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

 

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>>

ALSO:

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>>

ALSO:

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>>

 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 
 
  • Wellington
  • Christchurch
  • Auckland