It has been more than 20 years since the student loan scheme was introduced, with numerous tweaks and changes made to it over time.
As one who benefited from the scheme in its early days, I still shudder when I think of helplessly watching interest grow while I was still studying.
Then again, those were the days when students could call a number and request X amount be deposited into their account for the weekend, no questions asked. For books, of course.
Read more: Student debt 'delays' adulthood
Since 1992, thousands of Kiwis have been able to further their education and get qualifications that they simply wouldn't have been able to get if it wasn't for the scheme. Some sign up having not fully thought through the consequences of accruing debt at such a young age. But most go into it with their eyes wide open, having weighed up the pros and cons.
An education always was and I believe still is an investment in one's future. It's certainly not a prerequisite for financial, career or life success, but a formal qualification under their belt gives many a leg-up. We report today how more than $190 million is owned under the student loan scheme in Rotorua.
That comes as University of Auckland sociology professor Alan France claims the growing level of student debt delays adulthood, increases social inequality and makes social norms, such as having children, a financial risk.
Tertiary Education Minister Steven Joyce hit back, saying the long-term benefits of tertiary study far outweigh the short-term cost of a student loan.
A student loan is a heavy burden - the day I made that final payment was one of the happiest of my life. But the bottom line is, without the scheme, thousands of kids will never get the chance to become what they dream of becoming.
Anything that opens doors, rather than keeping them firmly shut, has to be a good thing.