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  1. #351
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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.
    I was talking about normal, non prestigious universities. Granted, I am basing this off of Texan universities and from what my friends say over there it's a bit weird (the whole state) but can't really comment on that bit.

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    Quote Originally Posted by Sonja View Post
    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?
    They are almost non-existent. Which is why I would strongly discourage my sons strongly from choosing the most expensive university and the most expensive degree ($200,000) if the dividends were not going to be high.

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    Quote Originally Posted by Lilahh View Post
    They are almost non-existent. Which is why I would strongly discourage my sons strongly from choosing the most expensive university and the most expensive degree ($200,000) if the dividends were not going to be high.
    Just as a thing, science degrees and medical degrees are usually more expensive than most others. Do you propose we have no scientists or doctors or nurses??

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  5. #354
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    I don't watch Wake Up but I just saw this - http://www.news.com.au/finance/econo...-1226916941876

    Kudos to Vilma for telling TA he is a comedian!

  6. #355
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    Quote Originally Posted by Jennaisme View Post
    I was talking about normal, non prestigious universities. Granted, I am basing this off of Texan universities and from what my friends say over there it's a bit weird (the whole state) but can't really comment on that bit.

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    Normal, non-prestigious universities won't be able to charge $200,000 per degree because they will have to compete with the rest of the universities. The top Eight universities will charge as much as they like for their high academic mark degrees (clearly the ones in demand). But a normal university, with a low demand degree, will likely go down in cost.

  7. #356
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    Quote Originally Posted by Lilahh View Post
    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.
    But the change to repayment would not be to the year after so then it would be in effect.

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    Quote Originally Posted by Lilahh View Post
    Normal, non-prestigious universities won't be able to charge $200,000 per degree because they will have to compete with the rest of the universities. The top Eight universities will charge as much as they like for their high academic mark degrees (clearly the ones in demand). But a normal university, with a low demand degree, will likely go down in cost.
    Like I said, since we're going the way of the US, best deal with what it's going to end up as.

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    Quote Originally Posted by Lilahh View Post
    Normal, non-prestigious universities won't be able to charge $200,000 per degree because they will have to compete with the rest of the universities. The top Eight universities will charge as much as they like for their high academic mark degrees (clearly the ones in demand). But a normal university, with a low demand degree, will likely go down in cost.
    If you think any university degree in Australia will be cheaper as a result of this you are dead wrong!

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  11. #359
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    Quote Originally Posted by Jennaisme View Post
    Just as a thing, science degrees and medical degrees are usually more expensive than most others. Do you propose we have no scientists or doctors or nurses??

    Sent from my GT-I9505 using The Bub Hub mobile app
    Those with medicine degrees are paid accordingly- an average GP earns between $150,000 and $300,000 and a specialist $175-$350,000. Hence, the degrees have extremely high academic marks- people are clamouring to get into medicine degrees. I would fully expect a medicine degree from Sydney or Melbourne university to cost $200,000 with these changes. The graduate will earn that within 2 years.

    Science degrees have slightly lower academic marks- usually an 80 or so ATAR- and starting salaries are around $80,000.

    They can't get enough people into nursing- the ATARs are typically lower, and nurses are sadly, paid accordingly, because there is low demand to work in those positions.

    We won't have no doctors. Instead, we will have the best doctors who are trained by the best in the world, because the university can now afford to pay for the best professors in the world, instead of the brain drain that currently happens (the best academics get their PhDs and move to America to get paid better).

  12. #360
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    Quote Originally Posted by Mum2b87 View Post
    If you think any university degree in Australia will be cheaper as a result of this you are dead wrong!
    If the market is more competitive, then some degrees will be cheaper.

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