See below chart. Another R-G-R policy success. A policy that would have been reintroduced if Labor won government.
Presumably the universities (in response to incentives) increased the supply of courses which a relatively inexpensive to produce – humanities, law, business – the courses that don’t require too much infrastructure like engineering, medicine and sciences. Clearly Australia needs more lawyers, social scientists and students of marxist lesbian dance theory.
But there is also the cost. The difference in drop out rates between regular students and demand driven students is 9%. Across 770,00 students, that is 69,000 kids every year. Kid who will have racked up large HELP liabilities which they may be paying off for a long, long time.
[Addendum. Ok. TAFKAS made mistake with the above calcs. It’s on 9% of the kids on the demand driven enrollments which would be well less than 69,000. But it would certainly be more than 100 and how many is too many?]
If a bank or financial services organisation loaded up 10% of its customers with debt that they could not ever be able to pay off, there would be a Royal Commission. Oh hang on.
Yes oh yes. Throwing money at education is clearly paying off. Paying off for education bureaucrats and university administrators at the expense of the rest of us.
Yes oh yes. Think of the children.