Free money for students!

[EJK]

You can save up to $3,687.37 by simply doing NOTHING.
Sounds complicated? Yeah but it will work, here is my theory. If you can’t be bothered with maths (or not a student), then don’t read on. However if you really want to know how to save more than $3k within 3 years, read on.

Alright kids, you all know that you can borrow up to $1000 of “course related cost” right? Also you guys can borrow that $1000 for every semester. Yes? Oh, did I mention its interest free?

So far: You guys can borrow upto interest free $6,000 in 3 years time.
Now time for some maths… (Press Alt + F4 whenever you guys want)

1st Semester: You start with borrowed $1000. But hold on, before you do all this, you must create an untochable savings account for yourself. Untouchable, which means you can not withdraw ANY AMOUNT of cash. This is really important.

So yes, where was I… You start with a Thousand dollar. Put it in the untouchable account.
By end of your first semester, you will receive $1,016.08 thanks to the happy 3.25% pa interest. Congrats you have earned $16 dollars for being very patient. (Ok lets move on quickly now)

Beginning of your 2nd semester, you apply and succeed getting another $1000. Gaining you $2,016.08 for your next semester. Keep it that way and you will end up earning $2,048.50 by end of the semester. That’s $48.50 for you for being very patient.

And so on you follow my train right? Every semester you get $1000 plus the interest and your savings (It would be much easier if I could write a java program on KB! Aargh).

2nd year 1st semester: $3,105.00
Oh wait here, if you are with the National Bank, the interest rate goes upto 3.75% from 3.25% when your funding reaches $2500.

2nd year 2nd semester: $4,181.08 (The higher interest rate kicked in)

3rd year 1st semester: $5,277.10
3rd year 2nd semester: $6,393.84

Congratulations you have now graduated the university. Now it’s time to pay back the money, total of $6,000. Oh now hold on, you get something left! $393.84, how did that get in there?
WOW Congratulations, you have earned $393.84 for doing absolutely no shit kidding NOTHING!!!!!

But hold on! This gets better!
If you can save $10 a week (Automatically depositing $10 every week to the untochable account if you have a job or an allowance), by end of your 1st semester you will see total of $1,277.46 in your account (Same 3.25% p.a. applys).
So on and so on…
By end of 1st year 2nd semester: $2,575.46 (note that $1000 gets deposited every semester, Plus the 3.75% p.a. again kicks in from now)
2nd year 1st semester: $3,963.40
2nd year 2nd semester: $5,255.95
3rd year 1st semester: $6,633.57
3rd year 2nd semester: $7,652.10
So if you save $10 (2 Bacon and egg pies and a bottle of coke) a week, you can SAVE upto $1,652.10. By the meaning of SAVE, I mean THAT amount of CASH can be YOURS! IN CASH!

Hold on! I’m not finished, it’s double time!!!!
Now lets say you will save $20 every week (2 Pies, a bottle of coke plus some Friday Chiller’s alcohol drinks).
Again you will start with $1000.

By end of 1st year 1st semester: $1,538.83
1st year 2nd semester: $3,109.24. Note: 3.75% already kickes in!
2nd year 1st semester: $4,708.76
2nd year 2nd semester: $6,337.92
3rd year 1st semester: $7,997.27
3rd year 2nd semester: $9,687.37

Now lets pay off $6000, you will have saved a total of $3,687.37 Interest free, tax free, clean cash in your pocket!!!!

Man I love maths! I’m a year and a half late but I think I’ll start now.

Note this too: Studylink has borrowed/ givin away almost $5.7 Billion dollar last year. Now as time goes by, they will get fussy about letting the money. Now is a good time to claim “course related cost”. I’m thinking that in the future they’ll do a lot of background and credit checks.

So, Act now. Time is gold (ironic huh), Sieze the moment! Damn fuck sake why I figured this just now! I could’ve started earlier! Damn it…

*Above statics are for National Bank School Plus accounts only.
** Above fundings are only capable if you are extremely patient. All calculations above have been done from www.sorted.org.nz Saving’s calculator. Savings per semester is based from 1st January to 31st of June, in 6 months period.
***By not touching the funds in the account, no eftpos or withdraw fees apply.

