Paying HECS upfront

[randomnezz]

Hi,
i am really considering paying the hecs upfront but i was wondering if i really should let my parents pay...
From what i gather paying upfront i will get

-- a 20% discount; so as my degree after 4 year will be about 28k ish so i would only pay 22k saving 6k or so; however i don't really like the idea my parent still paying for me, so i think that i'll will pay them back when i start working
-- will not need to pay the CPI (i think it like some interest thing ; about 3% onto of the unpay amount (p/a???) )

OR

 is it better to pay it all a once after emplyment in my 1st year ...(i'm doing a allied health course so my min wage is about 40k) and i guess i will still be living my parents ...so much for wanting independence  :2funny:

OR

say i defer the hecs, slowly pay it off ...(seems like a pain in the ass) however keeps my parents out of the equation...

i would like to hear some comments and if any1 else have something to add, it would very much appreciated 

[randomnezz]

Also this is also assuming i don't fail, lol

and also i'm not sure if i am able to save money when i start working 0_0 hehe

[Collin Li]

Last one is the best. The interest on that loan is very very low.

[Eriny]

If you don't like relying on your parents, you could do a deal with them. Like, in the first year they pay half your HECS upfront and you pay whatever you have, and then for every year they pay a little less in HECS and so you gradually become responsible. I think it's a good idea to pay some upfront if you can, how much is up to you and would depend on your finances.

[brendan]

go for the last one

[excal]

If you have the money, then pay upfront.

Else, do the last one.

(as an aside, I've just realised that if you are getting a scholarship stipend - it's actually more value if you took $1000 and put it in super as a post-tax contribution. It's an immediate 150% return [govt. super co-contribution] + continual (high) interest on that - not to mention the nifty tax benefits when you do retire!)

[randomnezz]

also i forgot to mention i get a 2k scholarship p/a but i guess i could just put it in as voluntary payment.. (if i keep it i think i would spend it all on shopping sprees...ekk) or i can get a laptop...

the superanuation thing also sounds good although i feel that a bit too young, (and jobless) to think about retire...hehe

[Ninox]

how would we go about doing that excal?

[gfb]

I chose the partial upfront payment. Where you pay a bit of it now, and pay the rest later.

[nak]

thats if you do happen to get a job straight after graduating. unless your occupation has a shortage.

[randomnezz]

From the government website, i think there is a shortage but yeah it doesn't mean i would get a job, and i think i gonna do partually upfront =) and slowly pay whatever left.....thanks for everybodys comments  :coolsmiley:

[nak]

what's the government website to check occupation shortages?

[enwiabe]

http://www.arts.unimelb.edu.au - it's not government, but it should provide enough information on unemployment opportunities.

[nak]

http://arts.unimelb.edu.au - it's not government, but it should provide enough information anyway.

The link is dead

[enwiabe]

needed the www.