Student Loan Crack Down

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Forums › Finance and wealth management › Student Loan Crack Down

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#1565004 3-Jun-2016 12:46

nathan:

Did those multinationals break the law?

No. Ok, get the law changed.

That's the hard part.

Students shouldn't need to borrow money to go to Uni. John Key didn't.

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MikeB4

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#1565027 3-Jun-2016 13:12

Linuxluver:
nathan:

Did those multinationals break the law?

No. Ok, get the law changed.

That's the hard part.

Students shouldn't need to borrow money to go to Uni. John Key didn't.

So you are happy to pay more tax to fund it?

maxeon

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#1565053 3-Jun-2016 13:47

nathan:
Peppery:

This just makes me angry. I wouldn't feel sorry if they sent the debt collectors to her in Aussie.

It's a loan, not a gift.

As of next week the Australian version of IRD will be able to

Is there a new rule from next week that gives Australian version of IRD to do this? Just curious :)

shk292

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#1565057 3-Jun-2016 13:59

nathan:
Did those multinationals break the law?

No. Ok, get the law changed.

It's still John Key's fault - stop trying to change the subject, Dory

We should write off all loans until we've changed taxation law to close all loopholes. Except loans to rich pricks, we should double the interest on those

Benoire

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#1565102 3-Jun-2016 15:07

There was a story a little while ago when NZ was bringing in this law that stated that John Key had asked the UK if they wanted to partner up (like the aussies are doing); they said no quite emphatically so don't expect the UK to cooperate any time soon; UK/NZ do not have any reciprocal rights when it comes to finance and tracking down...

BTR

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#1565110 3-Jun-2016 15:16

shk292:

nathan:
Did those multinationals break the law?

No. Ok, get the law changed.

It's still John Key's fault - stop trying to change the subject, Dory

We should write off all loans until we've changed taxation law to close all loopholes. Except loans to rich pricks, we should double the interest on those

While I agree education should be free but how are we going to afford that, will you pay an extra $100 per week to supplement this?

Also how do you deal with someone that spends years at uni constantly changing their mind on what they want to study.

Sam91

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#1565121 3-Jun-2016 15:38

BTR:
shk292:

nathan:
Did those multinationals break the law?

No. Ok, get the law changed.

It's still John Key's fault - stop trying to change the subject, Dory

We should write off all loans until we've changed taxation law to close all loopholes. Except loans to rich pricks, we should double the interest on those

While I agree education should be free but how are we going to afford that, will you pay an extra $100 per week to supplement this?

Also how do you deal with someone that spends years at uni constantly changing their mind on what they want to study.

Exactly, I'm a student and I believe the current system is a good balance. Anyone can get a loan, therefore anyone can get an education. The current system holds you accountable. Make it free and you can just fart around without any consequences. Even with the current loan system, many do just that.

In saying that, certain qualifications should be heavily subsidised to address skill shortages.

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joshhill96

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#1565123 3-Jun-2016 15:46

I have a student loan, I didn't complete Uni, But it comes off my wages and I make some extra payments via on-line banking. People need to pay it back. No excuses.
I am heading on holiday to Rarotonga for a week at the end of the year, I have nothing outstanding apart from the loan, will I be stopped at the gates or does this apply to overseas based borrowers - that's the only thing that's confusing me.

Benoire

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#1565124 3-Jun-2016 15:48

joshhill96:

I have a student loan, I didn't complete Uni, But it comes off my wages and I make some extra payments via on-line banking. People need to pay it back. No excuses.
I am heading on holiday to Rarotonga for a week at the end of the year, I have nothing outstanding apart from the loan, will I be stopped at the gates or does this apply to overseas based borrowers - that's the only thing that's confusing me.

You're only stopped if you're in default and are not paying it... I.e. as you are paying out of your wages then you are fine as you are a normal person paying back their loan... What the crack down is targeting is those who have defaulted and live overseas for which NZ law for debt collection cannot apply.

mudguard

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#1565222 3-Jun-2016 16:49

dickytim:

myndlyz:

Why do some people take out a student loan and then when its time to pay back the loan claim that the rules are unfair. You have agreed to the loan so you agree to the terms and conditions.

Try that with a bank!

I would think that a bank would try and collect, fail, write it off after sending it Baycorp. Who fail to collect. Then after seven years it's gone. Unlike a student loan, that keeps on growing.

Not that I have any sympathy. The IRD are the last ones you want to annoy!

Linuxluver

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#1565223 3-Jun-2016 16:50

MikeB4:
Linuxluver:

nathan:

Did those multinationals break the law?

No. Ok, get the law changed.

That's the hard part.

Students shouldn't need to borrow money to go to Uni. John Key didn't.

So you are happy to pay more tax to fund it?

Absolutely. Bring it on.

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MikeB4

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#1565226 3-Jun-2016 16:51

Linuxluver:

MikeB4:
Linuxluver:

nathan:

Did those multinationals break the law?

No. Ok, get the law changed.

That's the hard part.

Students shouldn't need to borrow money to go to Uni. John Key didn't.

So you are happy to pay more tax to fund it?

Absolutely. Bring it on.

Then you should write to Mr Key and advise him of this.

geekiegeek

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#1565227 3-Jun-2016 16:54

Linuxluver:

MikeB4:
Linuxluver:

nathan:

Did those multinationals break the law?

No. Ok, get the law changed.

That's the hard part.

Students shouldn't need to borrow money to go to Uni. John Key didn't.

So you are happy to pay more tax to fund it?

Absolutely. Bring it on.

Raise taxes, that will help people afford houses.

While we are winding back the clock to free education we might as well bring back Muldoon, close all pubs at 11pm and put a price freeze on. Yeah lets all go back to the 70's :-)

SepticSceptic

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#1565229 3-Jun-2016 16:56

MikeB4:
Linuxluver:

nathan:

Did those multinationals break the law?

No. Ok, get the law changed.

That's the hard part.

Students shouldn't need to borrow money to go to Uni. John Key didn't.

So you are happy to pay more tax to fund it?

There seemed to be sufficient funds from taxes in the past to support a reasonable tertiary education system without overburdening the students with loans.

Now we are paying more taxes, and getting less benefit. Well, I'm getting less benefits. Hmm, in fact, I get no benefits. Seems every other citizen is getting some sort of benefit ...

waah

geekiegeek

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#1565236 3-Jun-2016 17:05

Yeah, but in the 70s/80s, I think there was a bigger tax base as all of the baby boomers were working and not retiring as they are now. Now taxes have to cover a larger number of retired people and things like working for families, building additional infrastructure for a larger population etc.

Personally, I pay a large amount of tax, and as I'm part of a two income no kids family, I get no benefit (I pay for my healthcare as well).

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