Australian figures on soaring student debt mirror NZ

Joint Media release: 18 July 2013

Australian figures on soaring student debt mirror New Zealand

Figures released by Universities Australia this week show that student debt in Australia has soared by almost 30 per cent between 2006-2012, raising concerns among New Zealand staff and students about similar levels of financial distress among tertiary students in New Zealand.

"Universities Australia's report on the dire state of student finances puts the severe financial stress that students experience - during and long after their studies - into stark relief. It also mirrors the Massey University/ Westpac survey last month that indicated insufficient funds affect one third of New Zealand students," says Pete Hodkinson, NZUSA President.

"All of the problems highlighted in the Universities Australia report also occur in New Zealand: students missing classes because of low-paid jobs they take to support themselves, often scrimping on food or other necessities and making do on a level of income that puts many below the poverty line."

TEU National President Lesley Francey says we have to take the government's cuts to student support more seriously.

"New Zealand tertiary staff see the same symptoms as our Australian counterparts - students who stop attending classes and submitting assignments because they are too occupied making ends meet".

NZUSA and TEU jointly stated: "Tertiary education is critical to the economy and creating jobs. This can't be funded by ever-increasing fees and pushing more students into borrowing though".

ENDS

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