Biomedicine - 99.00+ Guaranteed pathway (NOT CHANCELLOR'S SCHOLAR'S)

[Andiio]

To 'apply' for this, so to speak, do you simply put in the normal Biomedicine course into your preferences?

(silly question but I'm just confirming to make sure)

Thanks!

[stonecold]

I would say that is correct.

When you apply for a graduate professional entry course, you will be able to indicate on the application form that you are eligible for guaranteed entry.

Please note that if you are eligible for guaranteed entry to an Australian fee place in the graduate course you can still request to be considered with the rest of the applicant pool for a Commonwealth supported place. For some courses this will mean that you must complete the standard entry requirements of the course (e.g. admission tests, personal statements etc.) to be eligible for a Commonwealth supported place, even though the entry requirements may not be necessary for guaranteed entry into an Australian fee place. For more details about how and when to apply for individual courses please visit Course Search.

Note: The usual application deadlines apply for all applicants, including those eligible for guaranteed entry.

http://futurestudents.unimelb.edu.au/admissions/entry-requirements/guaranteed-entry/frequently_asked_questions_about_guaranteed_pathways

[Sellingman]

To 'apply' for this, so to speak, do you simply put in the normal Biomedicine course into your preferences?

(silly question but I'm just confirming to make sure)

Thanks!

You are aware the cost is $300,000 yeh?

If I were you, if I had even 1% intention of this, I'd ask my parents first.

[dc302]

I guess you are not aware of FEE-HELP. And the cost is about 250k.

edit: and I said this in the other thread but this is only ever used as a backup.

[Sellingman]

Still man, that's 250k that needs to be paid for a medical degree. Seems an insane amount to charge someone for education.

[dc302]

It definitely is very high but it's the students own choice to take it. Those who really want to be doctors would take it I think. You'll make the money back soon enough anyway.

[Sellingman]

It definitely is very high but it's the students own choice to take it. Those who really want to be doctors would take it I think. You'll make the money back soon enough anyway.

I'd give an arm and a leg to be a doctor.

But I can't justify asking my parents (who realistically has any other option?) for $250,000 because I didn't get a CSP place.

Otherwise with the interest on what you can't put on FEE-HELP you're going to have a massive debt before you even move out of home.

[dc302]

You pay the money back slowly, and with the medical system you are guaranteed an increase in the minimum wages for each year after you graduate (until like, 20 years later or something). By the time you are a full staff specialist, which usually takes like 7-8 years, you'll be earning close to 200k a year and more. Until then, your pay looks like 60-100+k depending on how many years out of grad school you are.

[nubs]

But even with a CSP, don't you have to ultimately pay the government back once you finish your degree? So in the end, will you be paying the same amount with a CSP as you would with an Australian Fee Place?

Like for Bachelor of Science, the government pays around 2/3s of the course price, and you pay 1/3, and then after completion of the course, you can either pay the government back in full, or get a deferral - but even then you'd still have to pay the government back in total, wouldn't you?

[stonecold]

But even with a CSP, don't you have to ultimately pay the government back once you finish your degree? So in the end, will you be paying the same amount with a CSP as you would with an Australian Fee Place?

Like for Bachelor of Science, the government pays around 2/3s of the course price, and you pay 1/3, and then after completion of the course, you can either pay the government back in full, or get a deferral - but even then you'd still have to pay the government back in total, wouldn't you?

Nah, it is different for FFP.  I'll try to explain it, and horrify you with how much you are getting screwed by it all.

Everything you mention applies to a CSP.  100% correct.  It is different for a FFP.  Nothing is subsidised for by the governement with a FFP.

With CSPs, the government will pay for a certain amount of your degree, and then their is a student contribution as well.  In medicine for example, the actual cost of the degree is ~24k per year.  The government subsidises around 2/3 of this, and the student contribution amount is something like 9-10k per year.  You put this on a HECS loan, and only have to pay it back once you leave uni and are earning an income above some predetermined threshold.  There is no interest on HECS, and you are allowed to complete up to 7 years of study under the scheme.  It is however indexed for inflation.

Now, moving on to FFP.  As I said before, nothing is subsidized by the government.  All that they are willing to do is loan you up to ~110k to cover the costs of your study.  I believe that this FEE-HELP loan is also interest free which is a plus, but don't quote me on it. 
Now unis such as Melbourne come along and realize how much money they can make from this.  They charge ~54k each year for an Australian Full Fee Place...but didn't I just say above that a med degree only costs about 24k per year?  Yeah, well that is where you get screwed hardcore and are tipping in an extra 30k every year into Melbourne's coffers.  Interestingly enough, I believe the number of these FFP spots available has increased recently...at the expense of CSP spots. So at the end of the day, the Melb website says that you can expect to pay around a total of ~230k over the duration of your MD in a FFP.  The problem is, the government will only loan you ~110k.  So you are left to come up with the other ~120k or so all on your own and upfront.

Not really an ideal situation...but as I have said previously, the uni loves it and is raking in the cash from it.

[nubs]

oh cbf FFP

but thank you so much, you've made it a lot clearer for me

[Russ]

Now, moving on to FFP.  As I said before, nothing is subsidized by the government.  All that they are willing to do is loan you up to ~110k to cover the costs of your study.  I believe that this FEE-HELP loan is also interest free which is a plus, but don't quote me on it. 
Now unis such as Melbourne come along and realize how much money they can make from this.  They charge ~54k each year for an Australian Full Fee Place...but didn't I just say above that a med degree only costs about 24k per year?  Yeah, well that is where you get screwed hardcore and are tipping in an extra 30k every year into Melbourne's coffers.  Interestingly enough, I believe the number of these FFP spots available has increased recently...at the expense of CSP spots. So at the end of the day, the Melb website says that you can expect to pay around a total of ~230k over the duration of your MD in a FFP.  The problem is, the government will only loan you ~110k.  So you are left to come up with the other ~120k or so all on your own and upfront.

Not really an ideal situation...but as I have said previously, the uni loves it and is raking in the cash from it.

To clarify this a bit: fees go up each year, so by the time you graduate it will be closer to 300k
the decease in CSPs was because the government cut their numbers and they wanted to keep cohort size the same
the extra FFP cost subsidizes the program, not just "pure profit" for the uni

[thushan]

Also, as Russ said in another thread, FFPs are NOT guaranteed an internship position. (is that right?)

[Russ]

Correct. I'm going to lock this, to direct the traffic to the other thread.