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Kothos

Anyone ever looked at contracting in the IT industry? The pay rates seem to be massive!

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I looked at the recent IT uni degrees offers, they look more relevant to what people actually to but sure as hell, they'll put one in debt for a very long while.

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3 year degrees should be 24 subjects at roughly $1000 per subject, unless my numbers are out of date?  That's $24,000 but it is interest free, so you can just hold that debt for basically ever.

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1 minute ago, Kothos said:

 

3 year degrees should be 24 subjects at roughly $1000 per subject, unless my numbers are out of date?  That's $24,000 but it is interest free, so you can just hold that debt for basically ever.

Just noticed they jacked up the repayment interest rates from 2% to 4% for 2017-18.

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2 minutes ago, Jeruselem said:

Just noticed they jacked up the repayment interest rates from 2% to 4% for 2017-18.

 

What?  That should be illegal - repayments are supposed to be interest free and indexed to inflation only.  You're in Australia, right?

 

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How can repayment for something be interest free and indexed to inflation?  Makes no sense.  Or is the indexing on the price?

Edited by Rybags

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When it was indexed at CPI, the value of the loan increased practically, but kept the same value in real terms.

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Go to uni for any type of degree including IT just makes the government and uni lots of money, they don't care about you or me.

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6 hours ago, Jeruselem said:

 

They still seem to be interest free.  I know they lowered the repayment threshold but those "rates" are the rate of repayment, not the rate of interest.  So if you earn more you repay faster, but the interest is still 0%.

 

https://www.studyassist.gov.au/paying-back-my-loan/interest-and-indexation

 

The current indexation rate is 1.9%.

4 hours ago, Jeruselem said:

Go to uni for any type of degree including IT just makes the government and uni lots of money, they don't care about you or me.

 

That's true, which is why you need to play the game to your own advantage.  I.e. know what your employment prospects are before you choose a degree so you can go in eyes wide open.

Edited by Kothos
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