Dak
mentat
What do you mean? Most Australians have interest free student loans when they enter higher education, they don't have to pay for it until they actually get a full time job. The rate of return of university degrees are terrible if you do a job like everyone else doing commerce or arts.
*edit: These interest free student loans, are actually barely noticeable in your paycheck. Students only have to pay part of their actual total fees when they finish*
There are still a ridiculously limited number of engineers (especially process and chemical, we are responsible for the purity and grade of any product that is being produced, from food items, petroleum and gas, to the minerals and metals used in everyday items) actually in the country and studying, hence the high pay. Most people tend to drop out after first or second year because it's too difficult.
The people who work within the resource industry in Australia (minerals, metals, oil & gas) tend to get paid alot, even if you're just a trades person with no qualifications. That's because Asian countries are buying all our ore and energy at crazy prices. Their rate of consumption is ridiculous. Plus when it comes to minerals and metals; China buys all our ore, smelts it at their low labour costs and sells it at stupidly expensive prices to everyone else in the world.
Where does the money for the loans come from?