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Government cracks down on student loan debt

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Sun, 17 Apr 2011 10:20a.m.

Steven Joyce says the government plans to crack down on student loans (NZPA)

Steven Joyce says the government plans to crack down on student loans (NZPA)

The Government is planning to tighten up the student loan scheme even further.

 Tertiary Education Minister Steven Joyce says he's been sending debt collectors to retrieve some of the $2 billion of unpaid student debt offshore.

 This morning he announced some new targets to further cut the amount of debt the government writes off each year - including looking at borrowers over the age of 55 and pilot training.

 Mr Joyce says some students living overseas are not prepared to pay their debt back.

 “Some people have just disappeared and don’t want to know. We had a doctor in Australia who was highly offended when we contacted her about paying back a large amount of money owed on her loan. I don’t have any sympathy for that approach and I’m determined to chase that down.”

 Mr Joyce is also considering ways to reduce the cost of loans to people who want to be pilots. He says they are costing about $30 million a year.

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Comments

17 Apr 2011 10:57p.m.

scott wrote:

michael potter, I agree that debt collectors are a undesirable option. Within NZ the current IRD method of collecting back student debt is much nicer. However offshore legally debt collector are virtually the only option the NZ government has if people don't make there re-payments. Why would you expect better treatment from the NZ government than any other creditor you default on. The student loan is pretty generous anyway. I does seem strange that a person with multiple serious driving convictions is our (roads focused) minister of transport.

17 Apr 2011 06:27p.m.

Chad wrote:

Good. Labours election bribes that have cost NZ dearly.

17 Apr 2011 04:03p.m.

Anti Baby Boomer wrote:

Why doesn't Joyce and all the other parked up boomers show how committed they are to ensuring that everyone pays a fair wack and offer to pay for the degees that they were afforded that the tax payer paid for. Fat chance, their indignation only extends to those who have come after them.

17 Apr 2011 02:52p.m.

michael potter wrote:

what a low beast ,sending debt collectors around.
who is this guy ,the mafia.
we need to sack this gov't now .

17 Apr 2011 12:08p.m.

michael potter wrote:

to send in debt collectors means he is giving all these people a bad credit rating that could effect their lives
and even their families. another sign that mr joyce has not left his hard nosed business attitude behind sinse coming into politics. he is a convicted DIC causing injury to others ,he should have learned by that but here he is causing havock amonst our brightest . should resign.

17 Apr 2011 12:04p.m.

cyril wrote:

And so they should. There student loan is there investment in there future like a shopkeeper buys a shopor a mechanic buys his tools and generally it gives them access to large incomes. Like the kiwi doctor in OZ, hes 39 making $300,000 au a year and still has a student loan he hasnt paid back, you cant tell me he cant afford to pay the price of what is probably less than the cost of a family car from an income like that.

17 Apr 2011 11:29a.m.

insider wrote:

Where are all the jobs you incompetent thug.