$100,000 degrees were the topic of the day when Federal Member for Newcastle Sharon Claydon visited the O-Week festivities at the University of Newcastle this week. Ms Claydon said there was enormous anxiety about the impact of the Turnbull Governments university deregulation plan on the costs of studying. The governments plan would Americanise our universities and put higher education out of reach for many thousands of young Australians, Ms Claydon said. The 2016 budget shows the Turnbull Government has still booked in a 20 percent cut to university funding. Sadly, it is students that will be forced to pay the price with a lifetime of debt. Ms Claydon said young people had every right to feel betrayed by the Turnbull government. University of Newcastle students are telling me theyre finding it hard enough to just get by as it is, Ms Claydon said. Young people are already facing rising rents and fading hopes of home ownership because the government is refusing to act on excessive tax concessions for disproportionately older property investors. At the same time the government hasnt lifted a finger to protect the penalty rates that so many students rely on to survive. Ms Claydon said the Turnbull Government should choose to invest in education, rather than spending $50 billion of public money on tax cuts for big business. Investment in education is critical to building a strong economy and ensuring that young people have the chance to achieve their dreams. Its obvious that hard work and talent should decide whether you go to university, not your bank balance.