The affordability of study: public funding, course fees and student debts in the US and Australia
Date: Wednesday 8 May
Time: 10:00am- 11:30am
Venue: LH Martin Institute, Level 1, 715 Swanston Street (and streamed live via the web)
RSVP: Online, via the LH Martin Institute website
The rising costs of mass tertiary education have led governments in many countries to look at new ways to finance and regulate their college and university systems. The Australian solution has been to fund part of the cost of undergraduate study and make students pay the rest. Publicly funded HELP loans are available to cover domestic student fees, while income-contingent repayments aim to keep these affordable. In the United States, systems have evolved differently with more private universities and less price regulation. Student debt is effectively the same as consumer debt, and it has tripled over the past eight years to US$966 billion as of the fourth quarter of 2012. In this seminar, economist Carlo Salerno will discuss the US higher education system and the effect student debt has on society and the economy. LH Martin Institute's Geoff Sharrock will provide an Australian view on balancing the costs of university.