FAQ:
Q: It's course related cost, can I just claim it?
A: Yes you can! Just fake it! Say you have to buy 4 text books, or you catch bus 2 times a day. Or just say you are going to buy a laptop and some Microsoft Office software. They will simply give you the form, fill it out and $1000 will be in your account within 2 weeks.

Q: Don't you get caught?
A: So far none. You may be the first if you are unlucky ;) but truely it's your money when it is in your account. You can do whatever you want when it comes in.

Q: Don't they check or anything?
A: Don't ask! No one has ever done this before! ....yet

Q: Sounds cool. How about using the over draft to furthur increase $1000 in my first year?
A: I strongly suggest you not to. Remember, your first semester's interest earning will be $16, however using the over draft (which costs $3 per month) will take you $18 off your account each semester, resulting losing -$2 in your first semester. Not good. However you may use the over draft, (you can get up to $2000 o.d. from the National Bank in your 2nd year of study) and deposit the whole amount to your new untouchable account. That may increase your interest earnings. I can't be bothered doing that calculations so why don't you do the maths? Thanks.

Q: Cops may read this on KB. What should I do?
A: Quick! Change your name and your personal details on your profile! But hold on, it is your money. This is not money laundrying nor fraud..... is it?

Q: Hey, is there any other way that I can score extra money?
A: Easy. All you have to do is act fast, don't hesitate, and sieze the day. You know when ASB Bank gave $40 to whoever signes up? Yeah, take it and don't use it ever again. ;) "Carpe Diem"!

[boostin]

Q: It's course related cost, can I just claim it?
A: Yes you can! Just fake it!

This is not money laundrying nor fraud..... is it?

See you tomorrow man

[Patar]

by the end of the 3 years, you've got 6k of government money and you've 'earned' $400.
The rest of your impressive figue is compromised entirely from saving money on luxuries that you don't need, which isn't a revolutionary idea, in fact it's been plastered in the media as of late.

I've got a friend who's got a student allowance (which are intrest free until you graduate iirc) which he is just putting into a bank account and collecting the intrest on it. which is the same as collecting 1k each semester, except more money.

Now for my opinion, I think it's a piss poor idea. Not because of the "free money", but because you're abusing the system. These systems are put in place to assist student who need the help. If people continually abuse these schemes, not only does that put government funds under increased strain (you mentioned 5.7bn lent from studylink, last year alone) but it will also likely result in the termination of these programs to the loss of students who need it.


If you want to earn $400, why don't you go pick apples for a week in the summer.

[Choco]

Compound Interest - Funding my retirement since ages ago :niceone:

[TOTO]

hmmmmm My new bike next year can easyly be course related cost ...


or lets make that 2 laptops $1000 each going towards the bigger engine...:innocent:

EJ gets a blong !

[shingo]

...thanks to the happy 3.25% pa interest...

You know an ASB Fastsaver account gives you 8.10% interest pa, plus you can withdraw money from the account anytime using there online banking system.

[ital916]

if i'm strong willed I can save a fuckload more than that quicker than that haha.

[EJK]

by the end of the 3 years, you've got 6k of government money and you've 'earned' $400.
The rest of your impressive figue is compromised entirely from saving money on luxuries that you don't need, which isn't a revolutionary idea, in fact it's been plastered in the media as of late.

I've got a friend who's got a student allowance (which are intrest free until you graduate iirc) which he is just putting into a bank account and collecting the intrest on it. which is the same as collecting 1k each semester, except more money.

Now for my opinion, I think it's a piss poor idea. Not because of the "free money", but because you're abusing the system. These systems are put in place to assist student who need the help. If people continually abuse these schemes, not only does that put government funds under increased strain (you mentioned 5.7bn lent from studylink, last year alone) but it will also likely result in the termination of these programs to the loss of students who need it.


If you want to earn $400, why don't you go pick apples for a week in the summer.

Its true. You are right. However I'm not going to run away to Australia or other oversea countries to just totally evade IRD and the student loan.

It's just an idea thats all... Ofcourse people can earn $400 within a week, but I was just saying comically.

