1992
The beginning: the Student Loan Scheme Act passed under Jim Bolger’s National Government.
Mid-90s
Lots of students borrow money and do irresponsible things.
1999
Labour Government elected, with student debt standing at three billion dollars.
2000
Newly elected Labour Government bring in a number of changes, including a freeze on the student loan interest rate, and increases in income thresholds for some borrowers. Interest charged while students are still studying is written off.
2002
Tertiary Education Commission (TEC) established as part of Government attempts to strengthen the sector. Student debt reaches five billion dollars.
2003
NZUSA files a claim against the scheme with the Human Rights Commission,
arguing it discriminates against women.
2005
Student debt reaches eight billion dollars. The incumbent Labour Government wins general election and subsequently passes campaign promise of interest free student loans.
2006
Student loans go interest free.