Merit, yes… Although assumptions about future returns are predicated on current labour-force structures? The debt/liability is permanent!  Jobs… not so much?

HECS for TAFE: the case for extending income contingent loans.

In this paper, a case is argued for introducing an income contingent loan to the VET sector. The economic underpinning is similar to the Higher Education Scheme (HECS) which is identified as a useful guide. It is established that there is significant returns from a VET qualification.

For example, diplomas and associated diplomas are associated with rates of return of around 8-10 per cent per annum for men, and about 10-14 per cent per annum for women. These statistics are comparable to those investments that are usually cited for undergraduate higher education degrees. [edna education news]

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