Australia’s universities ‘inching towards $100,000 degrees’
Australian universities are warning that degree costs could reach $100,000 due to the ongoing Job-ready Graduates scheme, which has shifted financial burden onto students and reduced public funding by $4 billion since 2021. Universities Australia CEO Luke Sheehy criticized the policy as a barrier to opportunity and called for political courage and increased government investment. A proposed bill to reverse fee increases faces opposition from sector leaders who argue it underfunds universities without boosting public spending. Despite Labor's past criticism, the scheme remains in place under the current government.
- ▪The Job-ready Graduates scheme has pulled approximately $4 billion out of the university sector since 2021, increasing student fees and debt.
- ▪Under the current model, arts, law, and business degrees cost up to $50,000, with warnings they may double without reform.
- ▪A private member’s bill seeks to reduce student contributions but does not increase government funding, drawing criticism from university leaders.
- ▪Sector experts argue the scheme has failed to steer students toward priority fields and has weakened the link between fees and graduate earnings.
- ▪Despite strong opposition in opposition, the Labor government has not yet repealed the Job-ready Graduates scheme.
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