However, thanks for your other side of the opinion.

[EJK]

if i'm strong willed I can save a fuckload more than that quicker than that haha.

Yeah imagine, all your strong willed savings PLUS that bonus amount!

[Slyer]

Lets look at your total earnings...
$393.84 divided by 1095 days in three years..

35 Cents per day ZOMG! You're rich now!

[PirateJafa]

Lets look at your total earnings...
$393.84 divided by 1095 days in three years..

35 Cents per day ZOMG! You're rich now!

Slyer.

Kicking puppies in the skulls since 1988.

[Slyer]

Best idea ever: Save that money for 3 weeks and you can buy a lotto ticket!
That's like several million dollars of free money right there.

[klyong82]

Most banks have online call accounts that offer at least 8% return.....at 8% that would be alot more money EJ but you gonna have to be very careful to not dip into the account....I know how tempting it can be.

Have you taken into account the personal tax rate? Nice write up but I think the interest would be more given how the banks calculate their interest...

[bomma]

by the end of the 3 years, you've got 6k of government money and you've 'earned' $400.
The rest of your impressive figue is compromised entirely from saving money on luxuries that you don't need, which isn't a revolutionary idea, in fact it's been plastered in the media as of late.

I've got a friend who's got a student allowance (which are intrest free until you graduate iirc) which he is just putting into a bank account and collecting the intrest on it. which is the same as collecting 1k each semester, except more money.

Now for my opinion, I think it's a piss poor idea. Not because of the "free money", but because you're abusing the system. These systems are put in place to assist student who need the help. If people continually abuse these schemes, not only does that put government funds under increased strain (you mentioned 5.7bn lent from studylink, last year alone) but it will also likely result in the termination of these programs to the loss of students who need it.


If you want to earn $400, why don't you go pick apples for a week in the summer.

some SERIOUS flaws in your argument...MAINLY you ASSUME that us taking money from the government and INVESTING into a bank is a BAD thing. Consider this, students do this and end up SPENDING the money on CRAP like food. This money spent is the reason there is such a large student debt owing. Considering what ACTUALLY happens, EJ saving the money that he has withdrawn from the government and being able to pay it back in full means that this idea is BENEFICIAL to the government. I barely have any money that i have borrowed from the government and this money has gone on luxury items (food, shoes, clothes) and on some neccesities (such as the bike). If i had that same amount of money saved in a bank account, i would be able to pay back all the money borrowed in full, plus use the interest earned to FURTHER REDUCE my student debt.

SECONDLY where do you think the money saved goes?? Where do you think banks get the money to lend?? How do you think banks are able to pay interest?? Look into it. The reason this country is in recession right now is because the NZ population as a whole is spending almost 20% (?) more than what they are earning. ie $1.20 spent for every $1 earnt. Saving money is one of the best ways to reduce inflation and curb this.

FINALLY the farm that EJ will be "picking apples for a week" on probably has a mortgage 10 times that of EJ's student loan.....would you go to the farmer and say "stop borrowing money and start making more profits!!"?? if you want something to shake a fist at, the NZ population as a whole owes more than 330 billion dollars on mortgages alone (with interest) that is to be paid back in the next 25 years.....

Thankyou EJ for pointing this out and all the best mate:niceone:. I know how hard it is to save, but having a part-time job (which you probably do) will help immensely. Just make sure you dont go over the earning threshold and end up having to make early payments on your student loan. :first:

[vindy500]

rabo plus. 8.35% and no fees

[bomma]

just a quick thought ej and you may want to look into this. if you are getting living costs/allowance, then you can still have a part-time job. but as mentioned before there is a limit on how much you can earn in a year before you are required to make payments. if you do this right, you could do the same thing that patar's mate's doing and there is potential to save over $100 a week which will be deposited into your account while the part-time job can sustain you

[motorbyclist]

it's a piss poor idea. Not because of the "free money", but because you're abusing the system.

