If ever there was a need for an explanation of why interest free student loans need to axed it is the entitlement essay written by Richard Meadow on Stuff.
Monday was a day of new beginnings. We celebrated the good lord’s rise from the grave with a three-day chocolate and hot-cross-bun binge.
In less joyous news, a new tax year began, and with it came a series of changes to the student loan scheme.
Monday marked the closure of a 10 per cent bonus for voluntary repayments made to your loan balance.
The minimum repayment was also raised from 10 cents to 12c in every dollar earned above the $19,000 threshold.
With these changes now in place, it’s time to reassess the smartest method for casting off your student debt millstone.
So what should you do?
Nothing at all. Read more »