We hear from many people, now older and wiser, who didn't understand the burden, or the responsibilities, they were taking on when they signed up for a student loan in their teens. Had they known how the loan would grow they may never have got into debt in the first place. Had they been kept informed by Study Link or the IRD, they may have been able to deal with the debt while it was still manageable.
We need to do better for our young people. It is irresponsible to expect teenagers to understand the ramifications of what they are getting in to without help. There needs to be much greater emphasis on financial education for young people, true informed consent, and active communication from the IRD throughout the life of the loan. A loan is not necessarily a bad thing, but not knowing what you are signing up to is.
We are interested in ideas and offerings that can help reduce the need for student loans. Here are some:
We need to do better for our young people. It is irresponsible to expect teenagers to understand the ramifications of what they are getting in to without help. There needs to be much greater emphasis on financial education for young people, true informed consent, and active communication from the IRD throughout the life of the loan. A loan is not necessarily a bad thing, but not knowing what you are signing up to is.
We are interested in ideas and offerings that can help reduce the need for student loans. Here are some:
- Apply for an apprenticeship.
- Guaranteed fixed price fees at Lincoln University.
- Zero fees at the Southern Institute of Technology.
- If you're going to invest thousands in a degree, it is wise to check that your future career is one that will not vanish through automation or being shipped off shore. Here are some ideas.