Education Policy | Post Primary | Preschool | Primary | Tertiary | Search

 

Govt Should Match Westpactrust Student Loan Deal

Government Should Match Westpactrust Student Loan Deal

The New Zealand University Students' Association is calling on the government to cut student loan interest rates to better a deal WestpacTrust is offering graduates.

WestpacTrust announced today its graduate loan package that will make up to $20,000 available to students to pay off their government loans. The WestpacTrust package offers low interest rates over a three-year period. If the loan is not paid within that period the rate will revert to the interest rate charged by the government plus 1% - on current rates that would total 8% per annum.

"If a business like WestpacTrust can charge graduates such low interest rates, then why can't the so-called student friendly government cut their interest rate from 7%?" said NZUSA Co-President Andrew Campbell.

"Helen Clark told parliament yesterday that the country needs more educated and skilled people and that the government will do everything in its power to see that we have them. Here's one thing that the government can do immediately - stop charging interest on student loans."

"Students are still waiting to hear what the interest rate on student loans for the coming year will be. Anything less than a cut in interest rates will be viewed as a slap in the face by students in light of the WestpacTrust move".

NZUSA has some concerns about the new WestpacTrust graduate package and is advising students to investigate it very carefully before making any commitments.

"The scheme looks very generous on the surface. However only very highly paid graduates with small student loans will be able to pay off $20,000 in under three years," said Campbell. "We don't want to see graduates stuck with a debt to WestpacTrust after three years with harder repayments than in the public scheme".

NZUSA will be seeking a meeting with WestpacTrust to discuss the details of their graduate package.

ENDS


© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 
Legendary Bassist David Friesen Plays Wellington’s Newest Jazz Venue

Friesen is touring New Zealand to promote his latest album Another Time, Another Place, recorded live at Auckland's Creative Jazz Club in 2015. More>>

Howard Davis Review: The Father - Descending Into The Depths of Dementia

Florian Zeller's dazzling drama The Father explores the effects of a deeply unsettling illness that affects 62,000 Kiwis, a number expected to grow to 102,000 by 2030. More>>


Howard Davis Review: Blade Runner Redivivus

When Ridley Scott's innovative, neo-noir, sci-fi flick Blade Runner was originally released in 1982, at a cost of over $45 million, it was a commercial bomb. More>>

14-21 October: New Zealand Improv Festival In Wellington

Imagined curses, Shibuya’s traffic, the apocalypse, and motherhood have little in common, but all these and more serve as inspiration for the eclectic improvised offerings coming to BATS Theatre this October for the annual New Zealand Improv Festival. More>>

ALSO:

Bird Of The Year Off To A Flying Start

The competition asks New Zealanders to vote for their favourite bird in the hopes of raising awareness of the threats they face. More>>

Scoop Review Of Books:
K Emma Ng's Old Asian, New Asian

This book, written by a young second-generation Chinese New Zealander, gives many examples of the racism that Asian New Zealanders experience. More>>

 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION