While the Government debt due to HECS is high, the return, namely the interest paid to Government by ex students when they start work is relatively low. Its this interest collected by the Comm from ex Students (HECS) loan repayments that was referred to in the Senate Committee.
HECS repayment only happens when the student finds work and hits the payment threshold wage; that's why its popular for HECS students to take a year or 2 overseas to avoid HECS repayments
NB: Interest does not start on HECS loans until the beneficiary starts work and hits the earning threshold.
One doesn't have to be a PHD in the ATO to see that the oil and gas corps are ripping us off :
IE: The higher the exports, the lower the tax receipts!!!
So back to topic: No wonder East Timor is miffed about Aus dragging its ass over the Timor Gap
