Friday, July 20, 2012

Always Moaning

The Herald reports:
More than 100,000 New Zealanders have overpaid a total of $6.4 million on their student loans.
And fresh from looking like wallys over the ProLife Auckland pamphlet, AUSA are at it again.
The system has been criticised by a students association, which says graduates are overpaying their loans because the system is too hard to understand.
These people are university graduates. If they are finding the system too hard, it is too easy to graduate in this country.
The president of the Auckland University Students' Association, Arena Williams, said Inland Revenue's system needed to be changed. "Everyone with a student loan has been through hours of fighting with Studylink while they were at university. There's definitely a perception that Studylink deliberately makes it difficult to manage your student loan," Ms Williams said.
They are lending student's thousands of dollars of others hard earned money, a few hours on the phone over a three year degree doesn't seem like that big a deal. All this fuss from AUSA over a median overpayment of $2.57 and 76% of overpayers having overpaid less than $20.

1 comment:

  1. Sorry to hide behind anonymous but this one got me. However did not read the original article in question but so maybe off beam here.
    Student Loans as administered by IRD are a mess. I had one, my kids have them and the system that was bad last century is still bad now.
    If you have a loan or know someone who has find out how much they owe to pay it off. Cannot be done. If you call they can't tell you and the statements are a joke. They do not conform to any other type of loan I have seen. You ask your bank how much you owe and they can tell you then and there to the cent and your statement actually has current information as of the date of the statement. Even when you have paid it off do you really know you have? Seems like arcane for the sake of it to me and even with my qualifications I cannot figure it out. Good luck to anyone who tries.