Ten billion dollar student loans. Pay ya bills you lazy Gen Yers.

[tri boy]

Oh hell yeah. I can't wait for my "old codger" years. All these dopey Gen Y muppets with huge student loans, and NO jobs to help pay them off.:woohoo:
I'll be able to have a string of servants, cleaning windows, stained jocks, and my fleet of m/cycles (one day), for the princely sum off.......F**K ALL.
Mmmwwhhaaahhaa, keep paying the minimum- boy's n girls, my future comfort depends on it.:devil2:

[Ragingrob]

Just curious, did you have to pay $400 per paper when you were at uni?

[Coyote]

Currently got a $5000 loan for my Auto Refinishing course. I plan to pay it off as quickly as possible before National get rid of the no interest deal.

I'm not lazy, I've gone off to do a trade. Unlike a lot of people I know that have gone to uni for the sake of going to uni and are doing some bullshit course that won't land them a job. Worst of all, when I say to anyone I'm doing this course, they all think I'm a Neanderthal that isn't smart enough to go to uni :rolleyes:

People are idiots.

[Coyote]

Another thing, 'Generation Y' was created by you guys. Kids are idiots because you don't teach them correctly and don't punish them properly. You blame all the bad stuff on us and claim everything good as your own doing. In the words of my generation: fuck that shit!

[yod]

i hate generalisations

[tri boy]

Just curious, did you have to pay $400 per paper when you were at uni?

Nah. Spent every penny on booze, loose young women, and tools for my trade. Oh and fuel/parts for my bikes.
They were tough times back then.:rolleyes:
$400 a paper:crazy::crazy: Whats a packet of zig zags worth now?

[Nade]

bbwwahahhah I had a student loan.....for an engineering BMETS course. Got me a job etc. Then I joined the RNZAF, worked solidly and the loan got paid off. Worked for me.

[Jeremy]

$400 per paper? ...

Mine are $770 each for post grad CompSci.

[Ragingrob]

Well I'm 3rd year Uni and have about 11 grand student loan. In terms of interest, I'm pretty sure the loan you have already can not suddenly have interest gaining on it since the loan started in the no interest period. I plan to pay it back after uni, not in a rush but not too slowly... It's not THAT much money if you're actually working.

But we all know it's bullshit the prices of education these days... Ha, we pay hundreds for each paper right, then first week expected to spend about $150 for each course's textbooks and coursebooks etc, then expected to pay for some kinda transportation, so the council thinks it's a good idea to remove all parks on Symonds st (the main road at Uni). I dunno why the country wants all it's upcoming workers to start off careers with thousands in debt?!?!

[tri boy]

Loan debt growing by $1 Billion a year. Don't pay it off too slowly.:nono:
I understand that tertiary ed is a money pit, but restraint now will pay dividends in the future.
(and by the way, some trade people spend as much on tooling as uni students spend on books/papers):mellow:

[Usarka]

Another thing, 'Generation Y' was created by you guys. Kids are idiots because you don't teach them correctly and don't punish them properly. You blame all the bad stuff on us and claim everything good as your own doing. In the words of my generation: fuck that shit!

Ah, so - Gen Y blame everyone else for everything because it is actually everyone elses fault! :lol:


It can't be easy starting your working life up to your scrot in debt....

[98tls]

Oh hell yeah. I can't wait for my "old codger" years. All these dopey Gen Y muppets with huge student loans, and NO jobs to help pay them off.:woohoo:
I'll be able to have a string of servants, cleaning windows, stained jocks, and my fleet of m/cycles (one day), for the princely sum off.......F**K ALL.
Mmmwwhhaaahhaa, keep paying the minimum- boy's n girls, my future comfort depends on it.:devil2: Whilst we are talking things that wont happen can we cut the you have as many children as you like and dont worry we will keep giving you money benefit:Pokey:thing is i have no interest in paying for peoples children at all and find it well weird that i have to.

[Rogue]

A lot of Gen Y's finishing Uni/studies with a huge amount of debt :(

Man thats got to be depressing starting off in life being in debt :crybaby:
Gen Y's you can blame the bastards that got their education for free :katman:

You could bugger off overseas and never come back :chase:
Let the man cry over their lost revenue :lol:

If you stay here thats your choice dont complain get on with life Thats the way it is
:beer: :scooter::rockon:

[Mully]

$400 per paper? ...

