By Bella Craig of RNZ
A former IRD prosecutor is calling for changes to the student loan system so that Kiwis living overseas aren’t put off coming home because they’re worried about being arrested at the border.
In April, interest rates for overseas borrowers were lifted from 3.9 percent to 4.9 percent and the late payment interest rate for all borrowers to 8.9 percent.
Tax barrister Dave Ananth said this was putting people off returning to New Zealand at a time we should be encouraging skilled people to come home.
A pilot who’s been living in Australia for over 10 years has racked up a whopping $170,000 in student loan debt, most of it being interest.
After completing his training in 2014 he struggled to find work in Aotearoa, so…