A statistical simulation of the Universities Accord recommendations
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Introduction
In Australia, students can afford tertiary education through a government loan known as the Higher Education Loan Program (HELP). To ensure the value of the loan is not devalued, they are indexed annually based on the Consumer Price Index. Candidates begin to repay the loan when their post-tax income exceeds ~$51k and has a stepped repayment rate that reaches a maximum of 10% when earning above ~$151k. The most recent indexation…