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May 27, 2006 | by  | in News | [ssba]

Student Loans: A Brief and Incomprehensive History

The beginning: the Student Loan Scheme Act passed under Jim Bolger’s National Government.

Lots of students borrow money and do irresponsible things.

Labour Government elected, with student debt standing at three billion dollars.

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.

Tertiary Education Commission (TEC) established as part of Government attempts to strengthen the sector. Student debt reaches five billion dollars.

NZUSA files a claim against the scheme with the Human Rights Commission,
arguing it discriminates against women.

Student debt reaches eight billion dollars. The incumbent Labour Government wins general election and subsequently passes campaign promise of interest free student loans.

Student loans go interest free.


About the Author ()

Salient is a magazine. Salient is a website. Salient is an institution founded in 1938 to cater to the whim and fancy of students of Victoria University. We are partly funded by VUWSA and partly by gold bullion that was discovered under a pile of old Salients from the 40's. Salient welcomes your participation in debate on all the issues that we present to you, and if you're a student of Victoria University then you're more than welcome to drop in and have tea and scones with the contributors of this little rag in our little hideaway that overlooks Wellington.

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