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Education Legislation Amendment (2020 Measures No. 1) Bill 2020

On 11 June 2020 the Minister for Education, Dan Tehan, introduced the Education Legislation Amendment (2020 Measures No. 1) Bill 2020 (the Bill) to the House of Representatives.  The main purpose of the Bill is to give effect to a six‑month exemption from FEE‑HELP loan fees announced on 12 April 2020 as part of the Higher Education Relief Package (the relief package) in response to the COVID-19 pandemic. The other elements of the relief package do not require legislation. A loan fee exemption for VET Student Loans (VSL) was also included, but has already been given effect by the VET Student Loans Amendment Rules (No. 1) 2020, made under the VET Student Loans Act 2016 (VSL Act)... Read more...

Updated Higher Education Loan Program (HELP) debt statistics—2018–19

The Australian Taxation Office (ATO) has released new data on the Higher Education Loan Program (HELP, formerly HECS) debts. This FlagPost summarises the ATO HELP data. Previous versions were published for the 2017–18 financial year release, and the 2016–17 financial year release.   All figures are at 30 June for the relevant financial year. Figures have not been adjusted for inflation.  Total amount of outstanding HELP debt This release updates the total amount of outstanding HELP debt to nearly $67.0 billion in 2018–19, up from $62.0 billion in 2017–18. Figure 1: Total amount of outstanding HELP debt 2009–10 to 2018–19 financial years ($... Read more...

Updated Higher Education Loan Program (HELP) debt statistics—2017–18

The Department of Education and Training (DET) has released Higher Education Loan Program (HELP, formerly HECS) data, updating last year’s release from the Australian Taxation Office (ATO). The DET HELP data is based on the ATO's annual HELP data report for 2017–18 (available from Data.gov.au), and previous ATO annual HELP data reports. Further historical data is available in the ATO release. All figures are at 30 June for the relevant financial year. Figures have not been adjusted for inflation.  Total amount of outstanding HELP debt This release updates the total amount of outstanding HELP debt to $62.0 billion, up from $54.0 billion in 2016–17. Figure 1: Tot... Read more...

Will the new Future Drought Fund leave the Education Investment Fund high and dry?

On 26 October, the Coalition Government announced it would create a new Future Drought Fund, with initial investment to come from transferring the $3.9 billion uncommitted balance of the Building Australia Fund, one of the Nation-building Funds originally created by the Gillard Labor Government. The announcement has raised the question of the status of the other remaining Nation-building Fund, the Education Investment Fund (EIF).  This FlagPost provides an overview of the EIF to assist in understanding its current status. It updates some of the information provided in the Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017 [and] related Bills Bills Digest. ... Read more...

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