Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Student Loan Debt Hits $4 Billion

Student Loan Debt Hits $4 Billion

On the eve of budget week the New Zealand University Students’ Association (NZUSA) is calling on tertiary institutions to accept the government’s fee freeze offer after it has been revealed that total student loan debt has passed the $4 billion dollar mark.

“Students have carried the burden of debt for far too long. This week’s budget announcement provides the opportunity for tertiary institutions to stop this situation worsening even further,” said Andrew Campbell, NZUSA Co President.

In response to a written parliamentary question (attached) by Ian Ewen-Street the Associate Minister of Education (Tertiary), Steve Maharey, confirmed that total student loan debt exceeded $4 billion in March this year. The student loan scheme annual report released late last year forecasts student loan debt to grow to $5 billion by 2003 and $15.5 billion by 2015.

“High tuition fees and the lack of universal living allowances are a barrier to participation in tertiary education. Access to education will be even further limited if fees go up as a result of institutions refusing to accept the government’s offer.”

“While we believe that tertiary institutions should accept any reasonable offer by the government, there does needs to be a serious reinvestment into tertiary education sooner rather than later,” said Campbell. “We are anxiously awaiting the final report of the Tertiary Education Advisory Commission that deals with funding, and are hoping that this will signal a move to considerably more investment in public tertiary education.”

“To reduce student debt levels fees need to come down rather than just being frozen at already high levels, and we believe that the government cannot rely on one-off fee freeze offers for much longer. In the meantime though, tertiary institutions must come to the party in the coming months and stop fees rising to unacceptably high levels,” said Campbell.


ENDS
For further information:
Andrew Campbell, NZUSA Co-President
Cell: 025 86 86 77 Wk: 04 498 2500

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

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:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news