Parliament

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

 

Average student loan debt skyrockets

Average student loan debt skyrockets

Monday 10 Jan 2005

Deborah Coddington - Press Releases - Tertiary Education

The average student loan debt has skyrocketed by 22 percent since Labour came to power, ACT Education spokesman Deborah Coddington revealed today.

Miss Coddington today released new information obtained from written parliamentary questions that shows the average student loan debt has increased by $2,661.54 - from $11,885.84 at 31 December 1999 to $14,547.38 at 30 November 2004.

"These figures show that Labour has failed in its 1999 election promise to curb student debt. Under this Government it has gone from $2 billion to more than $7 billion," Miss Coddington said.

"Labour has let the student loan monster spiral out of control. A whole new generation of young New Zealanders will be laden with debt that will take years to pay off.

"Some graduates will find it difficult to pay off their loans while also paying Helen Clark's 39-cent envy tax. Many will simply leave New Zealand to escape the millstone around their necks."

Miss Coddington said older New Zealanders are also taking out student loans in significant numbers - loans that she predicts many will take to their graves. The MP encourages older New Zealanders who want to educate themselves, but suggests they should carry more of the cost themselves.

Figures also released show 4,713 people aged 60 and over had student loans at September 2004, compared with 2,413 in June 2002.

"The Government has failed to keep its promise to reign in student debt. Labour is set to get a roasting on the hustings this year by the more than 400,000 students and former students who now hold student loans," Miss Coddington said.

ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election