HELP debt is now a $80 billion problem for Australia, and it’s only getting bigger. Today we dive into how HECS/HELP debt really works, why it’s impacting borrowing capacity, and whether the system needs a major rethink. From free money myths to the true cost of uni, we unpack the long-term financial consequences and what needs to change.
HELP debt is now a $80 billion problem for Australia, and it’s only getting bigger. Today we dive into how HECS/HELP debt really works, why it’s impacting borrowing capacity, and whether the system needs a major rethink. From free money myths to the true cost of uni, we unpack the long-term financial consequences and what needs to change.
On this episode, we discuss:
(00:00) Intro
(00:38) What is Australia's $80 billion problem?
(04:05) 7.5% of your income gone to HELP repayments
(05:15) The impact of HELP debt on borrowing capacity
(07:00) Government wipes 20% of HELP debt-fair or not?
(08:10) Is the real issue the cost of education?
(09:00) Are uni campuses over-engineered and overpriced?
(10:40) Should education be delivered inside businesses?
(13:45) A look into homeschooling and self-directed learning
(15:45) The lack of financial education at school
(16:45) Would we make different uni decisions with better money knowledge?
(18:00) What if higher education was actually affordable?
(22:05) How the 20% HELP debt wipe will actually work
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Send us an email: hello@thenumbersgamepodcast.com.au
The Numbers Game is brought to you by Future Advisory & Inovayt.
Hosts:
Nick Reilly
Jason Robinson
Martin Vidakovic
This podcast is produced by VIDPOD.