Re:Chile is introducing free higher education
by shasheene on Saturday May 09, 2015 @10:18AM
(#9516433)
There's no longer a discount for paying fees up front: http://studyassist.gov.au/sites/studyassist/news/pages/chang...
For the interest of those unfamiliar with the scheme, HECS-HELP is structured as an income-contingent loan, albeit one with an inflation-linked indexation rather than a real rate of interest.
However, the general philosophy is the Higher Education Contribution Scheme. This is a fee that is largely flat, only paid on graduation, as an increased income tax requirement (a few percent more), if and only if your salary is above a threshold. Drop below that and you're no longer paying on your HECS debt. However, you can also voluntarily opt to pre-pay your debt for varying discounts. When I went to school (mid 90s), this fee was $1800/year. Any course at any university, from liberal arts at a country college to medicine or law at the most prestigious of institutions.