University Students will have to pay up to $3600 more for a four-year university degree and start paying back their loans as soon as their income reaches $42,000. The most expensive degree, medicine over six years, would cost $71,900, up from $68,000. Universities will be subject to a $2.8 billion efficiency dividend.
The government will pump an extra $19 billion into schools over the next decade under a plan labelled 'Gonski 2.0'. More than 99 per cent of schools will see a year-on-year increase in funding, and on average per-student funding will grow 4.1 per cent a year over a decade. Federal funding will grow from $17.5 billion in 2017 to $22.1 billion by 2021, and $30.6 billion by 2027. The per student base amount in 2018 will be $10,953 for primary students and $13,764 for secondary school students. About two dozen schools will lose some of their federal funding.
SBS Korean program has a special interview with Hee-Seung Yang, Assistant Professor at Monash University to get advice about the education budget.
