HECS transformed access to higher education in Australia and became one of the country's most influential public policy innovations.

But nearly four decades on, rising student debt, indexation concerns and changing graduate outcomes are raising fresh questions about whether the system still works as intended.

This episode examines the origins of the Higher Education Contribution Scheme (HECS), and how its income-contingent loan model influenced education funding around the world.

It also explores the challenges facing the system today and the policy choices that could shape its future.

Key points covered:

Why HECS was introduced and the problem it was designed to solve

How income-contingent loans changed access to university

How much today's HECS has changed from its original design

Assessing the Job-ready Graduates program in 2020

Whether rising student debt is undermining the original policy goals

The impact of indexation and changing fee structures

Potential reforms and what they could mean for students and taxpayers

Tune in now.

Host: Tahn Sharpe, editor, CPA Australia

Guest: Bruce Chapman, architect of HECS and emeritus professor of Economics at ANU.

You can learn more about Bruce Chapman at his website.

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