Mine are $770 each for post grad CompSci.

Pfft, amateur. My postgrad at Auckland Uni are $1900 each. Last fricken one starts next week.

Hurry up students, pay it back so we can give it to the Maori

Waits for Steam to come along.... You're all welcome

[Steam]

Waits for Steam to come along.... You're all welcome
Kia ora mate! hehe.

I paid my $40,000 loan off in a year, I went to Taiwan and taught English for a hellish year.


.. I plan to pay it off as quickly as possible before National get rid of the no interest deal...

National now support the interest-free student loan system. Although whether they'd keep that policy after their election is a different matter.

[marty]

I am doing a c-cat flight instructor course at the moment. The others doing the course are on a student loan, but have full time jobs also (they're on LWOP at the moment). On their return they will be paying about $100/week off their loan. If the govt was serious about paing off student debt, it would match the payees payment (taken as 10% of gross after the $18k threshold is removed) with a payment out of the payee's tax take - effectively paying the loan off twice as fast. the payee would not see the matched amount, still pay as much 'tax', but the cost of the loan would be significantly less - on that note, where has the $$ come from in the first place? govt coffers? or has it loaned the money from China?

[sAsLEX]

Think my BE was 5+ k a year....... not really sure as I didn't pay!



bbwwahahhah I had a student loan.....for an engineering BMETS course. Got me a job etc. Then I joined the RNZAF, worked solidly and the loan got paid off. Worked for me.

Do it the other way around and the education is free! :niceone:

[Coyote]

Ah, so - Gen Y blame everyone else for everything because it is actually everyone elses fault! :lol:


It can't be easy starting your working life up to your scrot in debt....
Haha, got a point actually. But, a dickhead tagging a building, his fault for the tagging. Being a dickhead that tags things, misguided by idiotic parents that would rather be their best friend than a disciplinarian, their fault.

Not my fault I have to have debt when I start my working life. Your world innit? Haven't inherited it officially yet.

[sAsLEX]

Not my fault I have to have debt when I start my working life.

Yes it is. There is many ways to get around going into debt.

HTFU

[Coyote]

National now support the interest-free student loan system. Although whether they'd keep that policy after their election is a different matter.
I believe the rich will get tax cuts and multiple property owners will rest easy, but I really don't believe they'll stick to the interest free loans deal. Or at least they'll add more red tape to put people off.

[Steam]

...If the govt was serious about paying off student debt....

The govt sees the huge loans as an investment. It'll show returns some day, when the ex-students have to pay an extra 10% tax in compulsory payments.



...on that note, where has the $$ come from in the first place? govt coffers? or has it loaned the money from China?
Governments borrow money from giant, vast international banks. Like the IMF.

[Coyote]

Yes it is. There is many ways to get around going into debt.

HTFU
Apprenticeship would've been good, but I didn't want to try learn the subject with some prick of a boss looming over me.

People that really deserve the right to say 'harden the fuck up' would not be using a silly abbreviation or actually giving a damn in the first place.

[Oscar]

Another thing, 'Generation Y' was created by you guys. Kids are idiots because you don't teach them correctly and don't punish them properly. You blame all the bad stuff on us and claim everything good as your own doing. In the words of my generation: fuck that shit!

Shut up and go clean up your room.

[homer]

Currently got a $5000 loan for my Auto Refinishing course. I plan to pay it off as quickly as possible before National get rid of the no interest deal.

I'm not lazy, I've gone off to do a trade. Unlike a lot of people I know that have gone to uni for the sake of going to uni and are doing some bullshit course that won't land them a job. Worst of all, when I say to anyone I'm doing this course, they all think I'm a Neanderthal that isn't smart enough to go to uni :rolleyes:

People are idiots.

totally agree with you there m8
good idea you got

[Coyote]

Shut up and go clean up your room.
I really was expecting more people saying "yes I agree that these kids should be punished properly, rather than let them be arseholes because their parents think they're too precious to be told what to do. Well done for pointing that out".

As I said, people are idiots.

[Oscar]

I really was expecting more people saying "yes I agree that these kids should be punished properly, rather than let them be arseholes because their parents think they're too precious to be told what to do. Well done for pointing that out".

As I said, people are idiots.

...and for God's Sake put that dirty washing in the hamper!

[Coyote]

...and for God's Sake put that dirty washing in the hamper!
Don't think you understood me. Got your reading glasses on?

