Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Students Caught In Debt Trap

Students Caught In Debt Trap

New Zealand First education spokesperson Brian Donnelly is calling for the Government to urgently change the student loan scheme because it is sentencing young people to a lifetime of debt.

“The current $7 billion of student debt is indicative of a system that locks students into a debt trap, altering their life choices for years to come at a huge cost to the social and economic fabric of New Zealand.

“Much of this $7 billion will never be recovered. Already the Government has a current debt write off provision which means more than $1 billion of this debt has already gone down the gurgler.

“There are plenty of commonsense solutions to ebb the draconian nature of the current student loan scheme. The greatest contributor towards student debt is borrowing for living expenses. Immediate moves need to be made towards implementing a universal student living allowance. At the same time, incentives for over-borrowing would be reduced if students were required to pay an interest rate equivalent to the Consumer Price Index whilst they are studying.

“This would lead to a win-win situation by removing the need for students to borrow to pay for living expenses and current write-off provisions of interest would be unnecessary.

“This Government has given nothing but tokenism to the rising crisis of student debt in this country. Escalating debt must be eased now before it is too late,” said Mr Donnelly.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news