Men and women pay back student loans at same time

Men and women are paying their student loans back in full at about the same rate of time, according to Statistics New Zealand figures released today.

Statistician Brian Pink said that 14 per cent of both male and female students who borrowed under the Student Loan Scheme between 1997 to 2003 had repaid in full by March last year.

However, Mr Pink said that because of the short period studied, the pattern of repayment may change when more data becomes available for analysis.

Students who borrowed in the six year period had an average balance of $13,000 by last March. Half owed less than $8570.

The report also said that Pacific and Maori borrowers had the lowest rates of full repayment, at 5 per cent and 7 per cent respectively.

- NZPA