CSP HECS vs Full Fee Local...Which is more $$$? (1 Viewer)

[barnsey88]

Could someone please tell me whether a CSP HECs course is more expensive than a Local Full Fee paying place for a Commerce/Business degree.

I have been told that Full Fee places are cheaper because you do not have to pay interest but other people have contradicted that.

Thanks.

 

[sikeveo]

obviously 'full' fee is more expensive.

 

[klh]

no you dnt pay interest, butb due to every year infaltion, its just readjusted to hold the same value as when the loan was set. Full Fee costs more as with HECS, they are a CSP or commonwealth supported place which means the COMMONWEALTH supports these places i.e. subsidises them.

hope it helps

 

[barnsey88]

Oh ok i see. That helps. Could you give me an indication on as to how much more it would be? Like in percentage terms?

 

[Mambomeg]

It depends on the course. Science based courses are generally more expensive than arts / business type courses. The most expensive ones are up to $30,000 a year (Vet) but others are as low as $11,000 a year. The Highest HECS band is just over $8000 per year.

There is no way that interest on HECS can even come close to the difference in cost between full fee and HECS, so if you can get a HECS (or Commonwealth supported, whatever) place, take it!.

 

[Bunny04]

yeah.. my four year Degree is going to cost all up 14k - i think... maximum 16 - and thats for a 4 year degree.. .,bachelor...
If you get a place with 'Full LOCAL fee'- you'll be paying anywhere up to 16k a YEAR... so, a 4 year degree...
Crikey- i wouldn't even want to think about it..
and with HECS.. .there is absolutley / NO/ intrest- even if its introduced later down the track, those under the 'Old Scheme' wont be affected.

The HECS and Local Fee have Different UAI for the same course- exact same course... so if you miss the cut off for the HECS you have to pay Local if you still want to do it.

 

[aim54x]

well that is a relief, looks like i won't be in as serious debt as i thought.

but they r right when they say CSP is not charged interest, but put in line with inflation

i can tell u that international full fee is the most expensive though

 

[sikeveo]

Bunny, no Bond is 50k a yr. Med @ newcastle is 30k a yr.

 

[Bunny04]

50k a year? Where was that said?

 

[sikeveo]

But Bond is private. Melb uni for med dfee is like 40k.

National priorities such as nursing and teaching are the cheapest.

 

[Smokey_22]

Is it easy transferring to CSP from Fees?

 

[Bunny04]

usually its quite easy to transfer- if you made a mistake (like you put the Local Fee Code instead of the HECS code, without meaning to) and you are beneath the UAI limit it is easy to transfer.

 

[richz]

but dont u have to pay back the CSP later when u find a job, so doesnt it equate to the same amount?

 

[heidi_kak]

you only have to pay later if you defer payment. and you only have to pay the hecs fee, never full fee. if you pay upfront you get 20% discount.

 

[daz54]

are u saying the gov pays the balance 4 u. And u don't have 2 pay them back at all?, all you pay is the student contributions?

 

[sikeveo]

no u still have to pay . The govt only pays a little bit.

 

[Survivor39]

Oh ok i see. That helps. Could you give me an indication on as to how much more it would be? Like in percentage terms?

Full fee is generally 3 times more expensive.

 

[ManlyChief]

are u saying the gov pays the balance 4 u. And u don't have 2 pay them back at all?, all you pay is the student contributions?

I am enrolled in an Arts/Law combined degree programme at the University of Sydney.

The Commonwealth Government gives the University $Z per year to cover the cost of my education.

I am in a HECS (i.e. Commonwealth-Supported) place at the Universtiy.

My "student contribution" is $Y. $Y is about $Z/3.

Each year I choose to EITHER:
(a) "defer" paying my student contribution OR
(b) paying my student contribution up-front.

If I do (b) I pay the Tax Office (through the University) $Y less a 20% discount for up-front payment.

If I do (a), the amount $Y becomes a debt I owe to the Tax Office, which I then pay off once my annual income hits a certain level.

The difference between $Z and $Y is picked up by the Commonwealth Government.

A person in a full-fee place would have to pay $Z up-front. They could choose to apply for a FeeHELP loan of $50,000 from the government, in which case that debt would be owed to the Tax Office.

A Commonwealth-supported place is much, much cheaper than a full-fee place.

 

[sikeveo]

Fee-Help is stupid. It will cover 2 years of full fee tuition at the most.

 

[ManlyChief]

Fee-Help is stupid. It will cover 2 years of full fee tuition at the most.

Agree. I imagine for some degrees it would barely cover a year. How much is vet science full fee? 48,000 or something outrageous like that?