4000 Students Say Interest On Loans Must Go
4000 signatures calling for an end to interest above the rate of inflation on loans while studying were presented to Labour Tertiary Education Spokesperson Steve Maharey by the President of the University of Canterbury Students’ Association, Darel Hall, this afternoon.
The petition was supported by the Lincoln University Students’ Association and the Christchurch Polytechnic Students’ Association.
“Students around the country are advocating for a fairer system of student loans, and this is a major part of that. There will be a march in Dunedin tomorrow and the Victoria Students’ Association in Wellington has plans for August 4”.
Some of the key issues are the impact on students of debt, the brain drain, and international competitiveness. The most current research available shows that on average women will take 51 years to pay their loan debt, and men 17 years; that those with higher loans are most likely to leave New Zealand; and that New Zealand is losing economic ground to other jurisdictions that have fairer systems, such as Australia.