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27 Feb 2020 11:22
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  •   Home > News > Politics

    The stifling nature of interest rates attached to student loans, is being highlighted by a budget advisor

    The stifling nature of interest rates attached to student loans, is being highlighted by a budget advisor


    Auckland Airport
    Auckland Airport
    They're in the news following the arrest at Auckland Airport of a woman who'd come home from the United States.

    Students living in New Zealand have no interest on their loans, but there's a four-percent interest rate for New Zealanders based overseas, and eight-percent for late payments.

    FinCap CEO Tim Barnett says these rates can be overwhelming, especially if a person isn't working - and the debt can 'explode' by four or five times.

    © 2020 Newstalk ZB, NZCity


     Other Politics News
     26 Feb: An eighty million dollar lawsuit against ANZ will begin next week
     26 Feb: Leaked emails reveal Wellington's mayor and new council boss are coming under pressure to publicly front up, as the city's water woes reach 'crisis point'
     26 Feb: A defence lawyer says the Government has an obligation to rehabilitate prisoners, including letting them vote
     26 Feb: The Greens candidate standing in the Prime Minister's Mt Albert electorate, thinks prisoners should have the right to vote
     25 Feb: Wellington's National War Memorial reopened two years ago, despite suspicions it was earthquake prone
     25 Feb: More than five thousand people have signed a petition calling on Queenstown's mayor to make rental car companies accountable for drivers
     24 Feb: China is allocating 99.5 billion yuan -- or 22.3-billion-NZ-dollars -- to curb the coronavirus outbreak.
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