Minister Confused - Again
The Minister of Tertiary Education appears to be confused about Student Loan repayment times released by APSU Student Union.
In the report issued in May 1999, The Student Debt Casebook, the National Student Bodies explained in detail that 51 years repayment time was based on certain criteria. These included the parameters of the Loan Scheme remaining as they were, no voluntary repayments being made and wages remaining static. In other words it is a snap shot of what existed at that time.
"The Minister has obviously failed to read the report correctly otherwise the rash statements he is making would not have seen the light of day," said President John Barkess. "The facts are that under the conditions that existed then, a Student Loan of $20,000 would take a female 51 years to repay."
"The Minister seems to think that changes yet to be implemented will reduce repayment time, and we really hope they will. The Minister also seems to be factoring in voluntary repayments, yet they have no basis for accurate analysis as the payments are voluntary and subject to individual whims.
"Our figures are correct and we will vigorously defend our findings."
"To accuse us of '…playing with the truth…' is a gross abuse of position. The Minister has not taken the time to speak to us or to show us this wonderful new TESLA model. We challenge him to meet face to face with us and make the same accusations."