University degrees cost as much as a house (1 Viewer)

[CSI: CRIMES ™]

all i can say is whoa! lol

STUDENTS will be charged the same as an average home mortgage - $220,000 - to secure full-fee degrees at several universities from next year.
University of NSW vice-chancellor Fred Hilmer said yesterday the fees were fair, even though students will pay up to $237,000 for a combined bachelor of arts and medicine.
"Is it worth that much? It clearly is because some people are prepared to pay it," he told The Australian last night.
The figures are revealed in the 2007 edition of the Good Universities Guide, which confirms that UNSW, the University of Melbourne and Bond University will charge more than $200,000 for medicine degrees.
Despite John Howard's 1999 pledge that "there will be no $100,000 degrees under this Government", over 100 degrees now cost more than $100,000.
Just two years ago, only 50 universities were charging students $100,000 or more if they missed out on marks and sought a full-fee degree.
"The vast majority of places aren't on that basis," Professor Hilmer said. "A poor kid probably has a better opportunity to do medicine in Australia than anywhere else in the world."
Opposition Leader Kim Beazley said today the development was a major tragedy and has vowed to scrap full-fee degrees, despite the annual $90 million cost of doing so.
“Things like these $237,000 uni degrees are the camouflage to cover this deep undermining of the intellectual quality of this nation, and it's got to end,” Mr Beazley said.
“If this goes on, in 10 or 15 years time, the kids from the western suburbs of Sydney, unless they're geniuses, they won't be going to university.
“This is a major Australian tragedy and we are the only nation to whom this applies.”
He said the Government wanted people to pay ridiculous amounts for university degrees because the Federal Coalition had reduced investment in higher education.
Australian National University vice-chancellor Ian Chubb yesterday said he remained concerned that the rising cost of fees would deliver a chilling effect on university enrolments.
"There will come a point when you charge too much to too many people and a number of people won't participate," Professor Chubb said.
"It's a big debt to walk out of university with. Either that, or you need pretty well-off relations who will pay."
According to the Good Universities Guide, students at Bond University will pay $233,000 for a medicine degree and $219,000 for a combined bachelor of arts and medicine qualification.
The Government offers a student loans scheme called FEE-HELP to help students pay the cost of a degree but it remains capped at $100,000 for medicine degrees.
The loans scheme was boosted in the budget from $50,000 to $80,000 for other disciplines - after widespread complaints that the Government's FEE-HELP scheme did not cover the cost of degrees.
Professor Chubb said HECS students who paid much less under a deferred loans scheme to secure a publicly subsidised place were also feeling the pressure.
The majority of universities increased HECS fees by 25 per cent after the introduction of the Howard Government's 2003 university reforms.
"They say, 'I've graduated and I've got a $40,000 debt', and to them that is a big debt," he said. "I don't know at what point banks will take that into consideration when you are seeking a home loan."
Opposition education spokeswoman Jenny Macklin said the ALP was committed to abolishing full-fee degrees.
"No ordinary 18-year-old or their family can pay anything like these sums for a degree," she said.
"Under John Howard, Australians are paying more and more for a degree and more and more in mortgage repayments."
Education Minister Julie Bishop said yesterday only 3 per cent of students were paying full-fee degree rates. "Around 97 per cent of all domestic undergraduate students are in commonwealth-supported places (previously called HECS places)."
The fees debate coincides with a dramatic reduction in student union-subsidised services on campus following the introduction of voluntary student unionism.
The University of Sydney announced yesterday it would pump $30 million into student services, clubs and activities in response to bans on compulsory union fees for student services.

http://www.news.com.au/story/0,23599,20146743-2,00.html

 

[Aryanbeauty]

I pay $ 16000 a year for tuition fees and it cost me about 15000 a year just to stay alive in this cold dark university dorm!

 

[Not-That-Bright]

People willing to pay for it, let them.

 

[HotShot]

that for full fee places..

