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17 Feb 2020 20:01
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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
     17 Feb: The Prime Minister says pumping 11 million dollars into tourism is just a start - as the coronavirus effect kicks in
     17 Feb: A key KiwiSaver figure who oversees hardship claims is playing down the significance of last year's record number of claims
     17 Feb: A record number of people have taken a bite out of their Kiwisaver to satisfy financial hardship
     16 Feb: A plea for a funded problem gambling service in Gisborne
     16 Feb: Joint calls to challenge proposed changes to the Residential Tenancy Act..
     16 Feb: The Greens are signalling their direction for the next election, with the selection of an anti-poverty campaigner to stand in Auckland
     15 Feb: Angry locals have gathered at Mataura in Southland, to discuss what's going to happen to a stockpile of hazardous aluminium smelter waste being stored at the former paper mill
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