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Americans Refer to it as a Student Loan

It's always good to see my HECS debt. I could never afford to pay for Univeristy, so I did the deferred payment method, which was HECS. I believe it might be called HELP now. Either way, I did my BA and my honours on it, though my PhD was oddly enough free if I did it in four years. Anyhow, the HECS debt that I have is addressed to Dr Peek and it keeps gaining interest every year. Perhaps one day I'll be in a position to begin paying it off, but until then, it's like an old friend, growing fatter with the passing of time.

In other news, Placebo released an album that sounded like Placebo, which is both good and bad. I liked Meds more.

(crossposted)

Comments

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exp_err
Jun. 22nd, 2009 04:59 am (UTC)
I always found it very odd that HECS was cheaper for the rich (due to the discount for up-front payment) than for the rest of us.
benpeek
Jun. 22nd, 2009 05:04 am (UTC)
well, those rich people have to be kept happy.
ataxi
Jun. 22nd, 2009 07:33 am (UTC)
Of course it's cheapest for the very poor, who are never able to repay the debt.

I've never found it odd - given the cost to the government of providing subsidised credit to students it makes sense that there'd be some incentive not to take it up: if not, then even the wealthy would do so. That the credit is subsidised is a good point about the Australian system compared to a lot of other developed nations.

The only alternative to that would be a carefully means-tested loan system - not a bad idea, but perhaps unworkable?

My HECS debt is still ~$29k I think. Ouch.

angriest
Jun. 22nd, 2009 06:41 am (UTC)
I was horrified when I suddenly got a job rich enough that I started actually *paying off* my HECS debt. It made me feel so *dirty*.
benpeek
Jun. 23rd, 2009 12:00 am (UTC)
lol.

well, fortunately, that's not happening any time soon for me... actually, wait, that might be bad, since the repayment level is still quite low...
cassiphone
Jun. 22nd, 2009 07:03 am (UTC)
Ah, yes, the HECS debt. *nostalgic sigh* It's about time for mine to find me again and remind me of its existence.

The American student loan system is horrible, they have to start paying it back regardless of income!
benpeek
Jun. 23rd, 2009 12:01 am (UTC)
i'd be screwed if that happened here. lol.
(Anonymous)
Jun. 30th, 2009 01:54 am (UTC)
Oooh... I haven't downloaded the new Placebo album yet. I think Sleeping With Ghosts is my favorite album.

E
benpeek
Jun. 30th, 2009 10:36 am (UTC)
i actually quite liked MEDS, but the original would have to be my fav (though i like sleeping with ghosts, too)
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