The thing with that 40k is I'd assume it's in addition to the Fee-Help limit of >90k (goes up every year by CPI). So you are paying 130k + fees for a normal uni degree that go on HECS. UNSW may be the best institution in Australia but you have to weigh up if that extra cost is for you.
If the course doesn't reach the FEE-HELP limit, why do you need to cough up the 40k and not just use FEE-Help for it all?