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

 

Government silent on surplus money reaped from Student Loans

12 December 2013

Government strangely silent on surplus money reaped from Student Loans

The government has remained strangely silent on a report released this week showing that repayments on student loans in the last year have run almost $200 million ahead of forecasts.

The New Zealand Union of Students’ Associations notes that the Student Loan Scheme Annual Report published by the Ministry of Education for the year ending June 2013 topped $1 billion in repayments against a Treasury forecast of about $840 million.

“This essentially amounts to a funnelling of money from former students back into the government’s pockets. Accordingly there has to be a high standard of accountability to ensure it is being reinvested in quality learning experiences or being put into student support in ways that visibly contribute to access and opportunity", says Daniel Haines, 2014 President of NZUSA.

“What we seem to be witnessing is a scheme that is acting as a cash cow for the government but that is extremely expensive to run and that isn’t being held up to the light for scrutiny.

“Former president Pete Hodkinson has addressed the Finance and Expenditure Select Committee regarding growing concerns about the way the scheme operates, including questionable calculations on the discount rate used to justify the way it is geared, and given their shared concerns NZUSA remains hopeful that it will be subject to a parliamentary inquiry in 2014”.

ENDS

© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Howard Davis: 1917's 1,000 Yard Stare

Sam Mendes has created a terrible and barbarous trek, one that we appreciate all the more for being catapulted right into the midst of this ear-splitting melee from the film's opening sequence. More>>


Floorball: NZ To Host World Cup Of Floorball In 2022

In a major coup for a minnow nation in the European-dominated sport of floorball, New Zealand has won the rights to host one of the sport’s marque international events. More>>

National Voyage Continues: Tuia 250 Ends

Tuia 250 has unleashed an unstoppable desire to keep moving forward and continue the kōrero about who we are, say the co-chairs of the Tuia 250 National Coordinating Committee, Dame Jenny Shipley and Hoturoa Barclay-Kerr. More>>

ALSO:

Te Papa: New Chief Executive From Its Own Staff

Courtney Johnston has been appointed as the new Chief Executive of Te Papa. Ms Johnston will take up the role in December 2019. Since its founding, Te Papa has had a dual leadership model, and as Tumu Whakarae|Chief Executive, Johnston will share the leadership with Kaihautū Dr Arapata Hakiwai. More>>

ALSO:

Over 150 Productions: NZ Fringe 2020 Has Launched

The upcoming festival will be held at 40 venues all over Wellington Region from 28 February to 21 March, and includes every genre possible—theatre, comedy, dance, music, clowning, cabaret, visual art, children’s shows and more! More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 


 
  • Wellington
  • Christchurch
  • Auckland