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Many New Zealanders abroad avoid returning due to unmanageable student debt, rising from $2.193 billion since 2011.
A growing number of New Zealanders abroad are avoiding return home due to soaring student loan debt, with a Green Party survey of over 400 overseas citizens showing 78% feel no progress on repayments and 82% are worried about their debt.
Overseas student loan debt has risen eightfold since 2011 to $2.193 billion, and overdue payments have increased from 52% to 71%.
The party blames inflexible repayment rules, a 2023 interest rate hike to 4.9%, and penalty fees for making debt unmanageable.
The Green Party is calling for a cross-party inquiry and has launched a petition to reform the system and encourage skilled New Zealanders to return.
Muchos neozelandeses en el extranjero evitan regresar debido a la deuda estudiantil inmanejable, que ha aumentado de 2.193 mil millones de dólares desde 2011.