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Democrats Want Student Loan Scheme Scrapped

Thursday, 29 April 2004

Democrats Want Student Loan Scheme Scrapped

Democrats believe the time has come for Government to accept the student loan scheme is an unsustainable failure, which should be scrapped.

"The capital requirements of all our tertiary institutions can and should be provided debt free, alongside the introduction of a student cost-of-living allowance" leader Stephnie de Ruyter said today.

"The only Party to consistently oppose the Student Loan policy since its inception has been the Democrat Party" Ms de Ruyter said.

"Far from being the access route to a better standard of tertiary education, student debt has become a shortcut to despair and dislocation for a growing number of New Zealanders" continued Ms de Ruyter.

"The original intent of expanding opportunities for New Zealanders has predictably resulted in a debt grip which in real terms is debilitating the skill base our economy desperately needs".

"Unless the scheme is abandoned immediately, student debt will exceed $20 billion within 15 years. Even if the interest remains at current rates, which is most unlikely, the interest accruing will see students owing in excess of $60 billion. Imposing such an impossible burden on our students is economically unsustainable and morally unjustifiable. The student loan scheme must be scrapped" concluded the Democrat Leader.


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