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Labour acknowledges disastrous debt consequences

Labour loan policy acknowledges disastrous consequences of debt.

All New Zealanders should be pleased at the signs from the Labour Government of an increased emphasis in addressing the consequences of a heavily indebted population.

Labour's loans policy to write off interest for all those who stay in New Zealand is an admission that the student loan scheme does contribute to the brain drain and that debt affects New Zealanders in other less obvious ways.

The labour loan policy announcement is perhaps the biggest promise to lessen the impact of student loans on former and current students ever made.

The change if effected could also be one of the most significant changes to the loan scheme since it was introduced.

"The good thing is that this does appear to be a without strings attached offer, former and current students will see massive benefits in this policy." Says Matthew Davies, Aotearoa Tertiary Students Association president


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