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

 

Student loan problems highlighted

Labour
2000 web siteOtago University students have highlighted a problem which the Government should have started investigating years ago, Labour associate education spokesperson (tertiary) Steve Maharey said.

Steve Maharey said the survey of bank managers and loans officers which showed that more than half of them had refused a mortgage or loan with student loans being a factor, raised major concerns for a generation of young New Zealanders.

"The Government has avoided doing this kind of research for fear of what it would discover," Steve Maharey said.

"What Otago students have revealed is that the burden of student loans is impacting on students being able to get on with their lives. It is a problem that is going to grow along with the debt levels of thousands of young New Zealanders unless there is a change in government and a change in the student loan scheme.

"Under Labour, full-time and other low income students will pay no interest on their student loan while they are still studying. After that, borrowers will not pay any base interest on their loan balance until they are earning at least $25,000. Base interest will be gradually phased in for those who earn between $25,000 and $30,000.

"This is the start to our commitment to lowering the costs of tertiary education.

"We are also planning a thorough review of the loans system including investigating the economic and social impact of high student debt levels and whether fear of such debt is having perverse effects on participation in further education and training and on decisions about staying in New Zealand after graduation.

"The Otago survey shows that there is a definite need for such a review," Steve Maharey said.

© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Mayor's Statement: Death Of Actor Ray Henwood

“Ray was an absolute stalwart of the Wellington drama scene. His contribution to what we have today cannot be understated,” the Mayor says. “His first love was stage work and we are thankful he graced the stage in Wellington. He loved the city and we also loved him." More>>

Sport: Hay Named As All Whites Head Coach

Former All Whites captain Danny Hay, who played for the national team for 11 years, playing in 31 A internationals, was announced as the 18th Head Coach of the national team today in Auckland. More>>

Howard Davis Review: Tarantino's Pitch-Perfect Once Upon a Time … in Hollywood

Welcome back to the violent and misogynistic, yet always entertaining world of Quentin Tarantino, who this time around focuses his dyspeptic lens on Tinseltown's pimply backside. More>>

Westpac Exiting Cake Tin: Stadium Announces Naming Rights Agreement With Sky

Wellington Regional Stadium Trust (WRST) and Sky Network Television Ltd (Sky) have announced a new partnership that will see Sky secure the naming rights of the Stadium from 1 January 2020. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

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