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IRD Report supports free public tertiary education
IRD Report supports call for free public tertiary education
Students are referring the government to its own recently released Inland Revenue Annual Report for the clear evidence that the student loan scheme is inefficient, inappropriate and has passed its use-by date.
"This report clearly demonstrates the inefficiencies of the student loan scheme and highlights the huge financial challenges facing vast numbers of students and graduates. It is an indictment on a government that has consistently failed to meet the needs of the tertiary community" said Joey Randall, Co-President of the New Zealand Union of Students' Associations (NZUSA).
Overall the report shows student loan repayments have remained consistent with the previous year, however it highlights that more students are now borrowing more money and that fewer numbers are managing to pay their loans off.
"Increased borrowing backs up student claims that escalating tuition fees and reductions in student allowance eligibility are unfair and un-manageable and are resulting in forced reliance on the loan scheme. New Zealanders are being burdened with huge personal debt due to government inaction in education, and it's just not good enough", said Randall.
The student loan scheme provides limited financial assistance to students during study. Until 1 April 2006 student loans incurred significant interest charges, resulting in massive loan balances far beyond the original cost of the study for many students and graduates, the legacy of which many are still battling with today.
"An entire generation are now affected by the failed experiment that is the student loan scheme, and they deserve positive change now", said Randall.
NZUSA urges the government to take heed of the evidence in the report and address this mess once and for all, proving its commitment to the knowledge economy by adequately support students through study with universal student allowances and fully publicly funded tertiary education.
ENDS
NZUSA - New Zealand Union of Students' Associations
We stand for opportunity, for all.
NZUSA is the New Zealand Union of Students' Associations, the national body that represents New Zealand's students' associations and the interests of New Zealand's 400,000 students at universities, polytechnics and in trades training.
We conduct original research, advocate to Government and through the media, and support New Zealand's students' associations to be more effective on behalf of their members. We advocate alongside Te Mana Akonga – The National Māori Students' Association, and Tertiary Women New Zealand – The NZUSA Women's Caucus.
Since 1929, we've believed in a society rich in opportunity, where anyone from anywhere can become any thing. We support accessible, affordable quality public tertiary education.
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