No Interest on Student Loans
Prime Minister Helen Clark and Education Minister Trevor Mallard today announced the second of Labour’s key election pledges: no further interest will be charged for those with student loans who reside in New Zealand.

Helen Clark said that this was a further important step in Labour’s policy to make tertiary education more affordable.

"In our first term in government, we stopped interest from accruing while students were in full-time study. Now Labour will scrap all future interest charges on student loans for New Zealand-based graduates from 1 April 2006.

"Under Labour, from 1 April next year, no interest will accrue on student loans. And from that point, students who borrow will only pay back what they have borrowed."

For more go to www.labour.org.nz

Student Loan Calculator
Find out what a difference Labour's policy of no-interest student loans will make to your loan repayments.

Go to http://www.labour.org.nz/Docs/loan_repayment_model6.htm