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


Bigger Student Loans Driving Graduates Overseas

Bigger Student Loans Driving Graduates Overseas

The New Zealand University Students’ Association (NZUSA) is describing today’s news that graduates overseas have much bigger debts than those at home as major evidence linking student loans to a brain drain of our best and brightest.

“The $7000 average gap in debt between those who have left and those who have stayed shows that big debts are a factor in driving much needed graduates overseas, “ said 2003 NZUSA President Fleur Fitzsimons.

Overseas borrowers owed an average of $19,880 compared to $12,980 for resident borrowers, according to the figures released by Statistics New Zealand.

“Successive governments have tried to deny that the loans scheme contributes to workforce shortages, “ said Fitzsimons. “This new information from the Data Integration Project shows that government needs to come out of denial and start fixing this major problem.”

With higher borrowing in post-graduate study, it looks likely that the big debtors leaving New Zealand are the ones most needed to drive the knowledge economy that the government wants us to become.

“It’s no coincidence that graduates overseas have much bigger debts. They are leaving to work in high wage economies overseas rather than stay in New Zealand and barely cover their interest charges,” said Fitzsimons.

“The government needs to scrap the loans scheme and give these graduates a reason to come home. This new information only adds to the growing mound of evidence that the loans scheme is a disaster.”

© 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>>


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:
Jenny Abrahamson's John & Charles Enys: Castle Hill Runholders, 1864-1891

This volume will be of interest to a range of readers interested in the South Island high country, New Zealand’s natural environment, and the history of science. More>>