[Oscar]

Don't think you understood me. Got your reading glasses on?

When was the last time you changed those sheets?

[Ixion]

Just curious, did you have to pay $400 per paper when you were at uni?

In terms of the relative value of money, yes, probably. Different system, but i t still cost. If y' didn't have wealthy parents (most did) y' worked y arse off for bugger all all through the holidays to pay next eyars fees.


Oh hell yeah. I can't wait for my "old codger" years. All these dopey Gen Y muppets with huge student loans, and NO jobs to help pay them off.:woohoo:


Why on earth would anyone repay a student loan unless forced to? F' gawds sake, it's INTEREST FREE. Noone with an ounce of sanity is going to want to repay an interest free loan!

I'm seriously thinking of trying to take some course or other just to access an interest free credit line.

[Coyote]

When was the last time you changed those sheets?
Last time I had my 18 year old girlfriend over. Why's that?

[Oscar]

Last time I had my 18 year old girlfriend over. Why's that?

You wait 'till your Father gets home.

[Coyote]

I'm seriously thinking of trying to take some course or other just to access an interest free credit line.
Think you'll find the red tape a pain.

Studylink made very sure that they weren't paying me a sent more than they had too. The accessed my parent's credit ratings, made sure with Weltec the amount I claimed the course cost was the correct amount, etc. The only extra money I'm entitled to is up to $1000 for 'course related costs'. Haven't applied for it yet, haven't worked up the courage to deal with all that paper work.

[Mully]

Back on topic (ladies, handbags away please)

I always thought it was a good idea to write off a percentage of your loan (say, 10%) per year that you stayed in NZ and worked in the industry/job that you trained for.

For example, if you were a doctor, for every year you worked as a doctor in the public system, the government would write off 10% of your loan.

That way, you've done 10 years in the NZ public system, paid the government a lot of tax, and probably (after 10 years) settled in NZ and are unlikely to go off shore permanently

Any merit to that?? Or flaws??

[riffer]

Good intelligent idea Mully.

The pollies will never go for it.

[sAsLEX]

Apprenticeship would've been good, but I didn't want to try learn the subject with some prick of a boss looming over me.

People that really deserve the right to say 'harden the fuck up' would not be using a silly abbreviation or actually giving a damn in the first place.

Thats not the only way.

No one was over my shoulder for my degree.

[Dave Lobster]

Does everyone have to pay for higher education?

ie, do certain sections of the population get it for free?

[Finn]

$10 billion student debt. Never saw that one coming.

Stupid kiwi's.

[rachprice]

Think you'll find the red tape a pain.

Studylink made very sure that they weren't paying me a sent more than they had too. The accessed my parent's credit ratings, made sure with Weltec the amount I claimed the course cost was the correct amount, etc. The only extra money I'm entitled to is up to $1000 for 'course related costs'. Haven't applied for it yet, haven't worked up the courage to deal with all that paper work.

Man go for it just claim your buying a laptop, thats what everyone says!

My fees are 12,000 a year! 3 more years of it too!

[Hinny]

Does everyone have to pay for higher education?

ie, do certain sections of the population get it for free?

If we hadn't let the Australians pinch our Trustee Savings Bank they may have been able to finance Tertiary students the way the Southland Savings Bank do at SIT in Invercargill.

Another lost opportunity and another lost asset.

I believe Tainui are actually using some of their settlement money wisely providing free education at Waikato Uni or Tech.

My first degree was free and the second I actually got paid to go. Weeeohhhweeeeohhweee Chosen one.
One friend even got a special allowance to pay for his race car!

'Those were the days my friend, I wished they'd never end, we'd sing and dance for ever and a day. ( Mary Hopkins )

[inlinefour]

Oh hell yeah. I can't wait for my "old codger" years. All these dopey Gen Y muppets with huge student loans, and NO jobs to help pay them off.:woohoo:
I'll be able to have a string of servants, cleaning windows, stained jocks, and my fleet of m/cycles (one day), for the princely sum off.......F**K ALL.
Mmmwwhhaaahhaa, keep paying the minimum- boy's n girls, my future comfort depends on it.:devil2:

Go have a biarch to aunty helen. I paid mine off well before she stated that they was going to do the interest free deal and you think people are actually going to pay them off??? I was way pissed as my student loan was over the cost of a 1000cc superbike with all the best trimmings. Although it was good when I finally got the 600RR and had no student loan or finance on the bike either.

