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


Large Loan Debtors Not Alone

The number of students owing over $50,000 tripled in the ten months between August 1998 and June 1999 while the number of students owing between $40,000 and $50,000 has more than doubled.

President of the Otago University Students' Association (OUSA), Steve Day, is outraged that the Government which has created this situation continues to hold onto power rather than giving someone else a chance to resolve the situation.

“Many of those students who now owe upwards of $50,000 are living here in Dunedin and once they leave Uni. they may not be able to get a mortgage, they may delay having a family or committing to marriage. They may leave the country, not because of high taxes but because high debt.” Said Steve Day.

“The interest on a loan of $50,000 is $70 per week. Quite a lot of money for someone with no income, full time study and no access to a living allowance equivalent to the dole.

Other facts to emerge from the government’s most recent financial report on Student loans include:

Total student debt is forecast to more then triple to $11,000,000,000 in the next fifteen years.

Pacific Island students need to borrow more than $500 per year more than the average student.

Ethnicities other than pakeha are finding debt grows faster. While the amount per year borrowed by pakeha students grew between 1997 and 1998 by 3.2% the amount borrowed by students of other ethnicities increased anywhere between 4.1% and 9.2% depending the ethnicity to which they belonged.

“We need to independently review the loans scheme now and that analysis needs to include a gendered and multicultural analysis of how debt affects our citizens.” Said Steve Day. “We need a new approach to tertiary funding and policy.”


© Scoop Media

Culture Headlines | Health Headlines | Education Headlines


2021: NZ To Host Women’s Rugby World Cup

New Zealand’s successful bid to host the 2021 Women’s Rugby World Cup will raise the profile of the game locally and provide a valuable economic boost for the game, Minister for Sport and Recreation Grant Robertson says. More>>


Max Rashbrooke Review: Mahler 7 - NZSO

Gustav Mahler’s Seventh Symphony may be one of the least well-known of its ilk, but Edo de Waart and the New Zealand Symphony Orchestra made a compelling case for a reassessment. They showed us a work of immense variety, surprising contrast and delicate shades of light and dark. More>>

Howard Davis Review: Strange Overtones - David Byrne's American Utopia Tour

Scotch-born singer-songwriter David Byrne starts each show on his latest world tour stroking a pink brain as he sits alone at a table in a gray three-button Kenzo suit singing a song called Here from his latest album American Utopia. More>>

Governor-General's Speech: Armistice Day 100 Years On

The response was more muted amongst our soldiers at the Front. Many received the news quietly... There was no cheering. The chaps didn’t get excited. It was just a matter of relief. We didn’t celebrate at all. More>>


Auckland Fringe Programme: A Celebration Of The Bizarre And Beautiful

Building on a huge 2018 programme that saw 492 creatives take 81 events for ventures around the city for a total of 347 performances, Auckland Fringe returns this summer, running February 19 – March 3, 2019. More>>



  • Wellington
  • Christchurch
  • Auckland