Debt Calculator Shows How Hard Students Will Be Hit

Member for Isaacs, Mark Dreyfus has urged students, parents and grandparents to visit Labor’s new website to see exactly how much Tony Abbott’s unfair university changes will cost.

Member for Isaacs, Mark Dreyfus has urged students, parents and grandparents to visit Labor’s new website to see exactly how much Tony Abbott’s unfair university changes will cost.

Labor’s campaign to stop Tony Abbott’s $100,000 degrees continues with the launch of a new interactive feature on nodebtsentence.org

The Debt Sentence Calculator allows visitors to enter a chosen degree to find out how much Tony Abbott’s changes will cost them.

“I think people will be shocked at the difference,” Mr Dreyfus said.

“I know for students and their parents in Isaacs considering university next year or the year after this is a genuine concern.”

“Labor believes the opportunity to go to university should depend on hard work and good marks, not ability to pay.”

Based on independent modelling the calculator shows the level of debt a university course will incur and how long it will take you to pay it back. For example:

  • A female student studying to be a doctor would under the current arrangements pay $60,846 in HELP repayments over 7 years. Under Tony Abbott’s unfair university changes, her degree will cost $282,000 and take over 18 years to repay.

  • A male student studying IT would pay $28,246 in HELP repayments over 7 years under the current arrangements. Under Tony Abbott’s proposal, his degree will cost $82,000 and take over 11 years to repay.

     

The calculator means students, prospective students, and parents in Isaacs can now see – to the dollar – the shocking consequences of an Americanised university system.

While Tony Abbott continues to break election promises and lie to Australians, the Debt Sentence Calculator will show students the hard truth.

“This is taking Australia down the American path of $100,000 degrees and a debt sentence,” Mr Dreyfus said.

“Tony Abbott’s plan to deregulate fees will make attending university an unachievable dream for many young Australians.”

“Now students living in Isaacs can calculate exactly how hard they will be hit, and join Labor’s campaign against these unfair changes.”

Labor will fight Tony Abbott’s plan to saddle young Australians with a debt sentence every step of the way.