HECS Reform
People First policy
It is taking too long for graduates to repay their debt and Universities are not being held to account for the cost of the unpaid debts.
People First will advocate a number of reforms to the HECS system. These are:
- Apply a 20% discount to all upfront or extra repayments of debt.
- Remove the cost of HECS for teachers and nurses earning less than $150,000, pro-rated over 10 years of service in the industry.
- Universities to repay unpaid HECS debt upon death of graduate.
- Contributions to be applied in real time for the purpose of calculating indexation on HECS loans.
- HECS will be limited to one degree and to Australian Citizens (and some South Pacfic Islanders)
- HECS will be fully funded for STEM and Medical related degrees. For most other degrees, HECS support will be capped at $10,000.