News | Education
19 Feb 2020 2:04
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  •   Home > News > Education

    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


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