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Labour to Save Graduates Millions
Labour to Save Graduates Millions
Today's tertiary policy released by Labour will provide long term relief for students and graduates struggling to repay their student debt loans. It is a policy that has been needed to address the crisis in Tertiary Education since the introduction of User Pays.
"Students, graduates and their families can see with this policy that the student debt scheme has been grossly unfair and Labour is showing commitment to start addressing this." said OPSA President Rachel Dibble today.
Interest on the same total of student debt means low income graduates pay significantly more in repayments than high income graduates.
"With interest being written off, there is a move towards addressing the inequitable student debt loan scheme. This will have substantial and positive effects on those who take the longest to repay the student debt"
Labour has also indicated it intends to increase eligibility to allowances, provide incentives to bring back overseas graduates and give greater fee certainty.
"Of course the fairest and most equitable way to deal with the student debt crisis would be to provide a fully funded Education system with zero fees and a living allowance for all students." Ms Dibble said.
"While not a final solution, Labour's policy release today will provide much needed relief for students and graduates." said Ms Dibble.
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