HECS and TAFE
Structurally, this has been coming for a while and I can see some value in this if it is done correctly. There are dangers however, most notably in setting a price hurdle that will stop many from undertaking the very skills path they need because the risk/reward equation of deferred loans in this sector will be based on a lower average income stream over time than those in degree and higher ed pathways…
Farah Tomazin in The Age writes:
TAFE students could soon pay for their courses through a HECS-style loan scheme under radical plans by the Brumby Government to tackle the skills crisis.
As part of a massive shake-up of vocational education and training, the State Government is considering whether to introduce an income-contingent loan scheme similar to the HECS system offered at universities.
