Told ya, but did ya listen?

We all told Labour this would happen , but did they listen, nope, no way they were too busy buying an election with our own money.

[quote]The reports from the Ministry of Education and Treasury also show the policy will increase the amount of debt and number of students taking out loans, and send voluntary repayments plummeting.

The reports, from October to December last year, reveal:

  • Voluntary repayments will dive 80 per cent from their current levels, meaning graduates are in debt for longer. Voluntary repayments currently account for 30 per cent of repayments, or $200m a year.
  • The number of borrowers will rise 26 per cent – 44,000 people – by 2010.
  • The total student loan balance, now at $7499m, will increase 50 per cent to $11,299m by 2010.
  • English said the reports showed the scheme will push more Kiwis into more debt which would take them longer to repay.

    "They tried very hard to convince the public that students are stupid and that they're not going to borrow interest-free money. But the government's own officials are telling them that the number of students borrowing will go up by 30%," English said.[/quote]


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