Legislative Council Fifty-Third Parliament, First Session (53-1) 53 1 Parliament of South Australia Legislative Council published Matters of Interest University Fees University Fees The Hon. T.T. NGO Legislative Council The Hon. T.T. NGO (17:20): Today I would like to draw honourable members' attention to the incomprehensible changes the federal government is making to our universities. By deregulating university fees the Abbott government will drastically change our university system and not for the better. These changes will create a two-tiered system where the most prestigious universities will be able to charge huge amounts of money. Not everyone will be able to afford increased university fees or be lucky enough to receive a scholarship. Thankfully, vice-chancellors from many universities have expressed their concern for students from less well-off backgrounds. University of Melbourne Vice-Chancellor Glyn Davis commented that the prospects for less well-off students are 'very distressing'. She warned that students could see their fees raised by up to 60 per cent. University of Sydney Vice-Chancellor Michael Spence is afraid that the thought of massive debt will deter students from universities. The Abbott government claims that deregulation will drive some course prices down. This has been dismissed by Professor Chapman from the University of Sydney as 'fantasy land'. Not only is the Abbott government paving the way for university fees to increase, it will also charge our students a higher interest rate. On average students will have to pay back an extra $39 million per year in higher interest rates. Many of those in this chamber and even many of those in the federal cabinet received free university degrees. Others have student loans which were appropriately subsidised by the federal government. Young South Australians will not be given this opportunity under this government. Our university system sets us apart from the rest of the world. Our system allows Australians to aspire to a higher education and a better life. It rewards those with the keenest minds and not just those with the deepest pockets. Let it be known that in the United States student debt is the largest amount of household debt after mortgages and it stands at more than a trillion dollars. Is this what we really want to leave our younger generation? Our young people are so concerned about this that in August hundreds of students protested when the Prime Minister visited the University of Adelaide. The cost of education was also of concern to Joe Hockey who protested against a rise in the cost of education when he was a university student. He has now changed his tune. The Abbott government will destroy our university system as we know it. South Australians will think twice before they enter into a university education. Is this what we really want?