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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


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BFCSA: Australian young people today are overqualified, underemployed and swimming in debt: report

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Young people today are overqualified, underemployed and swimming in debt: report

Sydney Morning Herald June 15, 2016 - 2:47PM

Kelsey Munro


Young Australians are more educated than previous generations, but they are struggling to turn higher qualifications into paid work.

And they are paying considerably more for an education that is not properly equipping them with the skills needed in a rapidly changing workforce, according to a new report that paints a grim picture of intergenerational inequity.

In the middle of an election campaign where key youth issues have struggled for airtime, the report by advocacy and research group the Foundation for Young Australians suggests this generation may be the first to contribute more to government coffers than they receive, due to the ageing population, higher health costs and a shrinking tax base.

"Sometimes we tend to blame the individual young person - sometimes they blame themselves," said the foundation's Jan Owen.

"But there are clearly systemic, global changes driving this.

"On the one hand, you've got young people studying harder, managing more debt, and working harder, with much higher skills required at entry level in a really casualised, unstable world of work with little return on their investment in sight; and on the other hand you've got the government not prioritising investment in education that's fit for purpose.

"It's a massive disconnect of priorities, almost intergenerational inequity."

Australians aged between 18 and 26 are 1.7 times more likely to hold an undergraduate degree than their parents' generation. But job insecurity has increased, with 3.4 times as many young Australians underemployed and 2.8 times as many employed part-time compared with 1985, the report says.

The foundation estimates the average cost of a three-year bachelor degree has gone from free for a student in 1985, to $10,342 in 1991 and $26,298 in 2016.

Young women are facing a gender pay gap that has barely improved in 30 years.

And it's much harder to enter the housing market than it was for their parents. Rents have increased by 44 per cent in the past decade.

In 1985, the average Sydney home buyer took six years to save their deposit, and an average home cost six times the average full-time annual income.

In 2015, the average Sydney homebuyer needed 15 years to save their deposit and the average home cost 13 times NSW average full-time annual income.

Ms Owen said a brighter future was possible if the education system was refocused on the skills industry wants, and if governments placed young people at the centre of economic policy.

Leo Fieldgrass from the Australian Youth Affairs Coalition said the report "confirms what we already know, that young Australians are the generation doing it toughest at the moment".

"There are a number of systemic issues that need to be addressed ... But young people need to be part of that discussion.

"Voters under the age of 25 are going to comprise over 10 per cent of the entire vote and most of those are undecided.

"So there's a huge swing vote still to make their minds up and all sides of politics really need to be doing more to engage with young voters."


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