The University of Newcastle will see significant cuts to funding proceeding the release of the federal government's mid-year economic statement.
The MYEFO report revealed $2.1 billion in cuts to universities, a cap on university places, and a $10, 000 drop in the HECS repayment threshold.
Treasurer Scott Morrison says a third of degrees are never completed, a quarter of loans never repaid and funding has grown over the last five years.
However, Federal Member for Newcastle, Sharon Claydon believes the government is pilfering from UON students to fund tax cuts for big businesses.
'The government has capped the number of university places available. These cuts will see students miss out on university places, and ultimately compromise the quality of teaching and research that universities are able to offer.
'It's a very different financial climate to what universities were like in the previous generation. There are few if any students that aren't working multiple jobs as it is in order to keep themselves at university.'
Universities Australia says the Commonwealth Grants scheme freeze will give fewer people the chance to pursue a higher education.
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