Meanwhile, the Herald is blaming "bro culture" for that women take longer to pay off student loans than men.
The latest Education Ministry report on the student loan scheme says male students who graduated in 2011 will pay off their loans in an average of 6.7 years, but women will take a further six months.Hmm. Any guesses about something that might happen for at least some women in the first 5-10 years after college graduation that would mean an income-contingent loan repayment scheme might take longer for women than for men? Any?
The gap is far smaller than 2005, before student loans were made interest-free.
In 2005, men would take an average of 14 years and women 28 years to pay off their debts.
And recall that student loans here don't accrue interest if the debtor stays in New Zealand. If the numbers above are right, then inflation eats far more of female graduates' debt burden than it does for males. Think about it this way. If you owe a big pile of money on which zero interest is accruing, would you prefer to be able to pay it off really quickly or have it deducted from your estate on your deathbed? The longer the term of a zero-interest loan, the better for the borrower!
Update: Brennan McDonald points out that student loan balances are written off when the government sees your death certificate.