Labour's Tertiary bribe unprecedented foolishness
Labour's Tertiary bribe unprecedented foolishness- ACT
Rodney Hide Tuesday, 26 July 2005 Press Releases - Tertiary Education
Labour's attempt to outbid National by slashing the interest off student loans for people who stay in New Zealand will encourage students to get deeper and deeper into debt, ACT Leader Rodney Hide said today.
"Labour's existing policy of no interest while studying has seen the debt explode from $3 billion to $7 billion.
"Worse, the average debt has jumped 22% from $11,885 to $14,491.
"This is a bidding war started by National.
"It will cost taxpayers dearly and will leave students with massive debts
"What student won't take out a loan to the max.
"The best thing Labour and National could do for graduates - indeed all New Zealanders - is to give every hardworking Kiwi a decent tax cut now," Mr Hide said.