I haven't used it tho. Angus can probly help _________________ <Patrician|Away> what does your robot do, sam
<bovril> it collects data about the surrounding environment, then discards it and drives into walls
Fri Nov 30, 2012 8:48 am
Glen Experienced Roboteer
Joined: 16 Jun 2004
Posts: 9481
Location: Where you least expect
Had it when i attempted and failed uni lol, Still have 12k of debt sitting there whenever i start making over 50k a year (HAAA funny, probably not in this lifetime )
I don't see how you could afford uni without it unless you're super rich to be honest, or stashed away the full amount for your kid previous. The repayments aren't that huge though. Something like 4% of taxable income once you are earning over 50k a year. _________________ www.demon50s.com - Minimoto parts
http://www.youtube.com/user/HyzerGlen - Videoooozzz
Fri Nov 30, 2012 8:56 am
dyrodium Experienced Roboteer
Joined: 24 Aug 2004
Posts: 6476
Location: Sydney
The idea is once you start making repayments you won't even really notice. Two years ago, the benefit of paying upfront (at least in NSW) was a 20% savings, but they've slashed that down to 10% now so it's almost not worth the extra stress... Few friends were stung by that... _________________ ( •_•)
Joined: 08 Nov 2006
Posts: 1265
Location: Adelaide
I didn't HECS but U was lucky to be able to pay it up front.
Unless you have a lot of money hanging around to save that 10% I would just HECS it. Most people like Angus said would barley notice.
From the Tax office website (http://www.ato.gov.au/individuals/content.aspx?doc=/content/8356.htm)
Even when earning over $91k you are only repaying 8% of your total taxable income (and you have net loss, super and a few other things)
Almost all the grads in the program I am in have HECS and there is not much different in our pay checks. About $120/fortnight from memory.
Glen, didnt you only go to uni for a few weeks (or a semester)? Were you full fee paying to rack up that kinda debt. _________________ Remember to trust me, I am an Engineer.
Joined: 19 May 2010
Posts: 3973
Location: ipswich QLD
Yeah we hecs our way through uni and post grad.
The best thing about hecs is that if you never pay it off and you die the government wavers the bill. _________________ Miles Blow - Julie Pitts
www.mulesfilm.com.au www.wombokforest.com.au
-Pickasso- Vivid Sportsman champion 2015
Fri Nov 30, 2012 3:35 pm
Glen Experienced Roboteer
Joined: 16 Jun 2004
Posts: 9481
Location: Where you least expect
I was there for two semesters in retrospect, should have dropped out before the cut off period as it wasn't working out at all by then lol. hindsight as always. _________________ www.demon50s.com - Minimoto parts
http://www.youtube.com/user/HyzerGlen - Videoooozzz
Fri Nov 30, 2012 3:35 pm
Daniel Experienced Roboteer
Joined: 30 Aug 2005
Posts: 2729
Location: Gold Coast
I didn't earn enough when I first started working to pay off my debt. When your not earning enough they will charge you intetest. Once I hit the minimum limit they will charge you a years worth for the rest of the financial year. That's not bad if you get the pay rise in Augast, but I got thst pay rise in June and lost half my pay that month. But I recomend it over paying up front. Connie's uni fees were $11000 up front every semester and she was working over 56 hours a week in a resturant on top of her study, with free food from the resturant and me helping with her rent and she still need help with paying for 2 out of the 4 semesters. I'd prefer my 10 year debt that I rarely think about over the stress she's been through.
Fri Nov 30, 2012 4:31 pm
seanet1310
Joined: 08 Nov 2006
Posts: 1265
Location: Adelaide
quote:Originally posted by Daniel:
I didn't earn enough when I first started working to pay off my debt. When your not earning enough they will charge you intetest.
By interest do you mean CPI adjustments? Or was yours old enough and have interest? (I do not know the system beyond seven years ago)
I didn't think HECS debt had interest and the Government website study assist seams to indicate this as well (http://studyassist.gov.au/sites/studyassist/helppayingmyfees/hecs-help/pages/hecs-help-welcome)
CP Inexing is often 3-4% (http://www.ato.gov.au/individuals/content.aspx?doc=/content/74307.htm) and used to adjust the cost to reflect real world money values. (In theory the CPI can go down thus reducing your debt such as -0.1 in 1998 for HECS but this is very rare and often a sign the economy is in trouble)
It also kicks in after 11 months now. _________________ Remember to trust me, I am an Engineer.
Joined: 30 Aug 2005
Posts: 2729
Location: Gold Coast
My debt started increasing straight away. But I finished uni in 2003, so the rules have probably changed since then. Started off about $21000 and then increased to about $25000 before I started earning enough to have it taken out with tax.
I think I've got another 12 months before mine is paided off and then I should get an extra $300 a fortnight in my pay check.
Fri Nov 30, 2012 5:37 pm
Philip Experienced Roboteer
Joined: 18 Jun 2004
Posts: 3842
Location: Queensland near Brisbane
Thanks. Good to hear a consensus of opinion. Alex will go the HECS route. _________________ So even the rain that falls isn't actually going to fill our dams and our river systems
Fri Nov 30, 2012 7:02 pm
Philip Experienced Roboteer
Joined: 18 Jun 2004
Posts: 3842
Location: Queensland near Brisbane
What are GPSs like? Never used one. _________________ So even the rain that falls isn't actually going to fill our dams and our river systems
Wed Dec 26, 2012 2:15 pm
Glen Experienced Roboteer
Joined: 16 Jun 2004
Posts: 9481
Location: Where you least expect
Calling Andrew Welch haha.
I use garmin xt on my phone but to be honest i haven't used it in about 12 months now cause i pretty much know my way around Sydney at large. Just memorise it off of google maps before i leave cause i hate having to dive across lanes at the last moment and what not.
My phone gps is pretty good, only point of contention with it is it will tell you to turn left further up and shout out this is your turn when you're right there.
Mum' nuvi is a complete pile and seems to get itself randomly lost before freezing for 5 minutes and working out where it has to go.
The gps integrated into our mazda though is freaking great lol.
Joined: 18 Jun 2004
Posts: 3842
Location: Queensland near Brisbane
Merry Christmas back to you, Glen.
Normally I memorise Google Maps before I leave, but now I am driving semi-trailers through Brisbane City to new locations (new job this week). It is very hard to pull over and check a map and even worse to drop a U turn.
Is a GPS on any particular smart phone good? _________________ So even the rain that falls isn't actually going to fill our dams and our river systems
Wed Dec 26, 2012 2:49 pm
miles&Jules Experienced Roboteer
Joined: 19 May 2010
Posts: 3973
Location: ipswich QLD
Yes go the gps....I used it when delivering pizzas ...it totally rocked.....most phones should have it now....the one on my old nokia n8 works just as good as a stand alone one, but you may get more data charges on a phone compared to a windscreen mounted one....good luck with the new job to _________________ Miles Blow - Julie Pitts
www.mulesfilm.com.au www.wombokforest.com.au
-Pickasso- Vivid Sportsman champion 2015
Wed Dec 26, 2012 3:55 pm
Philip Experienced Roboteer
Joined: 18 Jun 2004
Posts: 3842
Location: Queensland near Brisbane
Thanks, Miles. After more reading, I came across
one
suited to truck driving. _________________ So even the rain that falls isn't actually going to fill our dams and our river systems
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