Friends of mine who are parents and would like your children to have the opportunity to go to university, here is an extract from an article critiquing Lil Cwissy Pynes intentions for higher education, but putting it the best terms possible: What Pyne would have paid if he didnt enjoy totally free education... Pyne went to the University of Adelaide and studied law. The current cost for an international student who pays a deregulated price for a four year law degree is $31,500 annually. For domestic students at the currently deregulated non-Group of Eight Bond University, students pay $42,474 annually for three years. So let’s say Pyne would be charged the very conservative annual fee of $28,000 (we will give him the benefit of the doubt and say there is some price competition). Apply the current inflation rate (2.9%), use a 5% interest rate (a historical low for the government bond rate), zero years unemployed (Pyne was employed by senator Amanda Vanstone), pay him $48,000 starting salary, (the equivalent to what Vanstone paid), and give him 5% annual pay rises – well above the norm. The rate of repayment increases as a person’s salary increases, starting at $50,000 until the 8% cap is reached. At the age of 21, under his own plans, Pyne would have 43 years ahead of himself to pay off $202,734 of debt, $89,134 of which is just interest. --- And for those of you who own houses - you thought YOU had it tough... Im probably choir-preaching, but just in case Im not, REMEMBER THIS NEXT TIME YOURE VOTING.
Posted on: Wed, 27 Aug 2014 00:46:29 +0000
Trending Topics
Recently Viewed Topics
© 2015