+1


You know an ASB Fastsaver account gives you 8.10% interest pa, plus you can withdraw money from the account anytime using there online banking system.

pwned!


some SERIOUS flaws in your argument...MAINLY you ASSUME that us taking money from the government and INVESTING into a bank is a BAD thing. Consider this, students do this and end up SPENDING the money on CRAP like food. This money spent is the reason there is such a large student debt owing. Considering what ACTUALLY happens, EJ saving the money that he has withdrawn from the government and being able to pay it back in full means that this idea is BENEFICIAL to the government.

to question the only relevant part of your rebuttal:

that money we are needlessly taking and holding for x number of years is money the govt would otherwise invest or hold onto themselves, either way earning the govt money which is then money they don't need to get off us.

do remember govt money is taxpayer money

by taking that money and giving it to a bank to invest, the bank makes the dosh while the govt is left with a debt.

so how is taking and holding govt money possibly beneficial to the govt?


and of course, there's the moral issue behind abusing a system built to help us (however shit it may be), and schemes (which do happen) like this give the whole student population a bad look in the eyes of the general public, especially when we're asking for an universal student allowance



besides all that, i'f you're going to do something you may as well do it properly:
once you've put all your money, including your coffee/beer budget into you raccount for 3 to 5 years, why not hold onto those funds and pay back the minimum amount on the loan? if you've saved enough the interest could be enough to cover the loan repayments;)

and if you think about it, just by banking the $150 per week living costs means once you graduate you can buy a brand new bike, with cash, interest free!

[EJK]

Uhh yeah it is indeed abusing the system...



and if you think about it, just by banking the $150 per week living costs means once you graduate you can buy a brand new bike, with cash, interest free!

I was thinking about that. Yes, if you can save all that above (which ain't really cool but doable), by end of your 3rd year, you can have $9,700 in your account, interest free.
Now, when you graduate, with your personal savings, plus this savings and when you trade in/ sell your bike, you may have enough money to buy a brand new CBR600RR when you graduate! Within 3 years! How will you pay it back? Well the Studylink will take your student loan bit by bit from your wage/ salary.

So:

It's interest free
Repayment is WITH the student loan so it will be Bike purchase + Study funds going off bit by bit.
It's convinient!



just a quick thought ej and you may want to look into this. if you are getting living costs/allowance, then you can still have a part-time job. but as mentioned before there is a limit on how much you can earn in a year before you are required to make payments. if you do this right, you could do the same thing that patar's mate's doing and there is potential to save over $100 a week which will be deposited into your account while the part-time job can sustain you

Heh thanks but I already knew that. This thread was about what you can do with the government's money not ah I'm piss poor broke! I need to save up some money! thing. Thanks.

Ok I started this thread as a joke but some peoples are starting to get serious... Why? Are you guys afraid that my next thread will be about Tax Evasion or 4% vs 8% Kiwisaver? (Hmmm I think I could do some calculation for that!)

It's a joke, But totally doable thats all...

[Slyer]

A JOKE? ARE YOU SERIOUS?
Did you look at how long your post is? That is a lot of effort for a bad joke.
And yeah, taking advantage of the govt is pretty lame... I even chose not to the last time I had an opportunity. Ask Jafa. ;)

[EJK]

A JOKE? ARE YOU SERIOUS?
Did you look at how long your post is? That is a lot of effort for a bad joke.
And yeah, taking advantage of the govt is pretty lame... I even chose not to the last time I had an opportunity. Ask Jafa. ;)

Don't you just love maths? :cool:

[klyong82]

SECONDLY where do you think the money saved goes?? Where do you think banks get the money to lend?? How do you think banks are able to pay interest?? Look into it. The reason this country is in recession right now is because the NZ population as a whole is spending almost 20% (?) more than what they are earning. ie $1.20 spent for every $1 earnt. Saving money is one of the best ways to reduce inflation and curb this.

Over the years NZ'ers have been spending more than they earn and that is because of access to low borrowings from banks or other financial institutions. A high NZ dollar encouraging mass imports and a booming property market - finally the economic bubble has popped and the govt. has increased the OCR to make access to debt more expensive thus cooling the economy to curb inflation pressures. What has led to the recession was also the price of crude oil increasing to sky rocket levels as most industries require oil to power their activities, production, manufacturing etc.



