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

 

Thank you very much for your high student debt…


Thank you very much for your high student debt…

Student Debt hits $8 Billion

Student debt today hit $8 billion dollars. OPSA will be issuing its own ‘money’ tomorrow – “redeemable Sept 17” to observe the occasion.

“This debt will have an outrageous effect on the country. There will be a flow on cost to services supplied by graduates, and drive the cost of living higher. The current brain drain overseas will worsen” said OPSA President, Rachel Dibble.

The $8 billion debt milestone comes just one week after a Colmar Brunton poll was released showing that 74% of New Zealanders believe more students should receive a student allowance; Three weeks previously, a similar Colmar Brunton poll found that 76% of New Zealanders think the student loan interest rate is too high.

There are 3 key drivers of debt:- Fees, Allowances (or rather lack of), and Interest. None of the major parties have policy that will decrease this debt.

“Fees are still rising as we go to the polls - Under National fees increased 12% per annum; under Labour this has slowed dramatically – but they are still increasing. – we need fees to be decreasing…” said Rachel Dibble.

The best offer from the two main parties is the welcome wiping of interest:

The interest component of loans means a lower income worker (eg a nurse) can end up paying more for their education than a high income worker who can pay off their debt more quickly (eg a doctor). In reality, many current graduates will die before they have paid their debt off.

“OPSA welcomes the proposed dropping of interest, and encourages voters to elect a government who will meet the country’s education needs…” said Rachel Dibble.


© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

NZSP: NZSO To Perform Beethoven’s Famous Fifth Live From Wellington

New Zealanders can enjoy two free live-streamed performances by their national orchestra this month, beginning with Beethoven’s beloved Fifth Symphony . The New Zealand Symphony Orchestra will play the “da-da-da-dah” masterpiece live on stage from ... More>>

Horowhenua: Matariki Shines Bright At Te Awahou Nieuwe Stroom

Te Awahou Nieuwe Stroom is open again for visitors. And the first thing people will see when they walk into the gallery is a stunning image of the Matariki star cluster – part of a deep space photo exhibition. More>>

 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 


 
  • Wellington
  • Christchurch
  • Auckland