12 January 2001
News that WestpacTrust have offered graduates $50 million in cheap loans is great for students but highlights the
inadequacies of Government solutions to student debt according to Otago University Students’ Association President
Ayesha Verrall.
The bank is offering $20 000 loan packages with interest rates lower than CPI to help graduates pay back their loans.
“WestpacTrust should be congratulated for this constructive step towards relieving the burden of debt on graduates,”
said Ms Verrall.
“Presumably WestpacTrust is seeking to attract graduates to their bank through low interest rates. It’s good business
sense that the Government is yet to catch on to,” argued Ms Verrall.
“It ridiculous to think that a Government will not make the same investment in New Zealand’s workforce but a Corporate
Bank will.”
“It’s a pity the Labour-Alliance government cannot show similar leadership in confronting one of New Zealand’s most
worrying social and economic issues.”
Graduates still face 7% interest on their Government student loans
ENDS
Contact
Ayesha Verrall, OUSA President
Ph: 03 479 5332
Cell: 021 345 368