Students anticipate passing of interest free loans

Students eagerly anticipate passing of ‘interest free loans’ Bill tomorrow

The New Zealand University Students’ Association (NZUSA) is eagerly anticipating the passing of the Taxation (Annual Rates and Urgent Measures) Bill that would make student loans interest free from 1 April 2006 when it is debated in Parliament tomorrow.

“Students have been waiting for a huge hit on the student debt monster since 1992, when the student loan scheme first started,” said Camilla Belich, Co-president of NZUSA.

“When Parliament eradicates interest on student loans, they will be taking the biggest swipe at the student loan scheme to date.”

“We expect that no interest on student loans will encourage students and graduates to stay in New Zealand, help them pay off their loans faster and allow them to make the adult choices they deserve to make like buying a house or starting a family sooner.”

“With the passing of this legislation the Government and their supporters have shown a commitment to students and graduates. It is our greatest wish that this commitment continues to a greater amount of support for students while they are studying and the lowering of our high course fees.”

“We imagine that students will be out celebrating this policy on campus when loans finally become interest free from 1 April 2006,” said Belich.

NZUSA would like to encourage all parties to vote for interest free student loans tomorrow.

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