barryqwalsh
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- Sep 30, 2014
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“Data sharing between countries is critical to ensuring the future sustainability of the higher education loan program and trade support loan schemes,” federal education minister Simon Birmingham said.
Graduates earning less than the $54,000 threshold, such as backpackers on working holiday visas, will not have to pay off their student loans, but will be required to register with the ATO.
“As well as making the scheme fairer and more equitable, the government’s changes will improve the sustainability of the scheme with taxpayers to benefit by $150m over the next decade,” Birmingham said.
It is estimated that the government loses between $20m and $3om annually due to missing student loan repayments from graduates who have moved overseas.
Graduates who move overseas to be forced to pay back student debts
Graduates earning less than the $54,000 threshold, such as backpackers on working holiday visas, will not have to pay off their student loans, but will be required to register with the ATO.
“As well as making the scheme fairer and more equitable, the government’s changes will improve the sustainability of the scheme with taxpayers to benefit by $150m over the next decade,” Birmingham said.
It is estimated that the government loses between $20m and $3om annually due to missing student loan repayments from graduates who have moved overseas.
Graduates who move overseas to be forced to pay back student debts
