dracover said:
ok i have a few points i need to clear up
1. i'm talking about pre 2005 entrants cause from wat i understand post 2005 u have CPI index + 3% interest which makes it like 6-7% a year so i wouldnt suggest deferring
Mine's 2.4%.
2. my annual hex is more like 6.5k so i donno wat course u guys do and how the figures change
a) It's HECS-HELP, not hex,
b) most importantly, considering you base your whole argument on it, my HELP fees are $2100 per semester. $1500-1800 a semester is what you can expect for a National Priority to Band 1 Student at Macquarie in first year.
2. we assume we pay it back immediately upon graduation which is unrealistic its ova time. if someone tells me wat the formula of how much u need to pay bak based on income i can work it out for u but assure u it'll drag on ova for like 5-10 yrs by which the discount factor would kcik in even for the last year and since ur onli up by 3k after 4 yrs of uni i'd say that'll get eaten up soon
I've looked high and low for how much one gets taxed. I still can't find it. I do believe that it's around 5%.
On the point of paying it back immediately:
me said:
I'm still assuming that you will pay it off immediately, which you don't have to. Consider paying half of it off normally as tax (say takes 5 years), then consider paying the other half of it off using an investment with even the smallest interest compounded over that period + what you put into that fund during uni...
3. i aslso mentioned that ur company may pay for u meaning u would be just up $1896 anyways
?
1. opportunity cost of not having that money resulting in inability to pamper gfs leading to being single leading to any other kinds of hell. this point alone suggest derferment =D
Definitely. =P
2. if u had chosen a course that cost less then mine (as some of the above had suggested, the ammount u would be up by the end of 3 yrs would be even less. Also if ur doing part time then the period is longer therefore discount effect is much greater.
Definitely, but assuming you did your course part time, you'd have other resources which were valuable to you, eg working (money), spending time with family, watching TV, etc. Therefore the discount is essentially the same at any given point in time, because the discount only relates to how much you pay back, which in turn relates to how many units you take. You can't get a discount on 5 units when you're only doing 2 units part time. If you were doing 2 units part time, you could also be earning money. So really, I don't see what this has to do with anything.
3. anyone been to sam recently. a bottle of coke has risen in price from $2.50 to $3 giving u a 20% inflation figure 0.o it hurts it may seem small but just the change in SAM prices this year will hurt our calculations a lot
I really hope you're joking.
Anyway, noone's yet addressed my point that the rate of taxation is so low, and, despite one odd example to which noone else's seemed to back up, financial institutions do not see it as a problem. Obviously they don't see it as a problem because such a low taxation is not a large burdon on many people.
Edit: found it. Lol, it's 38k threshold now. I'm sure most people could handle making voluntary payments (which actually reduce your compulsary payment %) before they earn over 38.