Adjustments to scholar funding have been postponed
In 2018, the federal government launched a serious scholar funding evaluation performed by an impartial exterior chairman, Dr. Philip Augar, and a panel. The outcomes of the panel have been revealed in a report in Could 2019.
Previous to the evaluation, the federal government was requested to cease utilizing the RPI to calculate rates of interest in favor of the patron worth index (CPI) – the CPI is normally decrease than the RPI.
Whereas the report recognized “widespread considerations” in regards to the high quality of the RPI motion, it made no particular advice for substitute, saying it was “a matter for the Treasury Division”. Nonetheless, there have been a variety of different suggestions for gathering curiosity, together with limiting it to the RPI for present college students (as a substitute of the present RPI + 3%).
In its interim monetary statements for the evaluation launched in January 2021, the federal government made no point out of scholar mortgage rates of interest and left a full shut at a later date – it’s unclear when that may happen as the great spending evaluation it’s linked to has not but been accomplished deliberate. On the time, the federal government blamed the dearth of response to the necessity to concentrate on the pandemic.
We’ve contacted the Ministry of Schooling and can replace this story if we get a response.