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

[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.

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?

[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. ) 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?

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

[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 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

[Coyote]

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

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?