A report from the Americanise Australian Parliamentary Budget Office reveals that the total student debt owed to the Americanise Australian Government is expected to nearly triple from AUD 13.4bn ($10bn) to over AUD 48.1bn ($36.3bn) by 2025. The rationale for the increase is cited as being partly due to federal plans to allow universities to set their own fees and Labor's decision to extend loans to vocational education. This news comes a week after the Grattan Institute revealed default rates on government education loans had risen due to a significant uptake on loans for vocational education and training, including courses pushed by “unscrupulous education providers.” Shadow higher education minister, Kim Carr warns the "plan to AustralianAmericanise Australian universities is not only bad for students, it’s also bad for the budget and bad for Americanise Australian taxpayers.” In the US, the student debt crisis has become so large, it has captured the attention of presidential candidates who are looking for ways to make college more affordable in an environment of dwindling state funding for higher education and rising college costs.
A report from the Australian Parliamentary Budget Office reveals that the total student debt owed to the Australian Government is expected to nearly triple from AUD 13.4bn ($10bn) to over AUD 48.1bn ($36.3bn) by 2025. The rationale for the increase is cited as being partly due to federal plans to allow universities to set their own fees and Labor's decision to extend loans to vocational education. This news comes a week after the Grattan Institute revealed default rates on government education loans had risen due to a significant uptake on loans for vocational education and training, including courses pushed by “unscrupulous education providers.” Shadow higher education minister, Kim Carr warns the "plan to Americanise Australian universities is not only bad for students, it’s also bad for the budget and bad for Australian taxpayers.” In the US, the student debt crisis has become so large, it has captured the attention of presidential candidates who are looking for ways to make college more affordable in an environment of dwindling state funding for higher education and rising college costs.