 

[dora_18]

Yes but if you have that med degree, there is a good chance that you'll be able to BUY that house a few years later

 

[Justin]

What do they do with all the money? Where does it go?

 

[dora_18]

well in the medicine side of it ...

-equipment
-medical supplies
-insurances so that if you're in training and you kill someone and the familiy sues you're covered
-pays lecturers and doctors that train you..

 

[*hopeful*]

I think its alright for medicine degrees.....

 

[withoutaface]

Where can I find a decent house in Sydney for 220K?

 

[Optophobia]

Where can I find a decent house in Sydney for 220K?

Decent house in Sydney? Don't you mean Decent part of sydney?

 

[dora_18]

I think its alright for medicine degrees.....

yeah so do i. Medicine itself isnt cheap, its not a degree where you can learn out of a textbook and a few placements and work experiences....all science degrees need specialised equipment and resources, and the more advanced the degree the more resources are needed.
and like people have mentioned...who the hell can buy a house for 200K or even 300K anyway!!

 

[IceOnFire]

decent house in sydney for 220k nowadays is practically non-existent, i don't even think it will get you a decent apartment in the Northen sydney region.
Anyways uni fees costing as much as house.. o-m-g..
i am not even in uni yet and i am already stressing over the money issues..>.<

 

[dora_18]

Why do people stress! you pay your degree through HECS, and then you pay the government back when you start earning over 36K, if you never earn that much you never have to pay for it, and when you do they take it out according to how much you earn and they do it gradually, its not like 100K will suddenly go missing from your account.
I guess even so, you need to pay for books etc...$300for 2 textbooks isnt cheap, but oh well..

 

[velox]

Yes but if you have that med degree, there is a good chance that you'll be able to BUY that house a few years later

Of course, i mean I know a person 3 years out of their med degree, earning $25/hour. People tend to be so ignorant these days. =/

Why do people stress! you pay your degree through HECS, and then you pay the government back when you start earning over 36K, if you never earn that much you never have to pay for it, and when you do they take it out according to how much you earn and they do it gradually, its not like 100K will suddenly go missing from your account.
I guess even so, you need to pay for books etc...$300for 2 textbooks isnt cheap, but oh well..

They are referring to FFP places which require upfront payments (apart from the small amount of FEE-HELP available)

Also why do they always refer to the US model of tertiary education. UC is a public uni, the fees are around 7k per year. I dont see that as excessive. It's just the ivy league schools.

 

[Skeeta]

Why do people stress! you pay your degree through HECS, and then you pay the government back when you start earning over 36K, if you never earn that much you never have to pay for it, and when you do they take it out according to how much you earn and they do it gradually, its not like 100K will suddenly go missing from your account.
I guess even so, you need to pay for books etc...$300for 2 textbooks isnt cheap, but oh well..

If i spent four years at university and then never earned over $36K i would be mighty pissed

 

[dora_18]

They are referring to FFP places which require upfront payments (apart from the small amount of FEE-HELP available)

oh i see,well theres really only one solution if you dont have the money to pay full fee...do HECS
What are the advantages anyway....you're able to get into a course with a lower UAI? not that that works for medicine anyway.

 

[dora_18]

If i spent four years at university and then never earned over $36K i would be mighty pissed

i dont think you have a problem, your median graduate salaries look promising. Actually, im not that concerned either, apparently my course is between 40-52K grad salary...and i intend on doing postgrad study anyway.

 

[Serius]

Where can I find a decent house in Sydney for 220K?

He didnt say the house had to be in Sydney, Sydney is afterall one of the top 10 most expensive cities to buy a house in. Plenty of decent properties exist if you want to live outside of the capital cities.

 

[dora_18]

Plenty of decent properties exist if you want to live outside of the capital cities.

but most people dont...

 

[Xayma]

but most people dont...

Which is irrelevant to the article. Although the title is a bit misleading since the average home mortage takes into account those who have partially paid it off (which most people will likely do).

Also waf, not everyone lives in Sydney, suprisingly the majority of people do not.