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WINZ Problems Caused By Labour Policy - ACT

WINZ Problems Caused By Labour's Loan Policy
Student loan applications have dramatically increased this year under Labour's new interest free loan policy, says ACT youth affairs spokesman Muriel Newman.

Dr Newman said reliable sources in WINZ have confirmed her fears that student debt would skyrocket with Labour's 'borrow for free' policy.

"My sources have told me that while enrolment numbers are similar to last year, indications are that the number of students taking out loans will nearly double.

"This is placing huge pressures on the administration of loans yet Steve Maharey is blaming WINZ boss Christine Rankin, instead of Labours ill devised policy.

"Students are not having to think through the effects of their borrowing as interest is not being charged. Labour's policy is distorting their decision making.

"The level of student debt is now predicted to reach $6 billion by 2003. Under the old scheme this was not supposed to happen until 2005.

"Labour must take responsibility for the consequences of its policy. Its 'borrow for free' scheme will leave us a legacy of debt," Dr Newman said.

Ends

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