Free money for students!

[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??

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

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

[klyong82]

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

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 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 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.....

[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.....

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.