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


NZ can’t afford not to wipe student loan interest

NZ can’t afford not to wipe student loan interest

Treasury papers released today by Michael Cullen prove that the no interest on loans than policy is both affordable and realistic.

“Student debt hit eight billion dollars today and the reality is New Zealand can no longer afford to ignore student debt. No interest on loans would go along way towards addressing the student debt monster,” said Camilla Belich, Co-president of the New Zealand University Students’ Association (NZUSA).

“Treasury’s initial predictions were based on an unrealistic 95% of students taking up loans. People generally steer clear of getting into debt when it they can avoid it, students are no exception,” said Belich.

“It is no surprise to us that Treasury estimated that 95% of students would take up interest free loans. In 2000, they predicted the 80% of students would borrow by 2003 when Labour introduced no interest on loans while studying. What actually happened was 60% of students borrowed - Treasury were out by about 20%,” said Andrew Kirton, Co-president of NZUSA.

“The reality is that students struggle to survive on the meagre amount that they are currently allowed to borrow from the student loan scheme each week. It is insulting to suggest that these people will immediately invest this desperately needed money,” said Kirton. Ends

© Scoop Media

Culture Headlines | Health Headlines | Education Headlines


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: Benjamin Ree's The Painter and The Thief

The Norwegian filmmaker had long been fascinated by art thieves who commit high-stakes crimes with a delicate touch when a chance Google search in 2015 uncovered a botched heist in Oslo. 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>>

Howard Davis: Byrneing Down the House - Spike Lee's American Utopia

Lee does an admirable job capturing Byrne's stunning live performance of his latest album, but the real star of the show is the staging. More>>

Howard Davis: The Phoenix Foundation Friend Ship Tour Docks in Wellington

A sense of local pride was certainly running high at the Opera House on Saturday night, as the lads ran through a tasty little set drawn mostly from their latest album Friend Ship (splash out for Xmas on the shocking pink extra-thick vinyl edition). More>>



  • Wellington
  • Christchurch
  • Auckland