
One in four humanities students in Australia to take more than 25 years to pay off student loans, treasury finds
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New Treasury modelling reveals that one in four humanities students in Australia will take over 25 years to repay their student loans. The job ready graduates program, implemented in 2021, has resulted in nearly two-thirds of humanities and creative arts students accumulating debts exceeding $50,000. These changes have raised concerns about the financial burden placed on graduates in these fields.
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The job ready graduates program was introduced by the Morrison government as part of a broader reform of higher education funding. The aim was to align university courses with job market demands, but the unintended consequence has been a significant increase in student debt for those in less lucrative fields like humanities.
This article reflects the findings of Treasury modelling and does not represent the views of all stakeholders in the education sector.
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