We're not the only ones

[James Deuce]

Interest on Student Loans is before Parliament.

Because ex-students aren't paying their loans back fast enough and there's 10 billion tied up in student loans.

How does that address the root cause of the issue, you know, most unemployment in 15 years and most of our ex-students head off overseas almost instantly, if they know what's good for them?

The solution is simple.

Do what Norway does. Your student loan costs you nothing if you stay at home, earning and paying tax.

Go live overseas and you have to pay it back with interest.

This government has gone insane. 'We want 10 billion back from those bludging students. The good ones have already left, so we'll chase the fair to middling ones away as well by charging them interest."

That'll work.

[Usarka]

We'll also give the remaining few good ones more incentive to live somewhere betterer.

[merv]

Agree entirely Jim a bond kind of arrangement would be best for all to give them incentive to stay here and work for a while.

[Cajun]

The solution is simple.

Do what Norway does. Your student loan costs you nothing if you stay at home, earning and paying tax.

Go live overseas and you have to pay it back with interest.


This happens now, if you are living in NZ and paying your loan back, no interest is charged in your student loan,

If you are not in NZ interest is charged.
----

One thing there is no reason to pay back the loan early, so you just make the minimum payments which automatically come out of your wages. If there was an insenive to pay it early i would have, but since there wasn't, i took 5 years to pay back $12,000.

Note: i only just finshed paying my student loan back, earlier this year, so this is from my expernice

[MisterD]

The fairest (as well as simplest to administer) would be to stop the interest-free status of student loans but make repayments for an NZ resident tax-free (ie they come straight out of your wages before tax).

They should do the same thing for contributions into a personal pension scheme too, but that's another discussion....

[sidecar bob]

This government has gone insane. 'We want 10 billion back from those bludging students. The good ones have already left, so we'll chase the fair to middling ones away as well by charging them interest."

That'll work.

I guess theyre only trying to pick up the pieces that the previous Santa Claus government left them, as best they can.

[James Deuce]

This happens now, if you are living in NZ and paying your loan back, no interest is charged in your student loan,

If you are not in NZ interest is charged.
----

One thing there is no reason to pay back the loan early, so you just make the minimum payments which automatically come out of your wages. If there was an insenive to pay it early i would have, but since there wasn't, i took 5 years to pay back $12,000.

Note: i only just finshed paying my student loan back, earlier this year, so this is from my expernice

No it doesn't. Norway have organised treaties with most countires that their ex-pats go to, including NZ and Australia. Their loan doesn't sit at home accruing interest, the relevant country's tax authorities extract it from the ex-students income in their new found homeland.

It's easy to evade a NZ student loan. Get naturalised in your newly adopted country and never, ever come back.

[RantyDave]

I guess theyre only trying to pick up the pieces that the previous Santa Claus government left them, as best they can.
I note that nobody is saying this about ACC.

[RantyDave]

Norway have organised treaties with most countires that their ex-pats go to, including NZ and Australia.
We have tax treaties (double tax agreements) with most of the major players. No doubt we could tag this on...

[Mully]

Do what Norway does. Your student loan costs you nothing if you stay at home, earning and paying tax.

Go live overseas and you have to pay it back with interest.


I've been thinking almost exactly the same thing for about $5 Billion....

You work in NZ (in the field you studied in) and a percentage of your loan is wiped annually, say 10%.

Doctors or teachers in hard to staff areas could get more, say 15% per year

I don't know why it wouldn't work - it's not like they're ever going to collect the vast majority of that $10 Billion now.

[Swoop]

Seeing more attention given to those "students" who enrol on a course and then have sporadic attendance (at best) and then fail the course, would be nice. Why they should be entitled to taxpayer funding for this "lifestyle choice" is perplexing.
The student allowance provides part of their income while they work on "other enterprises" and have a jolly good old time.

[Thaeos]

Seeing more attention given to those "students" who enrol on a course and then have sporadic attendance (at best) and then fail the course, would be nice. Why they should be entitled to taxpayer funding for this "lifestyle choice" is perplexing.
The student allowance provides part of their income while they work on "other enterprises" and have a jolly good old time.