+1




do remember govt money is taxpayer money

by taking that money and giving it to a bank to invest, the bank makes the dosh while the govt is left with a debt.

so how is taking and holding govt money possibly beneficial to the govt?


and of course, there's the moral issue behind abusing a system built to help us (however shit it may be), and schemes (which do happen) like this give the whole student population a bad look in the eyes of the general public, especially when we're asking for an universal student allowance



besides all that, i'f you're going to do something you may as well do it properly:
once you've put all your money, including your coffee/beer budget into you raccount for 3 to 5 years, why not hold onto those funds and pay back the minimum amount on the loan? if you've saved enough the interest could be enough to cover the loan repayments;)

and if you think about it, just by banking the $150 per week living costs means once you graduate you can buy a brand new bike, with cash, interest free!

I had an idea when I was still studying and that was at the end of 3 years after you have saved all that money to use it as a deposit to purchase a property . Back those years the returns on property average about 10-14% and if I rented out the property it would have just about cover the interest payments. Flick the property off in 2 or 3 years for a capital gain.... pay off the loans and maybe use the proceeds as equity to purchase 2 more properties...(remember back then it wasn't interest free yet but it was do-able).



Don't you just love maths? :cool:

Yup I love using my HP10BII calculator!!

[HungusMaximist]

I had an idea when I was still studying and that was at the end of 3 years after you have saved all that money to use it as a deposit to purchase a property . Back those years the returns on property average about 10-14% and if I rented out the property it would have just about cover the interest payments. Flick the property off in 2 or 3 years for a capital gain.... pay off the loans and maybe use the proceeds as equity to purchase 2 more properties...(remember back then it wasn't interest free yet but it was do-able).



Good point there mate but you'll be surprised now is just as a good as ever to purchase property (just look at all the mortgagee auctions that's available at the moment) or invest in a company.

There's a lot of wisdom in buying when the economic trend is down because when the market is up, friends and family talk about it and plus there's a lot of hype instigated by parties who has vested interest (real estate agents, share brokers.. etc) all add to the nose/hype. However when the market is down, people get rattled and get so affected by the 'noise', they eventually sell.

Pretty much, buy in economic down turn and sell when the market is up but key is, spread your eggs across different baskets.

[HenryDorsetCase]

"Free Money" is a genius Patti Smith song.

carry on.

[avgas]

then when you graduate go on the dole because your overqualified and lazy.
This will complete your training to becoming an asshole that abuses the system.......some of us actually had to BUY BOOKS with that money because of assholes like you.
FYI your an ASSHOLE

[Timati]

3K in 3 years...don't have that kind of patience and rather invest in something that has better returns - commodities and options. Once the dosh rolls all you need to do is take a seat back and enjoy the luxuries of life.

[bomma]

to question the only relevant part of your rebuttal:

that money we are needlessly taking and holding for x number of years is money the govt would otherwise invest or hold onto themselves, either way earning the govt money which is then money they don't need to get off us.

do remember govt money is taxpayer money

by taking that money and giving it to a bank to invest, the bank makes the dosh while the govt is left with a debt.

so how is taking and holding govt money possibly beneficial to the govt?

how much of your student loan would you be able to repay the moment you finish your studying?? read my first post again and you will see that i emphasised SAVING the money as that is the whole point of this thread. the govt may be losing the money in the short run but the fact that there is potential for that borrowed money to be repaid in lumps puts EJ (although he isnt actually doing this) in a class above most students!! if you borrow this money just because you can or for real expenses, it's money that you will never see again coz IT WILL BE SPENT!! how does that benefit the govt?? imho if there was any scheme that the govt should promote, it should be this. they lose nothing out of it and it is to the student's benefit.


