Student interest rates going up under National

Labour associate education spokesperson (tertiary) Steve Maharey said news that student interest rates will increase under National was further illustration of the major difference in policies between the two parties.

"Under Labour, full-time and other low income students will pay no interest on their student loans while they are still studying. Under National, current student loan interest rates will go up. The difference is clear," Steve Maharey said.

Steve Maharey was commenting on a news report saying the interest rate was likely to jump from 7% to 7.6% from April next year.

"Already, the interest rate on the student loan scheme is one of the major issues during this election campaign.

"It rankles students and their parents that they have to pay so much to get a decent education. This news is going to antagonise those voters even further.

"National's desperate game of catch-up politics over the student loan scheme is not working and will not work. Students and their families know that National has no real commitment to lowering the costs of tertiary education," Steve Maharey said.

© Scoop Media