I have to say those prices still seem very high to me, that's 10.000$ a year. Maybe salaries are just outrageously higher in Australia than where I live, but I find it hard to believe most artists can comfortably pay back 1000$ a month. At least in Germany that would be a big ask even for a fresh engineering graduate (source: I'm a fresh engineering graduate).

For comparison, student loans are a problem in the UK as well to some extent, where tuition is ~9000£ a year. Student loans get forgiven after 30 years and most graduates will never pay backtheir loans in full because they won't be done after 3 decades.