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@JC because there isn't a shitshow of a higher level of funding for tertiary study imo. Fees free (should have been free last year of undergrad, not 1st) has only gotten moderate uptake. But it may pick up steam this year.
I reckon tinkering with the existing system is a better approach, but how you balance things for overseas v NZ based, and defaulters in either camp is challenging. -
@nzzp my workplace offets super or student loan contributions. It was a no brainer to stick with minimum repayments on the loan and crank the super $$.
Ugh, knew a mate from college who chalked up a 50k loan then bailed on uni without finishing. If you took living costs, the 1k(ish) for books etc, then your fees it adds up real fast. I think she ended up off the grid in motueka so who knows how that turned out.
Still, enjoyed my boozy end of first year hol in Fiji though. Lol my dad also got me to re-carpet the lounge via my loan as the rates were cheaper than the banks. Fair enough as I didn't have to pay rent 😁
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@nzzp said in Student Loans:
@Smudge said in Student Loans:
. My aunt and I have both encouraged her to have a stronger crack at paying back the loan, but it doesn't seem to be getting through. Still, it's her funeral (as long as I don't have to pay for the casket).
There's something to be said for ignoring it if it's interest free. Basically just an extra tax on income over a certain amount. I brought back a house deposit and a loan, rather than being broke and no loan. Made sense at the time
Oh for sure. But she's in Aus, so it's not.
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@Paekakboyz TBH, if those overseas showed a genuine ongoing commitment to paying back their loan, I would support the govt in lowering the rate or perhaps forgiving a certain amount of interest.
But those who are all 'WAH I took out a huge loan, haven't paid back a cent, won't talk to the IRD, ignored hoping it would go away and now I owe heaps and they will arrest me at the airport WAHHHHHHH' folk can all go eat shit.
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Yeah a glaring weakness of the scheme in my day was the lack of distinction between fees and expenses. Student fees are unavoidable. Expenses can be managed, but mostly, weren’t.
I’ve never forgiven the government for the clear holes in their Student allowance scheme. Nothing like watching you dairy farmers pals get picked up in a brand new SS whilst taking full allowance whilst your teacher parents pick you up in a 10 year old Corona when you get zero.
Then going to your other friends parents beachfront
Batch in pauanui for new years, who also collected full student allowance.That was my first real foray into establishment distrust.
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@MajorRage man, that brings back memories of unfairness of student allowance and means testing/parental income. Had a few in our circle with similar situations. Luckily they were generous folks 😁
Also remember how it was lump sum payments... can't recall the minimum but do recall how easy it was to call up and get money! I think there was a $50 admin fee so I'd take a larger amount rather than multiple withdrawals.
Jeez, it was pretty loose looking back on it!
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@Paekakboyz said in Student Loans:
means testing
Is an arbitrary system anyway, for student loans or anything else. It will inherently catch some that need help and won't get it, and vice versa.
The people that have worked hard and saved all of their lives, with all of the taxes that are associated with that, pay more - again. That is wrong IMO.
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@taniwharugby said in Student Loans:
Baycorp (are they still a thing?)
Yes. I had the choice of using them, or turning the hideous old witch that owes me money into some sort of clothing. The latter was repulsive (even though she deserves it), so I signed up with Baycorp.
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@taniwharugby This is an all NZ deal, but one of the questions to sign up was to do with the collections between the countries. Baycorp are in both but operate pretty independently it seems.
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@taniwharugby yeah, I meant more that IRD and the ATO should have an agreement that any Kiwi with debt should have the same 10% taken straight from their income. Try to get repayments happening before the big build up and eventual defaults.
When I still had my loan and was working in Oz, they were entirely reliant on me making semi annual payments (which I did, but it seems many did not)
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@Paekakboyz said in Student Loans:
@JC because there isn't a shitshow of a higher level of funding for tertiary study imo. Fees free (should have been free last year of undergrad, not 1st) has only gotten moderate uptake. But it may pick up steam this year.
I reckon tinkering with the existing system is a better approach, but how you balance things for overseas v NZ based, and defaulters in either camp is challenging.That’s not really answering my question. If people are concerned that the existing system is inherently unfair in some aspects, why not lobby a senior minister who is record of being philosophically opposed to it? At the very least he would be obliged to explain what has changed and why the parts of the system people like @voodoo dislike should stay. As with most things, if someone doesn’t like something they should work to get it changed.
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@taniwharugby absolutely
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@JC said in Student Loans:
@Paekakboyz said in Student Loans:
@JC because there isn't a shitshow of a higher level of funding for tertiary study imo. Fees free (should have been free last year of undergrad, not 1st) has only gotten moderate uptake. But it may pick up steam this year.
I reckon tinkering with the existing system is a better approach, but how you balance things for overseas v NZ based, and defaulters in either camp is challenging.That’s not really answering my question. If people are concerned that the existing system is inherently unfair in some aspects, why not lobby a senior minister who is record of being philosophically opposed to it? At the very least he would be obliged to explain what has changed and why the parts of the system people like @voodoo dislike should stay. As with most things, if someone doesn’t like something they should work to get it changed.
Whoa, hang on there buddy! If we actually got off our asses and actually lobbied for actual change, what would we complain about if we were actually successful??!!!
Student Loans