Uni debt (HECS)

[Souljette_93]

So what did you end up doing?

for me: Pay off the fees! ( Actually, I already have )

[andy456]

I havent done anything yet.... I don't get the money till like april (scholarship) so I dunno....
I really want to travel..

[boysenberry]

I havent done anything yet.... I don't get the money till like april (scholarship) so I dunno....
I really want to travel..

Where to?

[andy456]

Bali and Croatia

[boysenberry]

Bali and Croatia

Sounds like wonderful places. Good choices.
Your Indonesian would definitely be handy in Bali I think.

[monokekie]

um... generally speaking... money depreciate over time... and salaries of people increase.... and by the time you graduate the repayment rate might be more affordable to you?

Purhas you can use ur scholarship money or your money from work for a trip? lol...

[rustic_metal]

Debt or a holiday? What a question.

[slothpomba]

Nina's post pretty much hits the nail on the head.

Theres no compelling reason to pay it off now really, might as well live your life without worry now while you can.

[jimmy999]

You know you can change how your scholarship is used each year. This year, get it paid into your account and spend it on an enjoyable holiday. Then next year, because you've been on that holiday, you probably wouldn't want to go on another holiday thus for 2nd year, you can make the scholarship be paid straight towards your fees.

Either way, definitely take the money this year to invest in savings for a holiday, then in later years use it for the fees

[Eriny]

If you wanted to maximise your money now, you would put it in a super fund and then you'd get a co-contribution from the government and high interest. But, then, you couldn't use that money until you retire. You would be profiting in the (very) long run, but it doesn't seem to be worth it to me because one day you'll have a good salary and you won't have to sacrifice one thing for another and the sum of money won't be such a big deal to you.

In other words, I think you have more need for the money now than your $45,000 per annum earing future-self needs (or even what your retired future-self needs). And hey, if you don't end up earning that much, you'd really regret paying off the HECS!

[tram]

Ummmm, I'm in the same situation as I have scholarship money but I think the 20% discount is enough incentive for me for now. At least for first year I think i'll use the Money to pay off my fees, I mean I'm living at home so don't have to worry about all those kinda costs and I'm tutoring so I've got enough money to have fun when I want to relax or buy myself something. Just the way I see it, might as well take advantage of the discount if I can.