Parliament

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

 

Student interest astronomical

Labour
2000 web siteStudent loan borrowers have paid more than $76 million in interest this year alone, Labour associate education spokesperson (tertiary) Steve Maharey said today.

Steve Maharey said the interest debt mountain was further evidence of how huge the burden of interest was on students. Since the student loan scheme began in 1992 - nearly quarter of a billion dollars of interest had been repaid.

"It is figures like this that lead to Labour developing our policy of no interest on student loans while full-time and other low income students are still studying," Steve Maharey said.

"While the Government figures have not differentiated between interest paid by students who are still studying and interest paid by former students, there is little doubt that Labour's policy will make a significant difference to these shocking debt levels.

"Total student debt is more than $3.44 billion and growing. Yet the Government treats it as an asset!

"Labour is totally committed to lowering the costs of tertiary education starting off with a fairer student loan scheme.

"National on the other hand is refusing to acknowledge that interest is a problem. Instead it prefers to defend its lack of action on this issue by saying that providing interest relief would be unfair on the 30% of full-time students whose 'mums and dads can afford to pay for them' while they are studying.

"Labour says it is unfair to mortgage the lives of nearly 300,000 young New Zealanders when they are trying to get themselves an education. For example a former dental student - now working in the public health system, has such a huge loan that the compulsory repayments do not even cover the interest she is accruing and as a result she is leaving the public health system for a private practice," Steve Maharey said.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…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