Education Policy | Post Primary | Preschool | Primary | Tertiary | Search


Indebted students bankrupt themselves

Mon, 02 Sep 2002

Student debt causes students to bankrupt themselves.

Latest figures from the IRD show a marked increase in student loan debt written off due to bankruptcy.

The amount of student debt written off has increased over $1 million, from $2.8 million in 2001, to $3.92 million in June 2002. This takes a toll on indebted graduates, forcing them to bankrupt themselves, says University of Canterbury Students’ Association (UCSA) president Richard Neal.

“This is another clear indication of the impact of student loans on young New Zealanders,” said Neal. “The government is witnessing something that has been predicted for years by student advocates: the unsustainable outcome of high fees and student loans.

“The sharp increase is the beginning of a growing and alarming trend in New Zealand. Bankruptcy is an all too powerful reminder of a system that could be easily cured by full student allowances and lower fees,” said Neal.

Students and recent graduates would be expecting the government to take heed of the warning signs, said Neal. “Very little research had been done in the area of bankruptcy and student loans.”

However, students should be wary of going down the path of bankruptcy, warned Neal “It limits options of overseas travel and future business opportunities.”


For further information contact:

University of Canterbury Students' Association
President: Richard Neal
Work (03) 364 26 52 ext: 3934
Cell: 027 276 1107

© Scoop Media

Culture Headlines | Health Headlines | Education Headlines


Howard Davis: Emerald Fennell's Promising Young Woman'

The Guardian needed not one, but three reviews to do justice to Fennell's unsettling approach, which indicates exactly how ambiguous and controversial its message really is. More>>

Howard Davis: Jill Trevelyan's Rita Angus

Although Angus has become one of Aotearoa’s best-loved painters, the story of her life remained little known and poorly understood before Jill Trevelyan's acclaimed and revelatory biography, which won the Non Fiction Award at the Montana New Zealand Book Awards in 2009, and has now been republished by Te Papa press. More>>

Howard Davis: The Back of the Painting

Painting conservators are the forensic pathologists of the art world. While they cannot bring their subjects back to life, they do provide fascinating insights into the precise circumstances of a painting's creation, its material authenticity, and constructive methodology. More>>

Howard Davis: Black Panthers on the Prowl

A passionate and gripping political drama from Shaka King, this is an informative and instructive tale of human frailty that centers around the charismatic Chicago Black Panther leader Fred Hampton, who was murdered at the age of twenty-one during a police raid. More>>

Howard Davis: Controlling the High Ground

Stephen Johnson's raw and angry film not only poses important questions with scrupulous authenticity, but also provides a timely reminder of the genocidal consequences of casual bigotry and xenophobia. More>>

Howard Davis: Dryzabone - Robert Conolly's The Dry

After the terrible devastation caused by last year’s bushfires, which prompted hundreds of Australians to shelter in the ocean to escape incineration and destroyed uncountable amounts of wildlife, The Dry has been released during a totally different kind of dry spell. More>>

Howard Davis: Hit the Road, Jack - Chloé Zhao's Nomadland

Nomadland is perhaps the ultimately 'road' movie as it follows a group of dispossessed and disenfranchised vagabonds who find a form of communal refuge in camp sites and trailer parks after the economic contraction of 2008. More>>



  • Wellington
  • Christchurch
  • Auckland