
01-27-2004, 08:11 PM
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Registered User
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Join Date: Feb 2002
Location: Launceston , Tasmania, Australia
Posts: 1,903
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Australia has a scheme where the student pays off part of the cost of higher education when they have a job later on.
some explanation below
1.1 What is HECS?
The Higher Education Contribution Scheme (HECS) is a fair and equitable way of ensuring that students contribute to the cost of their higher education. It is considered reasonable that students who directly benefit from higher education should pay part of the cost of their studies, while the Commonwealth pays the major part of the costs involved. HECS provides a loan to students that is indexed to maintain its real value but is otherwise interest free, with deferred income contingent repayment. The deferred payment arrangements mean that students are not prevented from participating in higher education if they are unable to pay the contribution up front.
HECS is administered under the Higher Education Funding Act 1988 by the Department of Education, Science and Training, the Australian Taxation Office and higher education institutions. The information outlined in this booklet is consistent with the present legislation. However, changes may be made to any provisions of the Scheme at any time with the consent of both Houses of Parliament
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