ATAR Notes: Forum
Uni Stuff => General University Discussion and Queries => Topic started by: Gloamglozer on January 19, 2010, 05:07:47 pm
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With the partial up front payments, it says:
Partial up front payments of $500 or more will attract a 20% discount on the payment amount. To calculate the real value of your payment, including the discount, multiply your payment by 1.25.
Why 1.25 though?
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because you have to pay interest ie. 125% of the required value?
ps: does anyone know if the portal at UOM is working ?
cant seem to log on. :(
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Maybe it says that because the discount USED to be 25% off for payments up front (like 2007 and before I think). The information you are reading may be old hence why it is saying to multiply it by 1.25 instead of 1.20?
Thats my best bet.
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because 20% off 125 is 100. Get it?
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Maybe it says that because the discount USED to be 25% off for payments up front (like 2007 and before I think). The information you are reading may be old hence why it is saying to multiply it by 1.25 instead of 1.20?
Thats my best bet.
It could be a typo. But they also used 1.25 in their example.
It couldn't be interest because in the booklet, it says that no interest is charged on our debts.
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No it is correct. Now the discount entitles you to 20% off i.e. you are paying only 80% of price.
Imagine you are paying $1000. In effect this acts as a $1250 payment, as 80% of 1250 is 1000.
Now multiply 1000 by 1.25 ....
A fifth of the real value is a quarter of the payment. Add a quarter to the payment to obtain the real value.
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No it is correct. Now the discount entitles you to 20% off i.e. you are paying only 80% of price.
Imagine you are paying $1000. In effect this acts as a $1250 payment, as 80% of 1250 is 1000.
Now multiply 1000 by 1.25 ....
A fifth of the real value is a quarter of the payment. Add a quarter to the payment to obtain the real value.
Ah I see it now. I've been confusing myself all the way through. Thanks matty.
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That's alright, it is a bit confusing.
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does anyone know how the partial up front payment work?
do you pay 500 by the census date and you get 20% discount on the cost of your whole course.
and the remaining cost is paid through tax when you work?
so confusing!
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does anyone know how the partial up front payment work?
do you pay 500 by the census date and you get 20% discount on the cost of your whole course.
and the remaining cost is paid through tax when you work?
so confusing!
You need to pay at least $500 to get the 20% of the payment amount, not the whole course. So, for example, if you pay $500, you multiply it by 1.25 and that gives you $625. So you pay $625 and the government pays this amount:
Total cost of course for the year or semester - $625 = What the government pays
What the government pays is what you owe them and what will come out of your taxes when you earn more than $43 k/per (including super contribution).
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why do you multiply by 1.25?
so its like the 500 payment turns into a 625 pretty much?
thanks heaps.
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why do you multiply by 1.25?
so its like the 500 payment turns into a 625 pretty much?
thanks heaps.
lol. That's exactly why I made this thread - why 1.25? Read matty's post and you'll get why since it's a 20% of the payment amount.
And from my understanding from the booklet that I got in the package, yes the $500 becomes $625.
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yeah i got it, thanks heaps!
hopefully next wednesday will be pretty good and o-week :)