It's the seemingly inevitable cost that goes with being handed a university degree, but two Canberrans have done their bit to save well-dressed students money on graduation day.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
As the debate over deregulation and soaring degrees costs continues around the nation, Australian National University alumni Eric Liu and Haosi Zhang have started their own business selling discounted academic gowns.
Their challenge to the established market appears to have forced a 30 per cent price cut from the University of Canberra.
Mr Liu, 25, now studying a masters in law, said the pair's UniGowns business began in July and was motivated more by saving students than making profit.
"Basically the idea came from some of our friends at the ANU and UC who were complaining about how ridiculously expensive [graduation regalia] is," he said.
"We think of it as a business to challenge the universities' monopoly and collapse the price."
A gown, hood and mortar board are a mandatory part of graduation ceremonies around the nation.
UniGowns sold about 30 of their $89 sets in the company's first outing at the UC graduations last month.
Mr Liu said the university has dropped their hiring price for the set from $130 to $110 as a result, which includes the mortar board to keep, but went further to offer a special $89.95 purchase at the October graduation.
According to the university website, those who want to purchase the three pieces individually from the university could pay between $465 and $585, depending on qualification, however discounts apply when purchased as a set.
Recently resigned UC Students' Association president Jacob White said the association actively promoted the products of the first competitor to the university, national distributor GownTown, when it entered the Canberra market earlier this year, and in principle also welcomed UniGowns.
"I could see no legitimate justification for having a single provider in a management that was monopolistic at the expense of students," he said.
GownTown UC graduation gear markets for $99, is delivered to students' homes and, like UniGowns, offers discounts for group purchases.
The UC Union, a wholly-owned entity of the university, has previously been the exclusive seller of the graduation wear.
Union chief executive Joe Roff could not be reached for interview this week, but said UC welcomed competition particularly where students benefit.
Mr Liu said UniGowns sets were now available for the ANU graduations in December, although ANU prices were already "much more reasonable".
