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

 

Troubled past for student loan scheme borrowers

30 November 2005

Data set shows a troubled past for student loan scheme borrowers

The integrated data set released by Statistics New Zealand today focuses on how students have been struggling with student debt between 1997 and 2003.

"This data shows how the debt burden has negatively affected students between 1997 and 2003. It shows that only a minority of borrowers have been able to repay their loans, and that high debt is forcing graduates overseas," said Camilla Belich, Co-president of NZUSA.

"Those with the highest debts overseas are those who studied in high fee courses like health or medicine. These people are desperately needed in New Zealand, but this data proves that they are being forced overseas by their huge loans."

"The mean debt for graduates overseas is almost $10,000 more than those still in New Zealand. This extraordinary difference proves that there is a link between graduates leaving the country and their level of student debt."

The report also shows that only 14% of all borrowers, only 7% of Maori and 8% of Pasifika students, from 1997-2003 have repaid their loans fully.

"There is clearly a disproportionately negative effect of getting into debt for Maori and Pasifika students. This shows that the loan scheme in its current form is just not working for the majority of borrowers," said Belich.

"Interest free student loans will help to mitigate the effect of student debt. However, the only way to fully deal to debt is to look at the drivers of debt - high fees and lack of access to a living allowance," said Belich.

ENDS

© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 


Howard Davis: Joel Coen's Monochromatic Macbeth

The Bard of Avon may well be smirking up the sleeves of his lace doublet at the irony of Will Smith's Oscar debacle, but now that the initial furore has dissipated, it's worth revisiting the movie for which Denzel Washington was also nominated. More>>

Howard Davis: Kenneth Branagh’s Black & White Belfast

Branagh has assembled a wonderful cast, including Ciarán Hinds, a gently formidable actor who well deserves his Oscar nomination, and Judi Dench, who steals every scene she’s in. More>>


Howard Davis: Dennis Villeneuve’s Dune - A Brief History

So many elements of Herbert’s novel have since become tropes of popular SciFi that Villeneuve’s film sometimes seems deceptively derivative. What makes all this nonsense essential viewing is his astonishing visual sensibility. 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 has been republished by Te Papa press. More>>

 
 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 
 
  • Wellington
  • Christchurch
  • Auckland