The fees being charged by universities are out of this world. Fees for a full-time domestic student undertaking a bachelor’s degree are $5,000 Australian a semester. A six-semester (three-year) degree will set students back around $30,000.

If students have to defer payment until they begin work, the debt appreciates at the rate of the cost price index (CPI) each year.

At the end of 2023, a $30,000 accumulated debt increased by a CPI factor of 7.1%; $30,000 grew to a debt of $32,130 and that compounds with each CPI increase.

Degrees these days in Australia cost huge dollars. The above is for domestic students; for International students (often regarded as ‘cash cows’), costs are far, far higher.