Debt Monster Thanks Pete Hodgson, as Student debt reaches $6 Billion
The Debt Monster is presenting Pete Hodgson, Dunedin North MP and Minister of Science and Technology, with a Thank You
card and present when he speaks at a forum in the University Union building at the Otago Campus at 1pm tomorrow
"Student Debt has just reached $6 billion dollars, which means that I am getting bigger and stronger, while students
have to borrow to pay for their two minute noodles! What can I say but thanks to the current Labour Government for doing
nothing to stop growth of student debt," chortled The Debt Monster.
" We call upon the Government to acknowledge the burden that Student debt places on New Zealand students, and to take
proactive measures to halt debt growth, reintroduce Universal student allowances, and revise the fee maxima scheme so
that it will lead to significant fee reductions for all students," said Mr. Nick Lanham, Otago University Students
Association President.
The present being given to Mr. Hodgson, is the Debt blanket, which represents approximately 1.5 million dollars of
student debt, from only 60 students currently studying at Otago University, or 0.00025 percent of the overall National
student population.
"How can the Government justify viewing student debt as an accounting asset, while the brain drain continues, and New
Zealand struggles to find enough skilled workers?" said Ms. Catherine May, OUSA Campaigns coordinator.