless, starving uneducated people just isn't going to work and defies all of the complex economic mechanisms at work.

    I truly fear for this country. And I don't say that flippantly. I mean I *really* fear for our futures.
    Well said! Couldn't agree more^^

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    Quote Originally Posted by Lilahh View Post
    If my sons wanted to go the most prestigious university to get a highly prestigious degree which would cost them six figures, instead of an average university to get a regular degree, which will be charging less than university courses are now, then I would make sure they had really thought through the cost benefit of obtaining such a degree, and whether their future earning potential was worth it. A $200,000 university debt is worth it if you are making $150,000+ your first year out.

    In my position now, my HECS debt would almost certainly be less if the universities were able to be more competitive.
    Seriously who earns $150k in their first year out of uni? My DH and I are both lawyers and the starting salary is around $30k from memory.

    Where are these magical jobs you speak of?

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