June 23, 2026
Is HECS still delivering on its original promise?
<div class="SCXW21593553 BCX0"> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">HECS transformed access to higher education in Australia and became one of the country</span><span class= "NormalTextRun SCXW21593553 BCX0">'</span><span class= "NormalTextRun SCXW21593553 BCX0">s most influential public policy innovations. </span></span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">But </span><span class= "NormalTextRun SCXW21593553 BCX0">nearly four</span><span class= "NormalTextRun SCXW21593553 BCX0"> decades on, rising student debt, indexation concerns and changing graduate outcomes are raising fresh questions about whether the system still works as intended.</span></span><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">This episode examines the origins of the Higher Education Contribution Scheme</span><span class= "NormalTextRun SCXW21593553 BCX0"> (HECS)</span><span class= "NormalTextRun SCXW21593553 BCX0">, and how its income-contingent loan model influenced education funding around the world. </span></span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">It also explores the challenges facing the system today and the policy choices that could shape its future.</span><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">Key </span><span class= "NormalTextRun SCXW21593553 BCX0">points covered</span><span class= "NormalTextRun SCXW21593553 BCX0">:</span></span> <span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </div> <div class="ListContainerWrapper SCXW21593553 BCX0"> <ul class="BulletListStyle1 SCXW21593553 BCX0" role="list"> <li class="OutlineElement Ltr SCXW21593553 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="18" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="1" data-aria-level="1"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">Why HECS was introduced and </span><span class= "NormalTextRun SCXW21593553 BCX0">the </span><span class= "NormalTextRun SCXW21593553 BCX0">problem it was designed to solve</span></span><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </li> </ul> </div> <div class="ListContainerWrapper SCXW21593553 BCX0"> <ul class="BulletListStyle1 SCXW21593553 BCX0" role="list"> <li class="OutlineElement Ltr SCXW21593553 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="18" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="2" data-aria-level="1"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">How income-contingent loans changed access to university</span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </li> </ul> </div> <div class="ListContainerWrapper SCXW21593553 BCX0"> <ul class="BulletListStyle1 SCXW21593553 BCX0" role="list"> <li class="OutlineElement Ltr SCXW21593553 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="18" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="3" data-aria-level="1"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">How much today's HECS has changed from its original design</span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </li> </ul> </div> <div class="ListContainerWrapper SCXW21593553 BCX0"> <ul class="BulletListStyle1 SCXW21593553 BCX0" role="list"> <li class="OutlineElement Ltr SCXW21593553 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="18" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="4" data-aria-level="1"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">Assessing </span><span class="NormalTextRun SCXW21593553 BCX0">the </span><span class="NormalTextRun SCXW21593553 BCX0">Job-ready Graduates p</span><span class= "NormalTextRun SCXW21593553 BCX0">rogram </span><span class= "NormalTextRun SCXW21593553 BCX0">in 2020</span></span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </li> </ul> </div> <div class="ListContainerWrapper SCXW21593553 BCX0"> <ul class="BulletListStyle1 SCXW21593553 BCX0" role="list"> <li class="OutlineElement Ltr SCXW21593553 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="18" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="5" data-aria-level="1"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">Whether rising student debt is undermining the original policy goals</span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </li> </ul> </div> </div> <div class="SCXW21593553 BCX0"> <div class="ListContainerWrapper SCXW21593553 BCX0"> <ul class="BulletListStyle1 SCXW21593553 BCX0" role="list"> <li class="OutlineElement Ltr SCXW21593553 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="18" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="6" data-aria-level="1"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">The impact of indexation and changing fee structures</span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </li> </ul> </div> <div class="ListContainerWrapper SCXW21593553 BCX0"> <ul class="BulletListStyle1 SCXW21593553 BCX0" role="list"> <li class="OutlineElement Ltr SCXW21593553 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="18" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" data-aria-posinset="7" data-aria-level="1"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">Potential reforms and what they could mean for students and taxpayers</span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":240}"> </span></p> </li> </ul> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">Tune in </span><span class= "NormalTextRun SCXW21593553 BCX0">now. </span></span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">Host</span><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">:</span><span class= "NormalTextRun SCXW21593553 BCX0"> </span></span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.linkedin.com/in/tahn-sharpe/" target="_blank" rel= "noreferrer noopener"><span