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

 

Thank you very much for your high student debt…


Thank you very much for your high student debt…

Student Debt hits $8 Billion

Student debt today hit $8 billion dollars. OPSA will be issuing its own ‘money’ tomorrow – “redeemable Sept 17” to observe the occasion.

“This debt will have an outrageous effect on the country. There will be a flow on cost to services supplied by graduates, and drive the cost of living higher. The current brain drain overseas will worsen” said OPSA President, Rachel Dibble.

The $8 billion debt milestone comes just one week after a Colmar Brunton poll was released showing that 74% of New Zealanders believe more students should receive a student allowance; Three weeks previously, a similar Colmar Brunton poll found that 76% of New Zealanders think the student loan interest rate is too high.

There are 3 key drivers of debt:- Fees, Allowances (or rather lack of), and Interest. None of the major parties have policy that will decrease this debt.

“Fees are still rising as we go to the polls - Under National fees increased 12% per annum; under Labour this has slowed dramatically – but they are still increasing. – we need fees to be decreasing…” said Rachel Dibble.

The best offer from the two main parties is the welcome wiping of interest:

The interest component of loans means a lower income worker (eg a nurse) can end up paying more for their education than a high income worker who can pay off their debt more quickly (eg a doctor). In reality, many current graduates will die before they have paid their debt off.

“OPSA welcomes the proposed dropping of interest, and encourages voters to elect a government who will meet the country’s education needs…” said Rachel Dibble.


© 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