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2017 Federal Budget impact on Australian Universities

May 18, 2017

The Federal Government has released it’s budget which has significant impacts on Australian Universities.  Below is a high level overview of this impact:

  • Universities face a cut of $384.2 million over two years as part of the “efficiency dividend” to the Commonwealth Grant Scheme of 2.5% in 2018 and another 2.5% in 2019
  • Universities can also expect funding reductions of approximate $384.2 million The Federal Budget proposes Universities too will suffer another 2.5% in 2019
  • Student fees will increase by 1.8% per year between 2018 and 2021, totalling a 7.5% increase. The increase to a student for the duration of their degree is estimated to be anywhere from $2,000 – $3,600.  On average a student will now be paying 46% instead of 42%
  • The minimum income to start repaying HELP debt will be lowered to $42,000 from $55,000 starting in 2018.  In addition, the repayment rate will increase with income; from 1% at the minimum threshold to 10% at $119,882, the maximum threshold