Labor gives $3 billion towards junk degrees:

[Bobby]

Labor is copying Biden's ideas to buy votes from young people
by helping them out with their HECS debt. ( using borrowed money)


May 4, 2024

Sky News host Rita Panahi says Australia has got “too many kids at universities” doing “junk degrees”.

Ms Panahi says they are being sold “false hope”.

“They’re leaving university with a big debt,” she said.

“It doesn’t actually help them achieve anything in terms of meaningful employment.

“Their job they end up doing bares no relation to the degree.”

[Bobby]

https://www.abc.net.au/news/2024-05-05/ ... /103800692

HECS indexation to be overhauled in budget with $3 billion in student debt 'wiped out'
By national education and parenting reporter Conor Duffy


Posted 9h ago



In short: Student debts will be lowered for more than three million Australians under reforms designed to stop HECS loans growing faster than wages.
Loan indexation will now match whichever is lower out of the Consumer Price Index or the Wage Price Index — which the government says will prevent another shock increase like last year's 7.1 per cent increase.
What's next? The changes will be introduced in the 2024 budget and, pending getting through parliament, will take effect from June.

Millions of Australians with student loans will have hundreds of dollars wiped from their HECS debts as the federal government rolls out its plans for cost-of-living relief in the upcoming budget.

Every June HECS debts are indexed and bumped up a few percentage points to make sure the amount owed keeps up with inflation.

For almost 35 years indexation has been calculated based on the Consumer Price Index (CPI), which is now at historic highs.

Last year's 7.1 per cent increase was the largest hike since 1990 leaving some in a debt spiral with loans increasing faster than they could be repaid.

Annual HECS indexation will now be calculated on whichever figure is lower out of CPI and the Wage Price Index (WPI).

The policy will be backdated to June 1 2023, which means last year's 7.1 per cent indexation will be lowered to the WPI of 3.2 per cent.

"This will wipe out around $3 billion in student debt from more than three million Australians," Education Minister Jason Clare said.

[Black Orchid]

I agree with Rita and following Biden is a huge mistake. I pray he doesn't get a second term. He's screwing the US. Anyone who supports that vegetable should not be allowed to vote.

[Bobby]

I agree with Rita and following Biden is a huge mistake. I pray he doesn't get a second term. He's screwing the US. Anyone who supports that vegetable should not be allowed to vote.

Labor is copying any idea that might buy them some more votes
even if it means we go into more debt.

[Frances]

Labor is copying any idea that might buy them some more votes
even if it means we go into more debt.

Isn't that the normal political strategy for any party?

[Bobby]

Labor is copying any idea that might buy them some more votes
even if it means we go into more debt.

Isn't that the normal political strategy for any party?

It seems to be - yes -

we do have a one party State with 2 branches - Labor and Liberal.