[tri boy]

Won't be interest free for much longer. Count on that.:whistle:

[The Pastor]

pay your loan off at $20 a week, same with the fines. You will never ever get anything like this again, so enjoy it while it lasts (although i'd reconmend saving a little per week for your loan and earning intrest off it so that if you ever need to make a huge payment to reduce your loan for what ever reason you can)

[Finn]

Back on topic (ladies, handbags away please)

I always thought it was a good idea to write off a percentage of your loan (say, 10%) per year that you stayed in NZ and worked in the industry/job that you trained for.

For example, if you were a doctor, for every year you worked as a doctor in the public system, the government would write off 10% of your loan.

That way, you've done 10 years in the NZ public system, paid the government a lot of tax, and probably (after 10 years) settled in NZ and are unlikely to go off shore permanently

Any merit to that?? Or flaws??

10 years of shit pay and a third world quality of life?

[Ixion]

Quote:
Originally Posted by Oscar http://www.kiwibiker.co.nz/forums/images/buttons/viewpost.gif (http://www.kiwibiker.co.nz/forums/showthread.php?p=1513411#post1513411)
When was the last time you changed those sheets?


Last time I had my 18 year old girlfriend over. Why's that?

Before? Or after ?

[Mully]

10 years of shit pay and a third world quality of life?

Yeah, well that's a point in the negative column.

[Rosie]

Even if the loans are interest free, the IRD are evil, and I didn't want to owe them money for any longer than was necessary.

I seem to remember that in the fine print of my loan (a few years ago, it may have changed since) it said that the IRD could recall your entire loan at any time, for no particular reason. The chances of that happening are probably very remote, but, with evil government departments, you can never be too sure.

[MisterD]

Won't be interest free for much longer. Count on that.:whistle:

They shouldn't be either, the sensible policy was the one National had before the last election where repayments come out of your wages before tax...

We've probably gone too far down the track to go back, but once upon a time University education was free, so only a few people got to do it (mostly) based on being bright enough and at the end of the day a degree meant something...now it's bums on seats and an undergraduate degree ain't worth shit.

[firefighter]

bbwwahahhah I had a student loan.....for an engineering BMETS course. Got me a job etc. Then I joined the RNZAF, worked solidly and the loan got paid off. Worked for me.

pffft........worked solidly in the RNZAF? :laugh: :beer: :drinknsin:rofl:

[Coyote]

You wait 'till your Father gets home.
I don't understand.

Thats not the only way.

No one was over my shoulder for my degree.
What's your degree?

Wasn't taught there was any other way except fellating my way to become a CEO.


I always thought it was a good idea to write off a percentage of your loan (say, 10%) per year that you stayed in NZ and worked in the industry/job that you trained for.

For example, if you were a doctor, for every year you worked as a doctor in the public system, the government would write off 10% of your loan.

That way, you've done 10 years in the NZ public system, paid the government a lot of tax, and probably (after 10 years) settled in NZ and are unlikely to go off shore permanently

Good idea, but the use of a doctor in your example isn't ideal. The doctor will be able to make up for that 10% loss overseas and they'll keep their own mental health as they do it.


One friend even got a special allowance to pay for his race car!

This guy was getting money from Tainui?

Before? Or after ?
After.

There was really no right answer to that one though, was there?

[Flatcap]

Students nowadays need to suck it up and just pay - I started uni in the early 90s, was the first year to pay fees, was the first year to have allowances moved out of reach, was the first year to pay interest on loans (before interest free loans the bastards), and had to pay everything back.

So I get very pissed off by these whining bastards

[Phurrball]

*snip*

So I get very pissed off by these whining bastards

Try increasing the size of your early 90's debt at least 4 fold, factor in all the increases in the cost of living, the fact that most are still supposed to live off $150 per week - and pay it back (the only sector of society borrowing to live).

Or try working 30 hours a week to exist miserably AND try and keep up with the workload of a heavy-duty degree when you're shagged after a 10 hour day in a shit job where you effectively take home around $10.50 an hour after deductions:

*Tax (no problems there)
*Kiwisaver (also good IMHO)
*Student loan repayments (no benefit from this yet - why am I paying now? I need that $20 to afford a bottle of milk FFS)

Throw in a few of life's curve-balls - health problems perhaps (try cancer for me and spinal fusion for my partner) and other supervening factors - you still get to pay for papers you couldn't sit 'cos you were recovering from surgery!

