Little is Right, Student Debt is Unnecessarily High
Little is Right, Student Debt is Unnecessarily High
The Taxpayers’ Union is backing Labour leader Andrew Little’s comments that under National student debt has risen unacceptably high. It is calling on the Government to reverse Labour’s disastrous policy of interest free loans which has resulted in tens of thousands of kiwi students getting loans they otherwise would have avoided. Taxpayers’ Union Executive Director, Jordan Williams, says:
“As Mr Little pointed out in his speech yesterday, when you make something free more people will take it up. Unfortunately Mr Little hasn’t seemed to click that by making borrowing money free, interest free loans have saddled students with more debt then they otherwise would have borrowed.”
"Instead of giving a hand-up for those who are unable to afford university, the student loan scheme is a universal benefit which transfers wealth from middle class taxpayers to tomorrow’s high earning lawyers, accountants and engineers. It’s backward welfare.”
“If Labour were genuine about reducing student loan debt, Mr Little would be calling for the reintroduction of interest on student loans and a clamp down on the criteria so that people who don’t need to borrow can't access the scheme."
ENDS