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.
About the Author (Author Profile)
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.Subscribe
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