News | Education
24 Sep 2020 7:29
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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


     Other Education News
     24 Sep: The Ministry of Education's accused of back-tracking on its promise to a Christchurch primary school
     22 Sep: Air New Zealand's ramping up its domestic schedule for the school holidays - to almost 90 percent of pre-Covid-19 levels
     19 Sep: One of the seven men arrested this week after allegations of historical sexual offending at Dilworth School is still a registered teacher
     18 Sep: The Principal of South Auckland's Chapel Downs School is reassuring parents they were told within minutes of news coming in of a student with Covid-19
     17 Sep: Investigations are underway into the school bus tragedy near Palmerston North
     16 Sep: Dilworth School is being praised for its cooperation into a sexual violence investigation
     16 Sep: A seventh man accused of alleged historical sexual offending at Dilworth School has appeared in the Auckland District Court
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