'Failed' university scheme hurting home ownership prospects
The Australian government's 'Job-ready Graduates' scheme is under fire as university students face massive debts for arts and humanities degrees. Education Minister Jason Clare has acknowledged the program's failure, though no immediate timeline for reform has been set.
Why it matters
The rising cost of higher education is increasingly cited as a barrier to home ownership for young Australians, creating a significant socio-economic policy issue.
Chith Weliamuna says he will have around $90,000 of student debt once he graduates. ( ABC: Joel Wilson )
There is no end date in sight for students paying more than $50,000 for an arts degree and $90,000 for a double degree, despite the government saying the Job-ready Graduates scheme has failed.
Education Minister Jason Clare says he is awaiting advice from the Australian Tertiary Education Commission on the broader costs and pricing within the university sector, due in the second half of 2027.
In the meantime, it is estimated that 300,000 students next year will be paying for degrees in the most expensive tier.
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