Perhaps then you'll know why we're pissed off.

I'd happily swap places with you in a heartbeat Flatcap.


They shouldn't be either, the sensible policy was the one National had before the last election where repayments come out of your wages before tax...

(snip) now it's bums on seats and an undergraduate degree ain't worth shit.

Thank you Nats for the latter part of your statement - the EFTS funding system.

The 4th Labour/first ACT government bent over the tertiary education system, the Nats then proceeded to f*ck it up the arse. AND they created our current low-wage economy.

I figure I'm 10 years behind where I should be due to continuing in my education - I don't have a snowball's chance in hell of having a house or family in this country if I don't do something drastic.

Looking at taking my degrees and doing some hard graft in the Aussie mines for a while to get back to where I should be - qualified Lawyer and microbiologist driving a dump truck in a hole anyone? Or teaching Engrish overseas?

Now there's a wise use of a decent education at two of NZ's best universities, paid for in substantial part by the taxpayer. Well-done previous 2 NZ governments.


$10 billion student debt. Never saw that one coming.

Stupid kiwi's.

[and]

10 years of shit pay and a third world quality of life?


Hate to say it, but I'm with Finn here. (Apart from the inappropriate possessive apostrophe. :bleh:) Print that statement out and frame it. It probably won't happen again.

Thank fark for my lovely Mrs, my cats and my bike. Without these, I'd curl up my toes and die of hopelessness.

[Nade]

pffft........worked solidly in the RNZAF? :laugh: :beer: :drinknsin:rofl:

Yes well....with all the exercise's....and PTSU...survival school....toil time off......as solidly as I could....:innocent:

[SPman]

In terms of the relative value of money, yes, probably. Different system, but i t still cost. If y' didn't have wealthy parents (most did) y' worked y arse off for bugger all all through the holidays to pay next eyars fees. Or you worked in the Freezing Works, if you had an in - (my Uncle was a leading hand in the chambers) and bought a bike with the tax refund.......

Looking at the cost of fees and books, adjusted for inflation, etc, it seems to me to be about the same as now - it's just that most people qualified for Fees and Allowances.........




Why on earth would anyone repay a student loan unless forced to? F' gawds sake, it's INTEREST FREE. No one with an ounce of sanity is going to want to repay an interest free loan!I thought it was only interest free, until you finished your studies? - then it kicked in at 9% or summint.


I'm seriously thinking of trying to take some course or other just to access an interest free credit line. With my ex wife as final arbiter in Student loans, you wouldn't have a shit show mate.......

[Mully]

I thought it was only interest free, until you finished your studies? - then it kicked in at 9% or summint.


Nope, interest free while you remain in NZ. Well, they charge interest and then write the interest portion off at the end of the year.

[LilSel]

I dont have a student loan :banana: Yay for me!!
I have a great job in the trade industry... n if I want to study... my work will pay for it.... there are ways without getting up to ya neck in debt.

[Flatcap]

I'd happily swap places with you in a heartbeat Flatcap.

.


As long as you don't txt your Gen Y blogging buddies for a BZP fueled party at the Flatcap palace

[Cajun]

my student loan goes down a few grand every yeah, don't see point paying it off early. its tax free, and as long as i pay minium payments that come out my wages ird won't come looking for me a lumpsum


will take another 4 years at least until mine is paid off. But mine is pretty small to most people, and having a good income also helps pay it off a bit quicker

[Phurrball]

What? ya think I can afford party pills?!

*I gotta make 'em from scratch by distilling down energy drink dregs from the uni recycling bins using a recipie I learned in my BSc*

Na - DVD and a quiet night at home safe in the knowledge I don't have work or lectures tomorrow is my favourite kind of evening. Anyhoo - I'm nearly 30, so that probably makes me Gen X does it not??

[mstriumph]

.......... Kids are idiots because you don't teach them correctly and don't punish them properly. You blame all the bad stuff on us and claim everything good as your own doing. In the words of my generation: fuck that shit!

s'funny ....... EVERY generation says that :rolleyes:

[Coyote]

s'funny ....... EVERY generation says that :rolleyes:
Because they're right. Each generation screws the next one up, except maybe after a world war.


It's sad that it's an 'us versus them' argument right now. Are we really to blame for how we have to deal with what has been given to us? You accuse us of shifting the blame?

