HECS architect calls for loan scheme to cover vocational training
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The architect of Australia’s student loan system strongly supports its extension to the vocational education sector, saying it will improve access for poorer students who can’t afford to pay up-front fees.
Australian National University economics professor Bruce Chapman, who helped designed the Higher Education Contribution Scheme (HECS) in 1989, said it should be extended to vocational training certificate three and four courses, as recommended by the Australian Productivity Commission this year. Certificate three and four qualifications include hairdressing, massage therapy, aged care and hospitality.
Australia’s Small Business Ombudswoman Calls for HECS-Like Loan
Australia’s small business ombudswoman Kate Carnell is urging the federal government to introduce a revenue-contingent loan scheme for small businesses to provide them with much-needed cash flow during the “perfect storm” induced by the CCP (Chinese Communist Party) virus, commonly known as novel coronavirus.
The renewed call comes amid growing concerns over the imminent end of the JobKeeper subsidy and other support measures to small businesses, many of which are still struggling to recover from the economic fallout of the COVID-19 crisis.
The proposed program mirrors the Higher Education Contribution Scheme (known as HECS) launched 30 years ago as the world’s first income-contingent loan, which allowed students to enrol in university without paying up-front tuition, and instead repaying their fees once their earnings reached a certain level.