NZUSA: Massive student debt increase since 2004

New research shows massive student debt increase since 2004

Average student debt[1] has risen by 54 percent since 2004 and is now $28,838 according to major new research released today by the New Zealand Union of Students’ Associations (NZUSA).

Other main findings of the research are:
- Average student debt is over 147 percent higher than in 1998
- Students are looking beyond the student loan scheme, to bank loans, overdrafts, and credit cards to pay for essential living costs
- Core living costs (food, accommodation, transport) have increased significantly
- 88 percent of students consider that student loans will impact on their ability to buy a house

Full Article: http://www.scoop.co.nz/stories/ED0801/S00025.htm