[Hinny]

This guy was getting money from Tainui?


No, it was way before Tainui became endowed with $Millions.
This was a special allowance on top of his student allowance for extraordinary expenses incurred. Another got an extra allowance because she had an expensive hobby - Photography.

The we got a National govt.:crybaby: Hello student loans and goodbye graduates.

[Hinny]

a third world quality of life?

What country has a better quality of life?

[HondaRacingCorp]

Coz of inflation interest free student loans actually mean you end up paying back less actual dollars worth of value at the end of the day, pretty much like getting free money if you take as long as possible to pay it off.

E.g someone owes 50k as at today, but doesn't work and pay any off till 10 years from now, where that 50k will be worth a lot less, maybe equivalent of 40k in todays value, so end up the equivalent of 10k better off in todays dollar value. And if they are sly enough to invest the borrowed interest free money that 10k better off will look more like 15-20k depending how much they can afford to invest. (you can still get $150 a week if your working part time and earning another few hundy to live off).

Debt is so big now that more interest isn't going to do much, just make the figure of unpaid debt even bigger and grow faster, what I recon will happen is they will increase the percentage of wage taken to pay back the loan (think its min 10% now, so that'l prob go up). With banks paying 8% on savings, you would only ever want to pay off more than the absolute minimum if the student loan interest rate was above 8%

[Finn]

What country has a better quality of life?

You're getting standard confused with quality.

[Magua]

I shudder as my debt grows. Third year now, maybe another year for an honours degree to go before I can start making money. I'm avoiding living costs and course related costs now, pitty I didn't in my first year :@

[Oscar]

I don't understand.



You would if you spent less time chasing 18 year skirt and more time in class.

[Coyote]

You would if you spent less time chasing 18 year skirt and more time in class.
Haven't missed a day at Weltec and I've had the same girlfriend for a while so don't need to go chasing.

I'm surprised you haven't run out of generalisations yet. Wonder when you're going to mention cannabis and how I must get blazed all the time despite never having touched the stuff.

[mstriumph]

Because they're right. Each generation screws the next one up, except maybe after a world war.


It's sad that it's an 'us versus them' argument right now. Are we really to blame for how we have to deal with what has been given to us? You accuse us of shifting the blame?

i have difficulty in recognising who is 'us' and who is 'them' ......... unless, of course, we are talking about the French :innocent:

[McDuck]

Well i guess we will see what else will happen form governments to get us to vote for them. Bribes and all. Hopefully it will not affect me owning a kiwifruit orchard.

[Mully]

Hopefully it will not affect me owning a kiwifruit orchard.

You want to grow Kiwifruits?? Is one not enough??

[McDuck]

You want to grow Kiwifruits?? Is one not enough??

Well they are worth bugger all when by themselfs, you need a few thousand before you get any sor tof cash.

[Oscar]

Haven't missed a day at Weltec and I've had the same girlfriend for a while so don't need to go chasing.

I'm surprised you haven't run out of generalisations yet. Wonder when you're going to mention cannabis and how I must get blazed all the time despite never having touched the stuff.

Nah, someone who smoked ganja would have a sense humour.

[Hinny]

You're getting standard confused with quality.

Arrgh sorry, that one missed me.

Maybe I should ask what is wrong with our quality of life? Why do you describe it as 'Third World quality'?
That is of course making the assumption that third world life quality is inferior to first world.

I'm thinking, Pacific Island paradise v German Black Forest - killed by Acid rain.

I'm thinking free, fresh fruit off the trees; free, fresh fish from the ocean v Mega Malls.

I'm thinking........Joni Mitchell
'Don't it always seem to go
That you don't know what you've got
Till it's gone
They paved paradise
And put up a parking lot'
I'm thinking....Mainland Cheese ad.

That's enough thinking from me....
What do you think?

[k14]

Coz of inflation interest free student loans actually mean you end up paying back less actual dollars worth of value at the end of the day, pretty much like getting free money if you take as long as possible to pay it off.

E.g someone owes 50k as at today, but doesn't work and pay any off till 10 years from now, where that 50k will be worth a lot less, maybe equivalent of 40k in todays value, so end up the equivalent of 10k better off in todays dollar value. And if they are sly enough to invest the borrowed interest free money that 10k better off will look more like 15-20k depending how much they can afford to invest. (you can still get $150 a week if your working part time and earning another few hundy to live off).