and of course, there's the moral issue behind abusing a system built to help us (however shit it may be), and schemes (which do happen) like this give the whole student population a bad look in the eyes of the general public, especially when we're asking for an universal student allowance

as you urself have said andrew, we are the future so it would be wise to invest in us :niceone: there is no moral issue, it is there for us provided by the govt. if they wanted to minimise our borrowings, they wouldn't offer living costs where anybody is eligible. they wouldnt have made the loans interest free which would encourage us to pay it back quicker. this country is a pile of horse shit (no offence to the residents, im talking about the political scene). we are more than happy to GIVE money away to people who sit at home, enjoying luxuries the person DEFINATELY does not DESERVE, living off welfare and popping out kids for extra dosh. my mate's dad has it right. he suggests that instead of social welfare free monies, get the able bodied to do courses that are paid for by the govt. this increases their skill base and will prepare and enable them to get work and generate their own income. (he later revealed that this was done in one of the countries he used to live in)


some of us actually had to BUY BOOKS with that money because of assholes like you.
FYI your an ASSHOLE

i dont get it, you are angry because you ACTUALLY had to spend govt money that has been allocated for your course-related expenses on.........course-related expenses?? and you're calling EJ and myself and all others who borrowed the same money assholes because we dont have to?? :mellow:

[HenryDorsetCase]

3k in 3 years...don't have that kind of patience and rather invest in something that has better returns - commodities and options. Once the dosh rolls all you need to do is take a seat back and enjoy the luxuries of life.

bullshit 10 characters later its still bullshit

[Jahdafario]

Nice calcs man,

I spend my $150 a week living costs on shit for my bike tho :P

[Jahdafario]

ps.

It sounds like a lot of you guys go/went to University *chuckle*

[R6_kid]

Q: It's course related cost, can I just claim it?
A: Yes you can! Just fake it! Say you have to buy 4 text books, or you catch bus 2 times a day. Or just say you are going to buy a laptop and some Microsoft Office software. They will simply give you the form, fill it out and $1000 will be in your account within 2 weeks.

[i]This is fraud. You are getting the money because they legitimately believe you will be taking the bus/getting text books/buying a laptop. When in fact you are simply using it for your own benefit - at the cost of the tax payer - a fair few of which are on KB reading this.[/i[

Q: Don't you get caught?
A: So far none. You may be the first if you are unlucky ;) but truely it's your money when it is in your account. You can do whatever you want when it comes in.

If you get caught having used the money for purposes other than that stated they will probably want it back, like i said, it is fraud - which is illegal.

Q: Cops may read this on KB. What should I do?
A: Quick! Change your name and your personal details on your profile! But hold on, it is your money. This is not money laundrying nor fraud..... is it?

Yes, it is fraud.

The only 'legal' way to do this, is to take the $150/wk allowance and save that, you then pay it back at the end of your studies and take the interest earned. Sure it's no different in principle to what you're doing here, but it's not illegal as you are not saying that the money is going to be used for purposes other than what you are intending to do with it.

[Marmoot]

rabo plus. 8.35% and no fees

Correction, 8.10% on-call
But still no fees, which is much nicer than ANZ who charges me $15 per month "to improve service and make it easy for me".

And raboplus don't give out Eftpos cards, so your savings should go up easier than go down.

www.raboplus.co.nz

[EJK]

i dont get it, you are angry because you ACTUALLY had to spend govt money that has been allocated for your course-related expenses on.........course-related expenses?? and you're calling EJ and myself and all others who borrowed the same money assholes because we dont have to?? :mellow:

It's ok mate, it was a stupid thread anyways :rolleyes:

Just wait for my "4% vs 8% Kiwisaver" Thread haha


...kidding

[klyong82]

Good point there mate but you'll be surprised now is just as a good as ever to purchase property (just look at all the mortgagee auctions that's available at the moment) or invest in a company.

There's a lot of wisdom in buying when the economic trend is down because when the market is up, friends and family talk about it and plus there's a lot of hype instigated by parties who has vested interest (real estate agents, share brokers.. etc) all add to the nose/hype. However when the market is down, people get rattled and get so affected by the 'noise', they eventually sell.

Pretty much, buy in economic down turn and sell when the market is up but key is, spread your eggs across different baskets.

Well the prices 5 years ago was low but prices are pretty high now so a little difficult to do it. Well in bad times people tend to hold on to properties for as long as they can because if they sell it then it is a big lost. What makes them sell it is when they are not able to service the interest payments and that is why you get mortagagee sales.

