University Fees In Australia To Increase By As Much As RM11,500 In The Next Four Years

The Australian federal government is cutting down on university funding.

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Students studying in Australian universities are set to face higher fees from January next year as part of a major overhaul of the country's higher education sector

Australian Education Minister Simon Birmingham.

Image via AFR

Education Minister Simon Birmingham unveiled the changes on 1 May in Canberra.

According to ABC, fees will increase by 1.8 percent next year and continue rising to a total of 7.5 percent by 2021.

This means the increase for a four-year degree in Australia will range from AUD2,000 (RM6,431) to AUD3,600 (RM11,500)

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As for students under the Higher Education Loan Program (HELP), the maximum they will pay for a four-year degree is AUD50,000 (RM160,352).

The most expensive course - a six-year medical degree that brings substantial private benefits - will result in maximum student fees of AUD75,000 (RM240,560), as reported by The Australian.

The Turnbull government will also lower the repayment threshold for student loans from AUD55,000 (RM176,300) to AUD42,000 (RM134,626)

Australian Prime Minister Malcolm Turnbull.

Image via The Northern Daily Leader

Currently, students have to start paying back their HELP loans when their annual income after graduating reaches just under AUD55,000 (RM176,300). The percentage they pay back then rises as their income rises.

The government will lower the repayment threshold to AUD42,000 (RM134,626) from July 2018, with a 1% repayment rate.

The announcement comes ahead of next week's budget tabulation, where Scott Morrison, the Treasurer of Australia, will present the budget for year 2017-2018 to the Parliament

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