Students hear of new funding arrangements

Student banking customers in Australia know all too well that the amount they pay for their education depends on the course they choose.

The government usually contributes funding towards a percentage of a person's studies, but this varies greatly, with those enrolled on science-based degrees only paying for 19 per cent of their course, while those taking other subjects such as law, economics and accounting have had to fork out up to 84 per cent.

However, the Advertiser reports that this could all be about to change, as the Federal Government has unveiled plans to introduce a blanket split across universities, which will see students cover 40 per cent of their course costs, with the authorities footing the bill for the other 60 per cent.

Vice-chancellor at the University of Adelaide Professor James McWha said the news was "encouraging".

Youngsters' priorities when it comes to student banking may alter because of the changes, with science students perhaps more likely to want an account that offers a good overdraft facility in order to cover the extra costs they may incur.

Have a question about student banking? Ask the money gurus at Mozo AnswersADNFCR-1761-ID-801235134-ADNFCR