Wednesday, 29 June 2016, 9:30 am Press Release: NZUSA
No Surprises in Statistics NZ Data
The Household Net
Worth Statistics released yesterday by Statistics New
Zealand are no surprise to the New Zealand Union of Students
Associations.
President Linsey Higgins says this data is
aligned with the information that the organisation already
had, and has got worse since due to further limitations on
allowances and their replacement with loans.
“We know
from our own research that a large number of students are
graduating with large loans and this is stopping them from
getting started in life”.
NZUSA believes that crippling
young people with growing levels of educational debt is a
sure fire way to cost the government more in the long run.
“We know that 70% of students think their debt will
affect their ability to buy a house and 36% think it will
affect their decision to have children. Students believe
their debt will impact on their ability to save for
retirement with only 5% not seeing this as an issue.”
A
high level of debt to asset ratio makes it hard to get
started, especially when graduate wages remain low and
housing prices spiral out of control.
“If this
government cares about supporting all people to retire well,
then it needs to take a long hard look at free tertiary
education. We know free tertiary education has set up older
generations with a prosperous work life and a good
retirement. It’s inter-generational theft if we deny
today’s students the same”.
NZUSA is the New Zealand Union of Students' Associations, the national body that represents New Zealand's students' associations and the interests of New Zealand's 400,000 students at universities, polytechnics and in trades training.
We conduct original research, advocate to Government and through the media, and support New Zealand's students' associations to be more effective on behalf of their members. We advocate alongside Te Mana Akonga – The National Māori Students' Association, and Tertiary Women New Zealand – The NZUSA Women's Caucus.
Since 1929, we've believed in a society rich in opportunity, where anyone from anywhere can become any thing. We support accessible, affordable quality public tertiary education.
Contact NZUSA - New Zealand Union of Students' Associations
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