Except the vast majority of students aren't eligible for the allowance, and as far as I'm aware if you don't consistently pass at least 50% of your papers, then studylink doesn't pay your fees anymore.

[Hopeful Bastard]

As a student who was attending a course and on Student allowance/loan i think some of the replies here are rubbish and the course that the government fags are taking is bullshit. I left my course after completing the first half, Which, I have been awarded for with a Certificate in that course. Just didnt finish my diploma status.

I wasnt having a Jolly good old time. i was only getting 160 a week on student allowance. Take board of 60 out of that. then take fuel of 60 out of that. and then take out the cost of buying food for lunch outta that and the occasional field trip. I was left with about $2 a week. Sometimes, I was left Overdrawn.
Since my leaving, I have continued to get my student allowance which as soon as i find a job, I WILL be paying back.

Dont think i have earnt your hard payed tax? I worked for 2 and a half years. And since i left my course i have been looking and looking for a job. So i am sorry if you feel nothing but anger towards me. But how about you leave your job and lose money each week. And then try and get back into the workforce WITHOUT going back into the industry you just came from.


Now, For the government. I bought my bike so i would be able to SAVE money to pay back their stupid loan. So if they want their money back, They can take it the $300 extra i would be paying outta my rego!

[Hopeful Bastard]

Except the vast majority of students aren't eligible for the allowance, and as far as I'm aware if you don't consistently pass at least 50% of your papers, then studylink doesn't pay your fees anymore.

The majority of students that arent available to get a loan is mainly due to their parents earning too much. ;)

[SPman]

The majority of students that arent available to get a loan is mainly due to their parents earning too much. ;)
It was $50,000 a year (gross). If the parents were divorced, it was still $50k a yr between both of you.

[p.dath]

Do what Norway does. Your student loan costs you nothing if you stay at home, earning and paying tax.


How do they manage to get people living in a foreign jurisdiction to make payments?

Doesn't sound like it would work to me. Those people would just laugh.

[scissorhands]

I worked when I did my tertiary training and didnt need a loan.

It was an apprenticeship

Why dont students have work components at relevant tasks built into the course. They'll finish their studies in the real world

[gatch]

There was a wishful rant up on the notice board at work, went something like this..

Give everyone in the workforce over the age of 50, $1,000,000 and force them to retire. (opening up a million job vacancies, employment issues solved)

It is mandatory to bank the money if you want it. ( banks credit and loan issues solved).

It is mandatory to send your kids to school and uni (stupid kids fixed)

It is mandatory to purchase health insurance (hospitals fixed)

Mandatory to buy at least $50 in booze and/or smokes a week (government rakes in taxes)

Mandatory to buy a new car (get rid of shit old imports..)

Etc etc etc

The figures are made up I'm sure but it seemed a pretty novel approach to get the country out of the toilet.

[Gremlin]

The solution is simple.

Do what Norway does. Your student loan costs you nothing if you stay at home, earning and paying tax.

Go live overseas and you have to pay it back with interest.
National already floated this idea a couple of years back... Labour called it slavery. I think its a good idea. A years work in NZ for a year of your loan paid, or whatever.


This happens now, if you are living in NZ and paying your loan back, no interest is charged in your student loan,

One thing there is no reason to pay back the loan early, so you just make the minimum payments which automatically come out of your wages. If there was an insenive to pay it early i would have, but since there wasn't, i took 5 years to pay back $12,000.
Well, I can't be 100% certain they are not charging me something... you tried making head or tail of the statements (when they actually send one... come to think of it, I haven't had one in probably at least a year)? :blink:

I'm surprised you paid it back so quickly. 3.5 years later, I've barely bitten into the $12k, owing something like $10k +. Why? I make the minimum required payments based on income. Why? Its cheaper. With inflation and interest on money in the bank, its actually costing me less and less to have the loan.

