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

 


Student interest astronomical

Labour
2000 web siteStudent loan borrowers have paid more than $76 million in interest this year alone, Labour associate education spokesperson (tertiary) Steve Maharey said today.

Steve Maharey said the interest debt mountain was further evidence of how huge the burden of interest was on students. Since the student loan scheme began in 1992 - nearly quarter of a billion dollars of interest had been repaid.

"It is figures like this that lead to Labour developing our policy of no interest on student loans while full-time and other low income students are still studying," Steve Maharey said.

"While the Government figures have not differentiated between interest paid by students who are still studying and interest paid by former students, there is little doubt that Labour's policy will make a significant difference to these shocking debt levels.

"Total student debt is more than $3.44 billion and growing. Yet the Government treats it as an asset!

"Labour is totally committed to lowering the costs of tertiary education starting off with a fairer student loan scheme.

"National on the other hand is refusing to acknowledge that interest is a problem. Instead it prefers to defend its lack of action on this issue by saying that providing interest relief would be unfair on the 30% of full-time students whose 'mums and dads can afford to pay for them' while they are studying.

"Labour says it is unfair to mortgage the lives of nearly 300,000 young New Zealanders when they are trying to get themselves an education. For example a former dental student - now working in the public health system, has such a huge loan that the compulsory repayments do not even cover the interest she is accruing and as a result she is leaving the public health system for a private practice," Steve Maharey said.

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

NZ On Air TV Funding: More Comedy Comes Out Of The Shadows

Paranormal Event Response Unit is a series conceived by Jemaine Clement and Taika Waititi as a TV spin-off from their highly acclaimed feature film What We Do In The Shadows. More>>

ALSO:

Mars News: Winners Announced For The 2016 Apra Silver Scroll Awards

Wellington singer-songwriter and internationally acclaimed musician Thomas Oliver has won the 2016 APRA Silver Scroll Award with his captivating love song ‘If I Move To Mars’. More>>

ALSO:

Scoop Review Of Books: Salt River Songs by Sam Hunt

Colin Hogg, a longtime comrade of Sam, writes in his Introduction that, ‘There is a lot of death in this collection of new poems by my friend Sam Hunt. It’s easier to count the poems here that don’t deal with the great destroyer than it is to point to the ones that do.’ More>>

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>>

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Education
Search Scoop  
 
 
Powered by Vodafone
NZ independent news