Scoop has an Ethical Paywall
Licence needed for work use Learn More

Education Policy | Post Primary | Preschool | Primary | Tertiary | Search

 

Westpac’s Bittersweet Valentine to Students

Westpac’s Bittersweet Valentine to Students

“Students cannot help but be cynical over new plans from the Westpac Trust to offer graduates low interest rates for their loans” stated Aotearoa Tertiary Student Association President Keith Clark. This statement follows the Westpac Trust announcement of low interest loans for graduates to cover outstanding student debts.

“Westpac Trust does not have a great track record when it comes to supporting students in general. While looking attractive, $50 million is really a drop in the ocean compared to the $4 billion that is tied up in the loans scheme” advised Keith Clark.

“Studies show that once tertiary study has been completed that 90% of students stay with their banker for life. This is Westpac’s attempt to cream off the best credit risks from the government scheme” stated Keith Clark.

“None of this is Westpac’s fault” said Clark. Successive National and Labour Governments have mismanaged the student loans area from the start. Students have maintained that the interest rates charged on the student loans scheme have been exorbitant. If a commercial bank can offer these rates then government needs to rethink its entire current strategy.

ATSA urges that the Labour/Alliance Coalition move to discuss different options with students. Students are willing to talk at any time to reduce the debt burden.

ENDS

For Further Comment Contact:
Keith Clark, ATSA National President
Cell phone 025 756 526

Advertisement - scroll to continue reading

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.