Community Attitudes to Income Contingent Loans

Abstract

 A survey of community attitudes to income contingent loans was conducted in May 2008. The predominant focus of the survey was to ascertain the level of support, or otherwise, for the Higher Education Contribution Scheme (HECS) and for the (hypothetical) application of income contingent loans (ICL) to various other policy areas, including drought relief, childcare, research and development, and elite athletes. Public debate over the potential application of income contingent loans to a number of these areas has increased in recent times. The survey results indicate strong community support for HECS, an ICL for Research and Development, and repayment of government assistance to elite athletes. By contrast, there is little support for introducing such a scheme for childcare, and especially so from those who have received government assistance for childcare. Opinion on repayable assistance for farm businesses for drought relief is evenly balanced for and against.