Eleven Billion

[steve_t]

Is the student loan system contributing to the brain drain??

The people with "brains" leave the country and won't come back because then they will have to repay their loans.
Kinda discourages them working here really.

Oh man, so if I'd left the country, I wouldn't have had to pay it back?! Now ya tells me

[Smifffy]

Student loans will be treated in the same manner as unpaid court fines ...

You mean they will be wiped in return for 100 hours of community service that nobody ever does?

[superman]

Piss off I'm not paying back a cent. You know how expensive tertiary education is in this country?! Over $12,000 per year compared to free a few decades ago. Interest free student loans are the least student should get. I could very easily fuck off to central Europe and get tertiary education at a couple thousand per year but I would prefer here. But you know whatever, make people piss off at 18 rather than 23 not much difference except less would come back as they wouldn't feel indebted at all.

Though I guess NZ would be better off with immigrants than born here people anyway...

[Shadows]

Simple fix - make everybody who takes out a student loan surrender their passport until they have repaid their debt to society.

[Oblivion]

Piss off I'm not paying back a cent. You know how expensive tertiary education is in this country?! Over $12,000 per year compared to free a few decades ago. Interest free student loans are the least student should get. I could very easily fuck off to central Europe and get tertiary education at a couple thousand per year but I would prefer here. But you know whatever, make people piss off at 18 rather than 23 not much difference except less would come back as they wouldn't feel indebted at all.

Though I guess NZ would be better off with immigrants than born here people anyway...

The reason that foreign education has always been so cheap was because of the population. Over in Europe class sizes are something like 30-40. And here, our Minister of Edumacation wants to decrease class sizes. Purely for the fact that underrated teachers can't keep up with 30+ students.

And you think $12k a year is bad? A friend of mine quoted a student loan for his Bachelor Of Music @$120k over five years

[Brian d marge]

You mean they will be wiped in return for 100 hours of community service that nobody ever does?

Sign me up for a BA in Lesbian affairs , with hon ..and Inter-cultural studies , oh and wood work class , ( I was crap at wood work)

Stephen

[Brian d marge]

You mean they will be wiped in return for 100 hours of community service that nobody ever does?

Sign me up for a BA in Lesbian affairs , with hon ..and Inter-cultural studies , oh and wood work class , ( I was crap at wood work)

Stephen

BTW , I wonder who told everyone it was a debt .......... they government perchance???

[Gremlin]

I always thought a bonding system (need a Dr in a small town, write off 10% of the loans per year) would be the go.

National proposed this when in opposition a few years ago, Labour called it slavery. I completely agree with it. You get a subsidised education, you go wherever in the country the government needs you, and a % of your loan is wiped off for each year of service.

If you don't want to be a "slave" run through the normal system, and pay it back.

[Brett]

Paid mine back a few years back, now clocking up another with part time study, however pretty much paying it back each subsequent year. Will take a lot longer to kill the wifes one though, a hefty $100k.

[jazfender]

The culture of 7th form is that when you are finished you are going to uni. Generally those that drop out earlier are considered...drop outs. Even if you finish 7th but don't go to uni you're considered less favourably than those that are.

All through out the year you are bombarded with offers from universities with teachers and parents ramming that shit down your throat. If you don't go to uni -> loser. Uni is the only way for you to be a success. All your friends are going. Do this career test so you know which uni course to take. You can be that but only if you go to uni blah blah blah.

Everyone gets sucked into this whirlpool of bullshit. People go to uni that don't even want to. Or don't know what they want. Cases abound.

All this shit and it's fucking expensive. People talk about paying their loans off years, decades after they finish.

It's OK though right? Just take out a loan. Here's free money. This will solve all your problems and stop you from being left behind. Here you go, take this. This is the way. Little debt never hurt anyone. Remember you're going to uni, you'll be a success, you'll pay it off in no time...

More bananas dangled in front of the monkey.

Then reality hits. You grow and realise you're doing something you hate. Your degree doesn't mean shit. The job market wants experience, not a piece of paper. There's hundreds of others with the exact same piece of paper you have. The job you get isn't paying you nearly as much as you've been lead to believe. You're completely fucked if you even think about starting a family.

All this bullshit and you've still got at least 10k sitting to be paid back. If you're one of the lucky ones who can get a job in your field, your already low wage is crippled further by this burden. Not only that, you've got interest accruing if you leave.

Now some dickhead's blaming you for the economic issues the country's facing. Fuck that, go to Australia and don't come back.

Who the fuck wouldn't?

[marty]

The oustanding student loan (Loan= not a gift) is eleven billion dollars.
It was never a gift, how about you get off your educated arses and pay back what is not yours to keep. The NZ economy could well do with the money the Government 'loaned' you.
If I were to ever take out a loan for whatever reason, I would have to pay it back as per the contract that was signed at the time.

I pay 10k a year back off mine, so fuck off.

[marty]

Crikey! You are a Lucky soul to get that!

My costs went into transport, feeding myself etc..

She's quite a distance from Paraparaumu to the back hills in Levin 4 days a week..

I was lucky to get $200 a week on the Student Allowance. Any Living costs I received I have to pay back. Whilst studying, I was actually going backwards finance wise..

My son is in his second year at Waikato. He gets ZERO allowances. He works 30hrs a week to cover his uni and living expenses. We live far enough away from Hamilton to just be a pain in the arse - too far to commute, not far enough to receive any allowances. One of his flatmates however, whos parents milk 500 cows on a big farm (their own farm) in the south waikato (and have a 'very low income') gets full allowances for accomodation and living - not student loan allowances either!

[Indiana_Jones]

The culture of 7th form is that when you are finished you are going to uni. Generally those that drop out earlier are considered...drop outs. Even if you finish 7th but don't go to uni you're considered less favourably than those that are.

All through out the year you are bombarded with offers from universities with teachers and parents ramming that shit down your throat. If you don't go to uni -> loser. Uni is the only way for you to be a success. All your friends are going. Do this career test so you know which uni course to take. You can be that but only if you go to uni blah blah blah.....

Agreed.

-Indy

[Delerium]

Exactly, too many go because it's fun times on the governments bill. Performance based sliding scale interest rates / loan denial if you're really shit could be the way to go.

When were you last a student? FUn times on the govt bill. NOt bloody likely.

[-df-]

The oustanding student loan (Loan= not a gift) is eleven billion dollars.
It was never a gift, how about you get off your educated arses and pay back what is not yours to keep. The NZ economy could well do with the money the Government 'loaned' you.
If I were to ever take out a loan for whatever reason, I would have to pay it back as per the contract that was signed at the time.

And how much $$$ have those people brought into the country? How much more tax has been paid because people are earning alot more with their education?

If you want to live in a 3rd world country, by all means, devalue education.

Otherwise learn how the world works, and what is required to live in todays world.

Hell, $11b seems like a cheap investment in the future of the country (and thats even ignoring anyone paying any back) if you look at how long that took to rack up.

Lets look at the figures:

Earning potential in my area $80-$120hr. Take the middle, $208000 per year, paying a total of $59,560.00 in tax per year (double my loan amount when I left uni).

Earning potential of average NZer $35k (if I remember correctly that the average yearly income in NZ). Total tax paid; $5,145.00

Now spread that out over 40 years working, educated person, $2.38mil of tax paid in his life time of working, non educated person, 200k.

Which one is actually helping the rest of the country more??? sure it cost the country $30k initially, but within the first couple of years they have already paid their debt to society as some put it, so perhaps it’s the non educated that owe a debt to the educated as they are the ones paying the most tax and helping the country grow if that’s how you look at life (and I really hope you don’t).