Diversification would also depend on your risk type. I know alot of NZ'ers are pretty risk adverse in all types of economic situations so prefer to keep their money in easy liquidity form assets. As for stocks I know some stocks are still returning 10% annually in dividends. I should start up my finance company :soon:

[klyong82]

It's ok mate, it was a stupid thread anyways :rolleyes:

Just wait for my "4% vs 8% Kiwisaver" Thread haha


...kidding

Might be able to help you with the "How to manage your tax" thread...

[motorbyclist]

I had an idea when I was still studying and that was at the end of 3 years after you have saved all that money to use it as a deposit to purchase a property . Back those years the returns on property average about 10-14% and if I rented out the property it would have just about cover the interest payments. Flick the property off in 2 or 3 years for a capital gain.... pay off the loans and maybe use the proceeds as equity to purchase 2 more properties...(remember back then it wasn't interest free yet but it was do-able).

recon you get get enough from the loan for a deposit in auckland?

mind you, i hear some idiots are buying homes on 110% finance or whatever they call it when you borrow more than the thing is worth


how does that benefit the govt?? imho if there was any scheme that the govt should promote, it should be this. they lose nothing out of it and it is to the student's benefit.

they lose nothing? now i'm no finance/economics expert but doesn't opportunity cost apply here?


as you urself have said andrew, we are the future so it would be wise to invest in us :niceone: there is no moral issue, it is there for us provided by the govt.

there for us to use appropriately (course related costs), not to invest.

to carry out EJ's plan requires lying, thus a moral issue.

the living costs thing is a slighty different story as that is loaned to us to spend of whatever the fuck we want - and we all know a lot of it is wasted on beer and pies



if they wanted to minimise our borrowings, they wouldn't offer living costs where anybody is eligible. they wouldnt have made the loans interest free which would encourage us to pay it back quicker.

if they wanted to minimise borrowings they'd offer a universal student allowance and/or further fee subsidies.

if you ask me, interest free loans was an election bribe from a party facing a loss of power that just so happened to be a sensible decision



this country is a pile of horse shit (no offence to the residents, im talking about the political scene). we are more than happy to GIVE money away to people who sit at home, enjoying luxuries the person DEFINATELY does not DESERVE, living off welfare and popping out kids for extra dosh. my mate's dad has it right. he suggests that instead of social welfare free monies, get the able bodied to do courses that are paid for by the govt. this increases their skill base and will prepare and enable them to get work and generate their own income. (he later revealed that this was done in one of the countries he used to live in)

agree with you there. always pisses me off how easy it is to rip off the system and how fucked up the system is to begin with.

one of my recent favourites is acc giving out $150k to that lab tech who lost several limbs, and in the same month giving out $750k of taxpayer money to their employees in the form of vouchers for discounts

[klyong82]

recon you get get enough from the loan for a deposit in auckland?

mind you, i hear some idiots are buying homes on 110% finance or whatever they call it when you borrow more than the thing is worth


Well nowadays if you dont have equity or a deposit to purchase a property then I think the banks would not be so keen to give you a loan. 110% because they are borrowing to purchase furnishing etc etc which you could do it years ago but given the scams and tight policies it would be hard to get 100% loan with a bank without been stung with other penalties.

[bomma]

they lose nothing? now i'm no finance/economics expert but doesn't opportunity cost apply here?

well what i meant is govt wouldn't lose something that they would otherwise, students will inevtiably borrow this money regardless and will without fail spend it on crap :clap: the only constant in the universe other than change



there for us to use appropriately (course related costs), not to invest.

to carry out EJ's plan requires lying, thus a moral issue.

well think about it this way, you enrol into a year's worth of papers, you have no idea what books you will require for second semester and dont have the money to pay for the first semester books now, keep the reciepts and buy second semester books and then send in the reciepts to claim the money back through the govt. What do you do? Now what if you get a false quote and get the whole $1000 and find money is left over because the expenses werent as big as you expected. Do you give the money back? Are you a thief? I think it's awesome that the govt has this facility but the way that it's run is dumb. Take advantage because at the end of the day, it's money that'll either come to you or your mate or some asshole on the dole.


