If you have a Student Loan from New Zealand, and you've no idea what to do about the rate at which interest charges are making it grow, listen to this interview ... it's important and finally, something helpful.
Kristina Andersen - Student loans ( 9′ 56″ )
07:10 Kristina Anderson is the country's only specialist adviser on going bankrupt to clear student debt. Student debt has now passed $14 billion and Anderson, from Auckland's Tax Hub Ltd, says it's time the country confronted the issue.
Know that a student loan can turn into 6 figures easily ... one person overseas has a $350,000nz student loan debt that is mostly made up of interest charges and penalties.
My $20,000nz student loan would have been $100,000nz by 2020. It's not as difficult as you can imagine. The New Zealand government needs to deal with this. New Zealand is a small island country with 4.5 million people ... and we're a people who have traditionally left for Europe after graduating.
Graduates often return to raise their families, bringing all that they've learned and earned while off the Island. As seen in something as simple and divine as NZ's truly superb cafe scene. There's not enough work for our scientists, for our graduates.
Belgian students pay about 1,000euro per year to go to university. New Zealanders, so far from the rest of the world, need to leave to get the experience that has made NZ an outstanding innovator in the world.
I'm so excited, and a little tearful, that this horrific situation is finally being addressed. Perhaps some of the 'kids' stuck out here can finally think about going home without being arrested if they try and leave again.