Living overseas used to be considered a ‘free pass’ on compulsory repayments, but that ended when the overseas debt recovery bill was introduced in 2017.
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00:00 [MUSIC PLAYING]
00:03 So I actually looked at the amount
00:27 that had gone up just recently.
00:29 And yeah, it was a lot more than it
00:31 had been in previous years.
00:32 It was like 7.1% or something.
00:35 That's a lot.
00:36 7% on 40,000 is like, what, 2,800 or something.
00:40 That's a lot to go in one year.
00:43 I think as long as my wages were going up at the same amount,
00:47 it wouldn't be a huge deal for me either.
00:49 But at the same time, I feel like from what I'm hearing
00:54 and observing, wages are a little bit behind in terms
00:58 of where inflation is at.
01:01 And the Australian government collects more money from HECS
01:10 than it does from the petroleum resource rent tax.
01:15 Thank you, children.
01:17 You're the backbone of our economy.
01:22 So for me, education is quite possibly
01:25 one of the most important things that a society can focus on.
01:29 It's about having a good understanding of the world
01:32 and, I guess, just contributing to a society that
01:34 tries to understand things better and better
01:37 rather than just remaining ignorant.
01:39 And so for that reason, I tend to think
01:41 that more should be done to make it more accessible to people,
01:45 which would basically mean, I guess,
01:48 not having $40,000, $50,000 debts hanging
01:52 over people's heads.
01:53 We've worked in the past.
01:54 People were able to get free education in the past,
01:56 and I feel like surely we can do that again.
01:59 (gentle music)
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