
America Can Fix Its Student Loan Crisis. Just Ask Australia - prostoalex
http://www.nytimes.com/2016/07/10/upshot/america-can-fix-its-student-loan-crisis-just-ask-australia.html
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boulos
Not mentioned here is that Australia misses out on these repayments when its
graduates go abroad and don't return (as I understand it). Source: a colleague
went to university in Australia, went to graduate school in England, and now
works in the US; he hasn't paid back a dime.

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TheSpiceIsLife
This is incorrect.

As of January 2016, Australians who live in another country for more than six
months will have to notify the Australian Tax Office to start paying back
their loans.[1]

Graduates who fail to notify the Australian Taxation Office face fines of up
to A$3,600 upon re-entering Australia.

Additionally, the number of graduates working abroad for more than one year
early on in their careers is less than 10%, and the new legislation is
estimated to save Australian taxpayers around A$150 million over the next
decade.

Additionally, the linked article from nytimes.com states repayments start at
AU$40,000 of income, this is also incorrect. As of tax year 2016-17 the
repayment threshold is AU$54,869 as per the Australian Taxation Office
website[2].

A far greater concern is non-payment by deceased estates, which is estimated
to cost Australian tax payers some half a billion dollars annually. Modelling
shows that recovering HELP from deceased estates will more than halve the
amount of debt that is not expected to be repaid.[3]

1\. [http://theconversation.com/australian-graduates-who-move-
ove...](http://theconversation.com/australian-graduates-who-move-overseas-
will-have-to-pay-back-student-loans-50455)

2\. [https://www.ato.gov.au/Rates/HELP,-TSL-and-SFSS-repayment-
th...](https://www.ato.gov.au/Rates/HELP,-TSL-and-SFSS-repayment-thresholds-
and-rates/)

3\. [https://theconversation.com/collecting-student-loans-from-
ov...](https://theconversation.com/collecting-student-loans-from-overseas-
debtors-just-a-start-41157)

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jlgaddis
America doesn't _want_ to "fix" the student loan crisis. There are too many
people in power who would lose out if it were to be "fixed".

