Facts ruining Opposition's student loans platform

  • David Carter
Senior Citizens

The facts about student loans are undermining one of Labour and the Alliance's main election platforms, Associate Education Minister David Carter said today.

"As information about the up-take and extent of debt is publicised, New Zealanders are seeing though the Labour and Alliance myth-making over student
loans.

"The fact is that just under half of all students take out a student loan. Of those who do take out a loan, most borrow less than $10,000. In fact 58% of all borrowers have loan balances with the Inland Revenue lower than $10,000. The lion-share of student loan borrowers, 83%, have loans under $20,000. The really big myth killer is the fact that less than one percent of borrowers have loans over $50,000," Mr Carter.

"National MPs are finding as we door-knock, attend meet-the-candidate meetings and go on tour on the National party bus that people do want to know about student loans. But as soon as the facts are explained you can see the relief.

"The dishonest portrayl of the student loans scheme by the Opposition could backfire. It's like Peter and the Wolf, the more Labour and the Alliance falsely paint the loan scheme the more New Zealanders will be sceptical about
all their other pledges, promises and scaremongering," Mr Carter said.