John Key wants to increase your student debt
$11b student loan debt a disaster, says Key
Fresh calls have been made for interest to be reintroduced on student loans after Prime Minister John Key said student debt was a disaster economically. "If you're an investment banker – not that I am these days – you'd say it's a disaster of a loan book," he told students at Victoria University's Weir House yesterday. "It's $11 billion, roughly, at the moment and we collect 53 cents in the dollar, that's it. Fifty-three cents in the dollar. If you just sat there, logically, you'd say there has to be a better way of doing it."
Our boy in the bubble (John Key) says Student debt is a mess and National would like to increase it. I'm not sure what spooks me more, the desire to increase the debt burden on students or the fact that John Key keeps slipping into his 'If I was a merchant banker I'd do blah blah' mode. Newsflash to boy in the bubble, you aren't running an investment bank John, you are running the educational needs of a country you clown.
What is hilarious is that interest free student loans were created to help keep student in NZ rather than have them leave the country, remember that 'brain drain' National spent 9 years screaming about? Well apparently it's not so scary after all and National want to cut lose one of the few policies they have that can reward students who don't leave with their education for overseas.