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.”


ends

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Electronica: Restoring The World’s First Recorded Computer Music

University of Canterbury Distinguished Professor Jack Copeland and UC alumni and composer Jason Long have restored the earliest known recording of computer-generated music, created more than 65 years ago using programming techniques devised by Alan Turing. More>>

ALSO:

Scoop Review Of Books: Almost Getting Away With Murder

The Black Widow by Lee-Anne Cartier: Lee-Anne Cartier is the sister of the Christchurch man found to have been murdered by his wife, Helen Milner, after an initial assumption by police that his death, in 2009, was suicide. More>>

Howard Davis: Triple Echo - The Malevich/Reinhardt/Hotere Nexus

Howard Davis: The current juxtaposition of works by Ralph Hotere and Ad Reinhardt at Te Papa perfectly exemplifies Jean Michel Massing's preoccupation with the transmigration of imagery in a remarkable triple echo effect... More>>

Scoop Review Of Books: Nō Tāu Manawa

Vaughan Rapatahana responds to Fale Aitu | Spirit House by Tusiata Avi: "fa’afetai Tusiata, fa’afetai, / you’ve swerved & served us a masterclass corpus / through graft / of tears & fears..." More>>

9 Golds - 21 Medals: NZ Team Celebrates As Rio 2016 Paralympic Games Close

The entire New Zealand Paralympic Team, led by kiwi sprinter and double gold medallist Liam Malone as flag bearer, are on the bus to the Maracanã Stadium in Rio de Janeiro for the Closing Ceremony of the Rio 2016 Paralympic Games. There, they will celebrate the fantastic successes of the past 10 days. More>>

ALSO:

New Zealand Improv Festival: The Festival Of Moments To Return To The Capital

The eighth incarnation of the New Zealand Improv Festival comes to BATS Theatre this 4-8 October , with a stellar line-up of spontaneous theatre and instant comedy performed and directed by top improvisors from around New Zealand and the world. More>>

ALSO:

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Education
Search Scoop  
 
 
Powered by Vodafone
NZ independent news