The truth about student loans

Liar-bour has been caught lying again.
This time it is yet again over student loans.
Bill English has released figures obtained by OIA request that show the staggering duplicity of the Liar-bour government.
[quote]Officials forecast a 27% increase in new debt by 2009, and that the number of borrowers will increase form 165,000 to 209,000. Total debt will be $300 million higher than under the existing policy.[/quote]
This is depsite Labour and its band of lackeys like Jordan Carter saying bollocks when National pointed out the staggering flaw in their student loan policy. 
[quote]officials hopelessly over-estimated the increase in the take-up rate when Labour made loans interest free during study, predicting that it would rise from 50 per cent to 90 per cent when in fact it rose by only five points to 55 per cent.[/quote]
Whoopsy…looks like Cullen got that wrong too. 
[quote]It turns out that the increase in student loans as result of the "no interest while studying" policy is much higher than the Government has let on. Before the election, Trevor Mallard said there was only a small percentage increase in the number of students borrowing as a result of this policy. However, an OIA request reveals the true story. Among full-time polytechnic and university students, 20% more borrowed when the new policy came in. Official estimates of a 27% increase for full interest-free loans look conservative.  [/quote]

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