🚀 go-pugleaf

gleeson@mundil.cs.mu.OZ.AU (Red Mountain) writes:
>BZZZZT. Sorry Paul, but we do have a lovely consolation prize of a set of 
>Ginsu steak knives for you...

>What stops you from getting the $300 p.a. for nothing is 
>1) the fact that you're not eligible for Austudy
>2) the fact that even if you were eligible for Austudy, you have to "trade
>in" half the value of the loan in Austudy paymentsin exchange for the 
>loan. i.e. Jo Bloggs has $6000 p.a. in Austudy or Abstudy, but decides to 
>"trade in" $2000 for a loan of $4000. As the booklet screams in bold type,
>** This would give you a total of $8000 **. In fact, in the long run it
>would leave you with $4000 (or $4300 if you paid off the loan within 5 yrs)
>of your grant instead of the original $6000.

	Glad to see your reading the book Martin... While your at it, read
the section named 'What if I can't get AUSTUDY or ABSTUDY?', it is on pages
4&5.
	Also while your re-reading stuff, re-read the post. I might not be
aligible for austudy, but I might be eligible for the supplement. I think I
made that point clear.

>Hopefully most students will be smart enough not to give the government
>back any of their grant which will never have to be repaid.

>This so-called "interest free loan" actually has a 33% interest charge (but
>not per-annum :-).

	I have not been paying much intrest in what's been happening with
austudy, so I don't know where the hell you got this '33%' stuff from. To
quote someone I know, "As the booklet screams in bold type", 'No real rate
of intrest - the loan is indexed at the rate of inflation'.

>Marty.

PS.	I think we should keep flame wars to mail form now on :-).