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Tertiary Savings Scheme Terrible News

10 May 2005

Tertiary Savings Scheme Terrible News for Students

Trevor Mallard’s steps towards establishing a Tertiary Education Savings Scheme are nothing but bad news for students, according to OUSA president Steven Sutton.

“Student Debt is $7billion and counting, the number of students receiving a living allowance has plummeted, and now the government is trying to pass the buck on to hard-working families. Is that really the best they can do?” asked Mr. Sutton.

If implemented, the Tertiary Education Savings Scheme will force the current generation of graduates to decide between paying off their own student loans and contributing to a savings scheme so their children won’t be burdened with debt.

“This is at the same time that they’re probably going to have to support their parents in retirement” mused Mr. Sutton.

“Labour already pushes the ridiculous line that students should live out of their parents’ pockets until they are twenty-five, and this scheme will just allow the government to further shirk their responsibilities to students and leave families in the lurch.”

Mr. Mallard’s savings proposal will have no impact whatsoever on the current student debt crisis, as the scheme will not come into effect for two decades.

“The only way that the student debt situation is going to be eased is if the government recognises one simple, reasonable point: students have the same rights to a living allowance as all other New Zealanders do” concluded Mr. Sutton.


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