-
https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12300976
The ferald plumbing the depths again with that catchy headline
-
@canefan she is getting savaged on social media.
-
@taniwharugby said in Alternative needed from the absolute crap of stuff.co.nz:
@canefan she is getting savaged on social media.
-
@taniwharugby said in Alternative needed from the absolute crap of stuff.co.nz:
@canefan she is getting savaged on social media.
Her name is out there?
She sounds like an entitled moron . Blocked Ird five years ago and won’t pay a cent back until they let her decide how much she pays back .
-
@jegga well, the article on Social media and people are ripping into her....read a fair few and not one person had sympathy
-
@taniwharugby said in Alternative needed from the absolute crap of stuff.co.nz:
@jegga well, the article on Social media and people are ripping into her....read a fair few and not one person had sympathy
I wonder what the degree is she got for her $100000?
-
@jegga said in Alternative needed from the absolute crap of stuff.co.nz:
@taniwharugby said in Alternative needed from the absolute crap of stuff.co.nz:
@jegga well, the article on Social media and people are ripping into her....read a fair few and not one person had sympathy
I wonder what the degree is she got for her $100000?
Did the article say what her original loan was? It may have been way less than that when she took it out but if she's been accumulating interest for 10 years it will tick up pretty quickly I presume.
-
No defending her, but there is a generation of kids that got pretty shafted on fees and loans. We went from free tertiary study to charging thousands for fees and materials, with living costs heaped on top. And the interest rates were out of control, the same as anyone taking out an unsecured loan.
I finished uni in 1998 with a loan of $30k and change. Yeah I spent plenty of money on booze and non-uni stuff, but I also had a steady stream of jobs all the way through.
I did the overseas travel thing almost straight after uni, making almost no money, working shitty jobs, but having a blast. And before I knew it, my loan balance was $73k
I spent years paying the minimum and watching the interest build at double digit % rates. Luckily I was in the position to repay it in full a while back, but I can definitely see cases where people didn't get to that point. A few different career choices, and it would have been a crippling handicap.
It's probably too far out of hand now, but some interest rate relief for those that got stung with years of 10-12% interest (this was NOT the 80's) would have made a huge different to many people I suspect.
-
-
-
@Nepia said in Alternative needed from the absolute crap of stuff.co.nz:
@voodoo You were same generation as me, compounding interest from the day we took out the loan. The wrong f-ing 5 year period.
yup. I still have one, and it's still big, despite me making faithful payments every 6 months since i moved over here.
The interest is a killer. I have considered drawing against my house to pay it out, because i get charged less on a home loan
-
It's interest-free if you stay in NZ isn't it? There are a small minority who go overseas with no intention of paying back their loan, or contacting IRD, so you can understand the reason for having this rule. I had a small loan for post-grad studies which I paid back promptly while working in the US.
-
@voodoo said in Alternative needed from the absolute crap of stuff.co.nz:
@Nepia yep. It's hard to whine too much cos we knew the deal from the outset, but compared to other folk it was a raw deal!
Worth every minute of fun I had though!
I don't think we really knew the deal from the outset though back then as it was so early ... peeps can hate on Labour but they certainly made it easier for students to take out AND repay student loans.
@Bovidae said in Alternative needed from the absolute crap of stuff.co.nz:
It's interest-free if you stay in NZ isn't it? There are a small minority who go overseas with no intention of paying back their loan, or contacting IRD, so you can understand the reason for having this rule. I had a small loan for post-grad studies which I paid back promptly while working in the US.
Yep, interest free in NZ, but not sure why they don't allow an interest write-off for people who pay above the minimum from overseas, especially if the NZ job market has not been able to provide them with employment.
@mariner4life Probably a worthwhile thing to do if the wife is ok with that?
-
I see no justification for overseas based people to pay crippling interest whilst people in NZ pay none. If you're concerned about overseas defaulters, then toughen up on penalties for non-payment of principal (financial or other penalties). No need to also sting them with crazy interest, you're just ensuring there is a generation nof people who will never come home
-
-
I'd just like to point out that: yes I did enjoy free tertiary education and yes, I also wasted it spending all my time drinking and on other excesses, I did get arrested and convicted fighting for no fees on behalf of future generations
No need to thank me.
I do think there is a generation that got seriously shafted on fees. I also think comparisons across generations aren't valid because the whole landscape changed significantly.
-
@voodoo said in Alternative needed from the absolute crap of stuff.co.nz:
@Nepia probably right, can't say I though too hard about future repayments while I was at Uni!
I bloody did. Was the first or second year of student loans, came out with a farking telephone number. Really drove life choices - went overseas, but invested in my career working in the UK. Back then you had to pay back 1/15 a year, PLUSinterest that accrued. Not fun at all.
That said, the people getting arrested are those who refuse to engage with IRD at all. For years. You make your bed, you lie in it - I have massive sympathy for loan holders, but as someone said above - you know what you're signing up for.
I did contemplate getting married for the studenta llowance in my first year at uni. My mum would have killed me though, and I'm still not sure it wouldn't have been a good idea ...
-
@nzzp said in Alternative needed from the absolute crap of stuff.co.nz:
you know what you're signing up for.
While I don't disagree that we should all have known what we were signing up for I think financial literacy was way lower back then (compared with the current lot) and lots of us really didn't grasp the consequences.
-
@dogmeat said in Alternative needed from the absolute crap of stuff.co.nz:
I'd just like to point out that: yes I did enjoy free tertiary education and yes, I also wasted it spending all my time drinking and on other excesses, I did get arrested and convicted fighting for no fees on behalf of future generations
No need to thank me.
I do think there is a generation that got seriously shafted on fees. I also think comparisons across generations aren't valid because the whole landscape changed significantly.
Its created a huge debt bubble in the states and the argument it's not far away from being something that starts to hold their economy back is getting traction there.
This guy is a former Trump offical and his idea of making it fair for people who have already paid back their loans seems decentHow the ex-Trump official who wants to cancel student debt would fix higher education funding
A. Wayne Johnson, who resigned from the Education Department, on how he'd cancel student debt and change how the government helps fund college.
Student Loans
