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

 

10 Years of Interest-Free Loans working for women

FOR IMMEDIATE RELEASE

10 Years of Interest-Free Loans working for women, but is it time for bonding?

29 September 2015

Media Release: New Zealand Union of Students’ Associations and the Post Primary Teachers' Association

It has been 10 years since the Clark government took interest-free student loans to the 2005 general election.

The milestone has women celebrating the closing gap in repayment times between women and men, which has shrunk from 4 years in 2002 to just sixth months for those who left study in 2011. It now takes men, on average, 6.7 years to pay back their loan and women 7.2 years.

At an event tonight jointly hosted between the Post Primary Teachers’ Association (PPTA) and the national student union (NZUSA), Labour Party finance spokesperson Grant Robertson will discuss the impact of the policy alongside University of Auckland economist Susan St. John.

Susan St. John says she is concerned that the gender repayment time gap is starting to grow again -which may reflect the growing gender pay gap in the workforce and cuts to student support.

PPTA president Angela Roberts says she expects user pays tertiary education to be drawn into the debate over pay equity in New Zealand.

Student debt was a women’s issue because it still takes women sixth months longer on average to pay back their loans, Roberts said.

“That’s down to the persistent and growing gender pay gap in this country.

“Until we have total pay equity, the government needs to ensure women aren't discriminated against in public services. It’s time the policymakers looked at bonding in exchange for free education, at least for state sector workers like teachers.”

Reflecting on the decade of interest-free, NZUSA president Rory McCourt says the policy has improved the lives of hundreds of thousands of New Zealanders, but as debt continued to rise more radical options had to be looked at.

“This policy has changed lives allowing people to get out of debt and into housing, businesses and saving for retirement sooner. It shrunk the gender repayment time gap by three and half years. That’s an important achievement.”

“But since 2005 student debt has continued to rise -individually and collectively. The bill hits $15 billion in February and there’s no plan about how to stop the rise of this toxic debt.”

He agreed with Roberts that is was time to look at options like bonding teacher trainees to get on top of the debt problem.


ENDS


© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 


Howard Davis: Emerald Fennell's Promising Young Woman'


The Guardian needed not one, but three reviews to do justice to Fennell's unsettling approach, which indicates exactly how ambiguous and controversial its message really is. 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 won the Non Fiction Award at the Montana New Zealand Book Awards in 2009, and has now been republished by Te Papa press. More>>

Howard Davis: The Back of the Painting

Painting conservators are the forensic pathologists of the art world. While they cannot bring their subjects back to life, they do provide fascinating insights into the precise circumstances of a painting's creation, its material authenticity, and constructive methodology. More>>


Howard Davis: Black Panthers on the Prowl

A passionate and gripping political drama from Shaka King, this is an informative and instructive tale of human frailty that centers around the charismatic Chicago Black Panther leader Fred Hampton, who was murdered at the age of twenty-one during a police raid. More>>

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: 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>>

 
 
 
 
 
 

LATEST HEADLINES

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