Seven Billion Dollars Too Much

Seven Billion Dollars Too Much

As Student Debt reaches 7 Billion dollars, Otago Polytechnic Student’s Association is giving the students a free lunch and a chance to write about their part of this seven billion dollar burden. Otago Polytechnic Students’ Association President Rachel Dibble said today, “ The student debt scheme is a burden on generations of graduates.”

Student debt is not only a burden on individual graduates but also a debt on our country’s future. This impacts on the New Zealand economy and the wider community. People are delaying having children, increasing numbers of graduates are forced overseas, and higher numbers of graduates are not getting mortgages because of student debt.

A large cause of the $7 billion dollar debt is because over two thirds of students are not eligible for a living allowance. “In other words,” said Dibble “borrowing to live means debt for life.”

Students are calling on the government to stop this ballooning debt by implementing a universal living allowance. “Students are not asking for the moon but simply the equivalent of the dole while studying” said Dibble.

Students will be greatly disappointed if there are not significant changes to the allowance eligibility criteria in the upcoming budget. Students will today be invited to write on a Debt Banner while enjoying a lunch that is not adding to their student debt.

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