If you're already studying at university or thinking of starting a tertiary course next year, the Federal Government's plans will affect you.
Back in May, the Government announced a package of measures it argued would make university funding more sustainable and fairer.
How much will student fees increase?
From next year, student fees will gradually increase, starting with a 1.8 per cent rise. By 2021 fees will have increased by 7.5 per cent in total.
For a four-year course, that means an increase of between $2,000 and $3,600 depending on the area of study.
The biggest increase will be for a six-year medical degree, which will increase by $3,900.
Will I have to pay anything up front?
No, students won't face upfront fees. But you'll have to repay your student loans sooner when you start earning $42,000 a year, down from the old threshold of $55,000.
As you earn more, the amount you repay will increase as well.
How does Australia compare to the rest of the world?
According to the OECD, the annual cost of tuition fees for a bachelor degree in Australia is AU$5,638.
That's similar to Canada, Japan, Korea and New Zealand.
The United States is much more expensive at $10,338 but countries such as Denmark, Norway, Finland and Sweden have free university for their citizens.
What happened to the old policy to deregulate fees?
This was announced back in 2014 but the Government couldn't get this plan through the Senate.
So the policy was officially scrapped earlier this year.
Will universities lose some funding?
For the next two years, universities will have an efficiency dividend applied to them. That means they'll have to make cuts.
In the future, another chunk of funding will be made contingent on university performance in areas like student retention and transparency.
The precise details of how that will work haven't been made clear.
What other changes are there?
From next year, New Zealand citizens won't be eligible for a subsidised university place but they'll be able to get a FEE-HELP loan for the first time.
This won't affect those already enrolled in a course.
Funding will be provided for eight regional study hubs around the country and a program aimed at helping students from disadvantaged backgrounds will be guaranteed in legislation for the first time.
From next year, there'll be more Commonwealth support for students enrolled in approved diplomas, advanced diplomas and associate degrees at public universities.
Will all of this pass the Parliament?
Labor and the Greens oppose most of the higher education package.
So the Government will have to get the votes it needs from the Senate crossbench, which is no easy task.
It wants the measures passed and ready to go by the start of next year so will have to get this through the Parliament soon.