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

 

Better than expected loan write-offs good news

Better than expected loan write-offs good news for poor students

The New Zealand University Students’ Association (NZUSA) is today welcoming the government announcement that $64.7 million has been written off student loans in the first year of its no interest while studying policy, which is more than officials or NZUSA had anticipated.

“It is positive to see that for the first year in over a decade the costs of studying for most students actually decreased,” said Andrew Campbell, NZUSA Co-President.

“It is worth remembering however that the costs of studying are still enormously high. Interest only makes up one component of loan borrowing. The government has yet to do anything in relation to living allowances which made up $242.1 million of borrowing last year,” said Campbell. “Parental income thresholds for means testing of allowances have not been adjusted for inflation since they were introduced in 1992.”

The information about loan write-offs comes at a time in which this policy is being analysed by the Tertiary Education Advisory Commission (TEAC) for its cost effectiveness.

“Students will reject any recommendation by TEAC that increases the cost of study,” said Campbell. “We believe that TEAC has not taken into account that many students are now borrowing through the public loan scheme rather than other methods of borrowing or relying on too many part time jobs. NZUSA figures show that the median student debt to parents in 1998 was $2007 and through bank loans $1997. It is positive to see that students are transferring that debt to the public loan scheme which has fairer terms attached to it,” said Campbell.

“It is disappointing that as students are just receiving the benefits of the no interest on loans policy that TEAC is looking at ripping it off them,” said Campbell. “We will fight to see student friendly policies retained and strengthened.”

ENDS

For further information please contact
Andrew Campbell, NZUSA Co-President
Wk: 04 498 2500 Cell: 025 86 86 77



© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Joseph Cederwall Review: NZSO Plays Bach And Ellington

The NZSO’s Shed Series returned for 2019 with the aptly titled REBIRTH at Shed 6 on Friday 8th. This theme dealt with the way in which music constantly evolves and changes, with styles and musical periods reborn in completely new and different ways. More>>

Howard Davis Review: Voulez-Vous Couchez Avec Moi? - C'est Chic, Ça Colette!

Starring the ravishingly vibrant Keira Knightley in the title role, Colette is a fairly pedestrian paint-by numbers biopic - which is a little disappointing, given that its cross-dressing and pansexual protagonist lead anything but a dull life. More>>

Wellington Repertory Theatre: New Season Includes Royal Hunt of The Sun

“The objective behind our ambitious 2019 season is to expand our offering to a broader range of Wellingtonians. It’s the first time in over a decade that we’ve produced four shows, and the first time we will be performing at the Hannah Payhouse,” says Oliver Mander, WRT’s President. More>>


Howard Davis Review: The Revenants - They Shall Not Grow Old

Jackson has toiled laboriously in the trenches of the digital revolution for decades, with his two turgid Tolkien trilogies constantly pushing the envelope in terms of computer-generated entertainment and providing his latest project with sufficient combat experience to warrant serious Oscar consideration for its remarkable technical achievements. More>>


Unseen Let It Be Footage: Peter Jackson Making "The Ultimate Beatles Film"

Jackson's new film will be compiled from fifty-five hours of never-released studio footage of The Beatles recording their final album Let It Be in January 1969. More>>


NZCT Grants More Than $150,000 to Community Sports

NZCT has approved grants to the Tauranga Boxing Academy, provided a new lease of life to old yachts, benefitted sports at Tiniroto School, and helped to upgrade Christchurch City BMX Club track. More>>

 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 
 
  • Wellington
  • Christchurch
  • Auckland