the living costs thing is a slighty different story as that is loaned to us to spend of whatever the fuck we want - and we all know a lot of it is wasted on beer and pies

hehe ive been good and havnt spent a single cent ive gotten this semster and for the better part of last sem too :)


if they wanted to minimise borrowings they'd offer a universal student allowance and/or further fee subsidies.

if you ask me, interest free loans was an election bribe from a party facing a loss of power that just so happened to be a sensible decision

how does universalising student allowance put the govt in any better position?!?! It's money they're forking out FOR FREE!!! and i agree with you on the interest free loans. it was a stupid idea but obviously has major benefits for those with student loans who are no longer studying.


agree with you there. always pisses me off how easy it is to rip off the system and how fucked up the system is to begin with.

one of my recent favourites is acc giving out $150k to that lab tech who lost several limbs, and in the same month giving out $750k of taxpayer money to their employees in the form of vouchers for discounts

the burden that people place on the govt is INSANE!!! something drastic needs to be done and the politicians have to stop being so PC about it. Pity nobody has the ballz to do this in fear of being unpopular and losing support.....:bash:

[motorbyclist]

how does universalising student allowance put the govt in any better position?!?! It's money they're forking out FOR FREE!!! and i agree with you on the interest free loans. it was a stupid idea but obviously has major benefits for those with student loans who are no longer studying.


exactly - if they wanted to minimise borrowing that's what they'd need to do (or further subsidise fees, which would be a much better way to do it without getting ripped off)



the burden that people place on the govt is INSANE!!! something drastic needs to be done and the politicians have to stop being so PC about it. Pity nobody has the ballz to do this in fear of being unpopular and losing support.....:bash:

did you see the 20/20 section on that guy who printed himself 17 birthcertificates and got them all on sickness benefits because they were all "too depressed to work". ten of those identies had the same PO box postal address and he got away with it for years! the idiots giving out the money never checked the rego number on the certs and apparently are still pretty slack about it even after this guys stole over half a million bucks (that we know of)

and apparently the ceo of winz or whoever is in charge of that gets paid $500k a year to continue to fuck everything up!

$500k a year! how the fuck can they justify that pay for a goverment employee?!

[bomma]

exactly - if they wanted to minimise borrowing that's what they'd need to do (or further subsidise fees, which would be a much better way to do it without getting ripped off)

lol ive got so much goin through my mind on this topic and + im watching tom and jerry so it's even harder to gather these thoughts....im not convinced that universalising student allowance is the best idea because it makes student lazy to work but it does lower our loan's by a shitload...increases the burden on the govt though


did you see the 20/20 section on that guy who printed himself 17 birthcertificates and got them all on sickness benefits because they were all "too depressed to work". ten of those identies had the same PO box postal address and he got away with it for years! the idiots giving out the money never checked the rego number on the certs and apparently are still pretty slack about it even after this guys stole over half a million bucks (that we know of)

and apparently the ceo of winz or whoever is in charge of that gets paid $500k a year to continue to fuck everything up!

$500k a year! how the fuck can they justify that pay for a goverment employee?!

nah man i missed that episode aye....so many slack people in such important positions....and that payslip is NOWHERE NEAR justified!! just want to go on a killing spree in the beehive. this will:

1) get rid of the hopeless pricks that are currently in-charge
2) set fear into the hearts of all politicians present and future
3) will promote honesty and commitment in future political groups

**starts loading shotgun**

[motorbyclist]

when we vote, is there an option to vote "no confidence"?

cause if it isn't therealready, i bet adding it would encourage a lot of people to vote ;)

[Real_Wolf]

geez, this was at one page this morning when I checked.

Do i really have to check these forums EVERY 2 HOURS?

Yeah, I can't be bothered reading the rest, I read the first post, sounds interesting, but its really just a thing of "saving money, it works"

[Slyer]

You should check it every 5 minutes like the rest of us

[Jeremy]

You don't even need receipts. You can just claim it all as transport costs to uni. They'll give you the full grand no questions for that. Just attach a quote for the transport costs for a year, which you can pretty much guarantee are over a grand.

The question is why bother though to do this? Study hard, do post grad. Wipe off your entire loan in a few months.