class="NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle="Hyperlink">Tahn Sharpe</span></a><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">,</span><span class= "NormalTextRun SCXW21593553 BCX0"> </span><span class= "NormalTextRun SCXW21593553 BCX0">e</span><span class= "NormalTextRun SCXW21593553 BCX0">ditor, CPA Australia</span></span><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"134245417":false,"201341983":0,"335559738":120,"335559739":60,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun MacChromeBold SCXW21593553 BCX0" lang="EN-US" xml:lang= "EN-US" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">Guest</span><span class= "NormalTextRun SCXW21593553 BCX0">: </span></span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.linkedin.com/in/bruce-chapman-a6103111/" target= "_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">Bruce Chapman</span></a><span class= "NormalTextRun SCXW21593553 BCX0">, </span><span class= "NormalTextRun SCXW21593553 BCX0">architect of HECS and emeritus professor of Economics at </span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.linkedin.com/school/australian-national-university/" target="_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">ANU</span></a><span class= "NormalTextRun SCXW21593553 BCX0">. </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">You can learn more about </span><a class="Hyperlink SCXW21593553 BCX0" href= "https://brucejchapman.com/" target="_blank" rel= "noreferrer noopener"><span class="NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle="Hyperlink">Bruce Chapman at his website.</span></a><span class= "NormalTextRun SCXW21593553 BCX0"> </span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">Loving this episode?</span><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">Listen to more INTHEBLACK episodes and other CPA Australia podcasts on YouTube. Head to our podcast page </span><a class="Hyperlink SCXW21593553 BCX0" href="https://www.youtube.com/@CPAaustralia/podcasts" target= "_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">CPA Australia - YouTube</span></a><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">And of course, click subscribe to the channel today.</span><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">We deliver regular content that will help boost your career skills and capabilities. </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="none"><span class= "NormalTextRun SCXW21593553 BCX0">Additionally,</span><span class= "NormalTextRun SCXW21593553 BCX0"> </span></span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://intheblack.cpaaustralia.com.au/" target="_blank" rel= "noreferrer noopener"><span class="NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle="Hyperlink">INTHEBLACK</span></a><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="none"><span class= "NormalTextRun SCXW21593553 BCX0"> online </span><span class="NormalTextRun SCXW21593553 BCX0">has</span><span class="NormalTextRun SCXW21593553 BCX0"> stories on</span><span class= "NormalTextRun SCXW21593553 BCX0"> </span><span class= "NormalTextRun SCXW21593553 BCX0">a variety of accounting, </span><span class= "NormalTextRun SCXW21593553 BCX0">finance</span><span class= "NormalTextRun SCXW21593553 BCX0"> and business topics. </span></span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">CPA Australia publishes four podcasts, providing commentary and thought leadership across business, finance, and accounting </span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts" target="_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">https://www.cpaaustralia.com.au/tools-and-resources/podcasts</span></a><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">INTHEBLACK </span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack" target="_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack</span></a><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">INTHEBLACK Out Loud</span><span class= "NormalTextRun SCXW21593553 BCX0"> </span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack-outloud" target="_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack-outloud</span></a><span class="EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">Excel Tips</span><span class= "NormalTextRun SCXW21593553 BCX0"> </span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/excel-tips" target="_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">Excel Tips | CPA Australia</span></a><span class= "EOP Selected SCXW21593553 BCX0" data-ccp-props= "{"201341983":0,"335559739":0,"335559740":276}"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "NormalTextRun SCXW21593553 BCX0">With Interest</span><span class= "NormalTextRun SCXW21593553 BCX0"> </span><a class= "Hyperlink SCXW21593553 BCX0" href= "https://www.cpaaustralia.com.au/tools-and-resources/podcasts/with-interest" target="_blank" rel="noreferrer noopener"><span class= "NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">https://www.cpaaustralia.com.au/tools-and-resources/podcasts/with-interest</span></a><span class="NormalTextRun SCXW21593553 BCX0"> </span></p> </div> <div class="OutlineElement Ltr SCXW21593553 BCX0"> <p class="Paragraph SCXW21593553 BCX0"><span class= "TextRun SCXW21593553 BCX0" lang="EN-AU" xml:lang="EN-AU" data-contrast="auto"><span class= "NormalTextRun SCXW21593553 BCX0">Search for them in your podcast platform. </span><span class= "NormalTextRun SCXW21593553 BCX0">E</span><span class= "NormalTextRun SCXW21593553 BCX0">mail the podcast team at </span></span><a class="Hyperlink SCXW21593553 BCX0" href= "mailto:podcasts@cpaaustralia.com.au" target="_blank" rel= "noreferrer noopener"><span class="NormalTextRun SCXW21593553 BCX0" data-ccp-charstyle= "Hyperlink">podcasts@cpaaustralia.com.au</span></a></p> </div>