Maharey’s Student Loan Release 1/2 a Billion Short

Correction Number 1 - Maharey’s Student Loan Press Release Half a Billion Dollars Short of the Truth

“The Aotearoa Tertiary Students’ Association (ATSA) takes issue with the government claim in Steve Maharey’s press release today that “total outstanding Student Debt is at 30 June 2002 was $4.75 billion”.

CORRECTION: This is the total debt held by the Inland Revenue Department. The press release omits to mention that does not include the amount borrowed by students for study in 2002. Based on 2001 borrowing, ATSA estimates that Mr Maharey is $700 million short of the fact.

TRUE STUDENT LOAN DEBT: $4.75 Billion plus $700 million = $5.45 billion

“ATSA is looking to the government to further investigate the post study affect of the Student Loans Scheme,” said ATSA President Julie Pettett today. “We suggest a first good move would be for senior ministers to get their facts right and be honest. Misinformation served up as truth serves no good purpose.”

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