More funds for student loans in 'no frills' Budget

New funds have been set aside for government-backed student loans in the latest federal Budget.

As part of a new skills drive by the government, $243 has been allocated to vocational education and training programs during the next four years, which includes funds for student loans and benchmarks to improve teacher quality.

While it may be a positive step for Aussies looking to compare student loans and secure better student finances, the Budget has also been slammed by lobby groups for its limited benefits for the needy.

Frank Quinlan, executive director of Catholic Social Services Australia, said the Budget had achieved economic balance "but possibly at the price of social imbalance", adding that there was little evidence of a serious investment in tackling social inequality.

In addition to more training and student financing, the Budget allocated an additional $2.2 billion to the health sector.

Meanwhile, the Westside News recently reported that the financial worries of bright, final-year student at the University of Queensland have been eased after he won the prestigious Frank Finn Scholarship.

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