Careers Coaching for Students: How will the Federal Budget impact your Child?
Careers coaching can support students and parents at times of change. The Federal Budget is one such time of uncertainty. So briefly to highlight the key changes with respect to education:
Schools
An additional $18.6 bn over 10 years (needs-based, so some schools will benefit, others will lose out).
Universities – subject to a 2.5% ‘efficiency dividend’ over 2 years.
Tertiary students
– Tuition fee contributions will increase by 1.8% each year between 2018 and 2021. Students will now be paying 46% of the real cost of their degree, up from 42%.
– The HECS debt threshold lowered to $42,000 (from $55,874) adding approximately 180,000 graduates to the repayment scheme.
– The rate of collection of HECS debt will be reduced from 4% to 1% of income, incresing to a 10% repayment rate for those earning $119,882 and above.
VET Courses
– A $1.2bn “Skilling Australians Fund”. This Fund will support up to 300,000 apprenticeships, traineeships and higher level skilled workers, designed to reduce the decline in trade occupations and reliance on foreign workers.
Rural and Regional Enterprise Scholarships
– ‘Backing Regional Communities’ offers $24m for Enterprise Scholarships for up to 1,200 students to enhance access to VET programs.
I met many parents and students from years 9 to 12 at the VCE & Careers Expo, last week. There was much uncertainty and indecision among those student and a little anxiety in the parents. The Budget changes may well add to these concerns. Pathways exist and government supported places in tertiary courses remain in place. No, this is no longer the Welfare State. But you can commence study without paying up-front. Careful course selection is the key and it must be said that students to complete a higher education course:
- is more likely to be in meaningful employment, and
- is more likely to earn better across the career life.
Careers coaching for students is essential at times of change. Karen Your Career Coach excels in supporting students from year 9 to year 12 and beyond, in a progressive mentoring service that can eliminate fears and uncertainty.
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