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Young Labour Welcomes No Interest On Loans

Young Labour Welcomes No Interest On Loans

Young Labour welcomed today's announcement by Labour Leader Helen Clark on major improvements to student support policy in the tertiary sector.

"This is a major step forward for all students and graduates. Never again will people have to worry about interest making their loans grow out of control.

"The policy is going to put a huge dent in repayment times for graduates and will encourage them keep their skills in New Zealand.

"The debt burden needed to be tackled and this government has proven it is committed to ensuring the country has the skills it needs to build our future

"Labour has shown that it is committed to investing in New Zealand's future, rather than giving our future away with tax cuts. Young Labour is looking forward to taking that message out to the youth of New Zealand.

"New Zealanders should remember the dark days of the 1990's where the National government allowed fees to spiral out of control at an average rate of 15% per year coupled with interest accruing while they studied. The result was thousands of students living on the breadline and a generation in debt.

"Students and their parents now face a choice.

"They can vote for Labour, who are committed to keeping tertiary education affordable and investing in our future.

"Or, they can vote for a National Party that has promised to allow fees to rise, and to introduce a cap on tertiary funding.

"By removing interest paid on student loans, Labour has shown what can be done by investing in the future rather than giving the future away in tax cuts." Mr Roberts concluded.


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