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

 

Student Debt Reaches$10 Billion Millstone


Student Debt Reaches$10 Billion Millstone

 

Debt calculators on student websites all over the country tick over at 10am tomorrow to $10 Billion indicating the cumulative millstone hanging around the necks of New Zealand tertiary students.

“The Government just signed a free trade deal with China worth $350 million a year. That’s the equivalent of 28.5 years worth of value in current student debt and the scary thing is that it keeps growing under the government’s policies with no sign of relief to come,” says ASA President, Brad Heap.

“Until such time as students receive a sensible level of student allowance you’ve effectively mortgaged the country and its future for the space of most home loans. The flow-on effect will be graduates moving out into the market and passing on the cost of their education to the rest of the economy or worse, continuing the brain drain overseas.

“Wouldn’t it make more sense to use some of the massive budget surplus towards properly subsidising the tertiary education sector rather than continuing with the failed policy of user pays? All the government has done is produce a set of highly-educated second-class citizens who won’t meet eligibility criteria for mortgages or bank loans, who will spend the rest of their lives trying to pay off their massive personal debts. It’s sort of creative accounting – moving the debt off the state and onto students and their families and while we continue to argue about the philosophy, the reality is the meter keeps on running.”


ENDS

 

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Another Leader Exiting: Statement From Peter Dunne

I have concluded, based on recent polling, and other soundings I have been taking over the last few weeks, that, the volatility and uncertainty notwithstanding, there is now a mood amongst Ōhāriu voters for a change of MP, which is unlikely to alter...

“I have therefore decided that it is time for me to stand aside, so the people of Ōhāriu can elect a new electorate MP. More>>

 

Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>

ALSO:

Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>

ALSO:

Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... More>>

ALSO:

Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. More>>

ALSO:

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election