Wowzers. As an Engineering student, that would be over a 200% increase (3x) in the total cost of education fees for HECS-eligible University students, going from around $37,000 for an today's Engineering degrees to over $113,000. The most scary and insidious part is the effect of a 4% compounding interest - about 45% ($52,000) of your education cost would now be in interest (assuming that it would now take 25 years to pay this all off).
Engineering students may need 25 years to pay off debts, modelling shows
