6 April 2017
Getting a tertiary education is one of the most valuable investments we can make in our lives, but for many, the journey is a struggle.
As the average rent for a room in Auckland soars to $250 while the level of student support remains virtually stagnant, it’s no wonder why a third of students say they do not have the income to meet their basic needs. Since 2011, when the parental income threshold for eligibility was frozen, 24,000 fewer students have access to the Student Allowance. Today, only a third of full-time students receive a Student Allowance. The rest borrow week to week in order to live and add to the national student loan balance which now exceeds $15 billion.
When 78% of students feel that their debt will have a significant impact on their ability to save for their retirement, it’s clear that student hardship presents some very real public policy issues.
The Income and Expenditure Report 2017 aims to shine a light on the real cost of being a student in New Zealand. It gives us an insight into the trials, tribulations and anxieties of today’s students, as well as credible, representative data with which to make important decisions regarding tertiary education policy.
After reading this report, I hope you’ll join us in putting things right.