Do some research on indexation before signing up to these debt schemes.
It appears the going rate for many of these CPL courses plus Instrument Rating or FIR is around $150,000. The commonwealth has a loan fee of $20,000 on top of that. That’s a big figure.
Assuming one isn’t over the income threshold for a few years due to low paying jobs, you don’t need to pay anything. However, indexation then comes into play, currently over 3%. That debt just grows. If you don’t pay anything for 5 years due to being in initial low paying jobs, that debt is now over $200k. Then you start earning more, no doubt want to move out of home, start a family, which chews up your higher income later on, oh, and you still have that bounty around your neck with now sucks more of your income away. Life is miserable.
My financial side is having a heart attack just reading into the complexities around these programs. Sounds like one for 4 Corners to dive into a bit. We are training people up, and getting people into serious debt, when on the other end, the job market is a trickle.
Last edited by nomess; 17th May 2025 at 07:46.