Debt is so big now that more interest isn't going to do much, just make the figure of unpaid debt even bigger and grow faster, what I recon will happen is they will increase the percentage of wage taken to pay back the loan (think its min 10% now, so that'l prob go up). With banks paying 8% on savings, you would only ever want to pay off more than the absolute minimum if the student loan interest rate was above 8%
You obviously don't have a grasp on how the loan system works. You enroll with studylink and tell them you're going to x uni next year. Then when you enrol at said uni you say that studylink are paying your fees. Then studylink pay the uni direct without you ever seeing the money.

Then there are 2 other portions of the student loan. One is living expenses, which is a max of $150 a week. If anyone can live on that they are doing damn well. I just managed to scrape by with that and $50 a fortnight from the olds. No money to save there. Rent, bills and food sometimes leave enough for a jug at the pub on friday night.

Then there is the only aspect of the whole scheme that can be abused. This is classed as course related costs. You can get up to $1000 lump sum for books etc. All I did was get a quote from noel leeming or someone like that for a laptop and hey presto, my bank balance went up by $1000. Not that it did much use, yeah maybe $200 drunken away but the rest on important stuff like bike wof etc :rolleyes:

So if inbetween there you are able to stash away enough money to try and make a profit from the loan scheme then good on ya.

I finished uni with a loan of about $32k. Worked out at approx $10k a year. Now two years into my working life and I've paid off about $10k all from the compulsory contributions. No way I'm gonna pay off more than I have to seeing there is no penalty. Should be all gone within another 3 years.

IMO, the loan scheme is semi fair now. The whole structure of funding for students is screwed up. It only favors the poor and the very rich. The middle class students with parents who earn between 60-100k a year and have 2 or 3 siblings get screwed royally. Thats the catergory I fit into. I got asset tested against my parents income to see if I was eligible for the student allowance (the dole for people that go to uni). But since they earned over the stupid minimum (something like $45k) I wasn't allowed. They couldn't afford the $10k bill a year. So I had to borrow to live. Some no hoper looser on the dole doing nothing was better off that I was. Now I'm a contributing member of society and I'm still being penalised.

I don't have any qualms with having to pay course fees, thats fair game. I'd even be happy to pay interest on a loan to pay for that. What I have an issue with is that I had to borrow money just to live whilst I was gaining qualifications to give back to society in future years. Whilst rangi the bum sits on his arse watching tv all day and taking his free money from helen. The interest free scheme was a dirty bribe but its the only reason I'm still in this country. It would be a backward step to see it get reverted. National did make some mutterings about giving writeoffs for people that paid more than their compulsary amount back. That could have some merit.

[xwhatsit]

Mine is manageable, I hope. Still probably more profit in becoming some kind of tradesman or builder or summat; fuck I'd be bored, though.

[andrila1234]

I want to apply for an individual grant program to help me pay-off some debt. I know there are some programs that I need to apply to and write a grant proposal for in order to receive the grant, but where can I find these organizations? I don’t have any idea. Can you suggest any program that will help me with applying for and receiving grant money through the U.S. govt.? I will appreciate your help.

[vindy500]

i got a step up scholarship. the government are paying all my fees -1000 a year + $193 living allowance a week

[Ragingrob]

One question, how??

[vindy500]

filled out a form, have to qualify for allowance and be doing priority courses, i will be bonded to nz for 4 out of the 5 years following my degree

[brendonjw]

Was working hard and paying my fees off (mostly) year by year, then Labour did the intrest free scheme (which i actually opposed as i looked at the bigger picture of how it would effect NZ's economy VS the bums on seats mentality that goes on now) so i stopped paying my fees, got a loan, at the end of study took a bit of a holiday over to the States with the money i would have paid off my loan with, came back and started paying off the loan at the minimum amount. You would be foolish to pay it off at anything more than the minimum amount now, just put it into a bank account and let it earn interest, its what im doing, currently getting about $120 a month from interest which is great for fuel etc, money for nothing

[Shaun]

Nah. Spent every penny on booze, loose young women, and tools for my trade. Oh and fuel/parts for my bikes.
They were tough times back then.:rolleyes:
$400 a paper:crazy::crazy: Whats a packet of zig zags worth now?


And ya spent time being a DAM GOOD Race preperation mechanic for me mate