When the Higher Education Contribution Scheme (HECS) student loan program was introduced in 1989, fewer than 8 per cent of Australians had a university degree and graduates could expect to establish well-paid careers.
But 30 years on, as the number of people with degrees explodes, that’s no longer a sure thing.
Graduates today often look like Launceston mum Georgina Routley, who retrained as a teacher after having kids.
Seven years into her new career, the 47-year-old still has $26,000…