Zero fees across NZ for tertiary education

“In the next three year term, the NZ Independent Coalition plans to implement the successful zero-fees model at Bay of Plenty Polytechnic and Waiariki Institute of Technology.

“The successful Southland zero-fees model can be replicated in our region and will be a boon to the economy,” said leader Brendan Horan, speaking at a student forum at Bay of Plenty Polytechnic today.

“NZ Independent Coalition is committed to moving towards a zero-fees model for tertiary education throughout New Zealand, saving students up to $15,000 over a Bachelor of Commerce degree.

“It is wrong that students are loaded with a mortgage-size debt, and that is why NZ’s newest political entity will also restore a universal student allowance by abolishing the parental income test, and restore postgraduate student allowances,” he said

The Southland Institute of Technology implemented zero-fees over 10 years ago. With seed funding from two local Trusts and the Councils, it rapidly became self-sustaining, with student numbers increasing over 46% and attracting sufficient per-capita Government funding to meet costs. By 2010, the economic impact of zero-fees was over $210 million and contributed over 730 full time equivalent jobs.

The zero-fee model applies to the basic tuition cost for each programme, while students pay direct material costs. For a Bachelor of Commerce degree in Southland, students pay $1,680 over three years and save nearly $15,000.

NZ Independent Coalition plans to overhaul Studylink, abolishing the frustrating bureaucracy and delivering quality frontline services.

Students over 55 years will be able to access student loans for living costs and course-related costs.

Revenue for tertiary education changes can be found in a currently untaxed area of the New Zealand economy - financial transactions. NZ Independent Coalition will look to implement a 0.1% Financial Transaction Tax, following the example of 11 European Union nations lead by France and Germany. An FTT at the modest rate of 0.1% will result in revenue of around $9.5 billion for the people of New Zealand every year. After all, if the financial institutions make their money by clipping the ticket on every transaction, then so too should the Government.

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