The Levy Institute of Economics' research shows that full student debt cancellation would put billions of dollars back into the economy.
Instead of paying back debts, bloated by interest and penalties, to the IRD, people could spend directly on goods and services, providing an immediate boost to businesses, and allowing the former student loan borrowers to plan for their future by saving for a home, baby, business or retirement. Other sectors of the economy have had billions of dollars poured in to keep them afloat. Helping those who are struggling, and providing a financial life raft, is the right thing to do. Student loan borrowers in other countries have been helped by their governments, why not New Zealand?
Instead of paying back debts, bloated by interest and penalties, to the IRD, people could spend directly on goods and services, providing an immediate boost to businesses, and allowing the former student loan borrowers to plan for their future by saving for a home, baby, business or retirement. Other sectors of the economy have had billions of dollars poured in to keep them afloat. Helping those who are struggling, and providing a financial life raft, is the right thing to do. Student loan borrowers in other countries have been helped by their governments, why not New Zealand?