Governments... :woohoo: :shutup:

[flyingcr250]

my mate did his medical degree at otago uni, racked up a $150,000 student loan, new zealand salaries were crap so he, hopped over to the states and now lives very comfortably, oh and hes not paying a cent on his student loan. he said " im never going back to that crap hole country ever, fuck new zealand"

i tend to agree with him

[gatch]

hes not paying a cent on his student loan.


What a homo ! Good on him for heading off to greener pastures buts its the shit attitude like that, that is going to make it harder for future students..

[James Deuce]

How do they manage to get people living in a foreign jurisdiction to make payments?

Doesn't sound like it would work to me. Those people would just laugh.

You didn't read my original post did you?

Norway has a treaty with NZ and Australia and they tell the relevant tax authorities in each country how much they need to deduct from a person's pay and send to the Norwegian government. It's very simple, just like the British Armed Forces Pension that the UK pays NZ that NZ doesn't pay on to ex-UK servicemen and women.

The person owing the loan, doesn't see the money, it's a transaction at government level. That's what the treaty is about.

[James Deuce]

There was a wishful rant up on the notice board at work, went something like this..

Give everyone in the workforce over the age of 50, $1,000,000 and force them to retire. (opening up a million job vacancies, employment issues solved)

It is mandatory to bank the money if you want it. ( banks credit and loan issues solved).

It is mandatory to send your kids to school and uni (stupid kids fixed)

It is mandatory to purchase health insurance (hospitals fixed)

Mandatory to buy at least $50 in booze and/or smokes a week (government rakes in taxes)

Mandatory to buy a new car (get rid of shit old imports..)

Etc etc etc

The figures are made up I'm sure but it seemed a pretty novel approach to get the country out of the toilet.

1 million is small change and a 50 year old with dependent children would be living in a cardboard box on the street at 65 under those conditions.

[Grahameeboy]

my mate did his medical degree at otago uni, racked up a $150,000 student loan, new zealand salaries were crap so he, hopped over to the states and now lives very comfortably, oh and hes not paying a cent on his student loan. he said " im never going back to that crap hole country ever, fuck new zealand"

i tend to agree with him

Sad this happens but fair enough...why should Dr's & Nurses have to pay to be trained when they are a vital part of what NZ needs...the Govt would be better off waiving the fees and keeping these guys NZ...

In the UK this is what Nurses get

"Those who undertake an NHS funded degree course receive a means tested bursary. Your tuition fees are paid, but the grant allowance you receive will depend on your income or that of your partner/parents.
Those who undertake an NHS funded diploma course receive a non oncome assessed bursary, which currently stands at £6,372 (£7,443 in London). Depending on your circumstances, eg, if you have children, you may be elligible for extra allowances"


In NZ it appears that you have to pay the course fee....


In the UK my friends Son just needed living support from my friend and the rest was paid for by the Govt...


So the issue is should we not help people who want to work in essential services...

[Cajun]

Well, I can't be 100% certain they are not charging me something... you tried making head or tail of the statements (when they actually send one... come to think of it, I haven't had one in probably at least a year)? :blink:

I'm surprised you paid it back so quickly. 3.5 years later, I've barely bitten into the $12k, owing something like $10k +. Why? I make the minimum required payments based on income. Why? Its cheaper. With inflation and interest on money in the bank, its actually costing me less and less to have the loan.

Governments... :woohoo: :shutup:

Well they charge you the interest, then write it off end of each year. sorta thing, its pretty easy to read/understand there statments. I didn't bother looking first few years, more last couple to try and figure out how long it take to finsh paying off.

Didn't do anything funny, just minium payments out of wages, and paid it off. and now more money in my pocket each week.

[Dave Lobster]

Why dont students have work components at relevant tasks built into the course. They'll finish their studies in the real world

Because there's too much 'work' involved, maybe..

[Swoop]

As a student who was attending a course and on Student allowance/loan i think some of the replies here are rubbish and the course that the government fags are taking is bullshit. I left my course after completing the first half,
So you were genuinely studying and earning your qualification. I am referring to those others who you might have seen appearing from time to time in your classes. These people are milking the system, especially when they manage to avoid studylink's radar...
Trust me, it does happen.