What's the latest on NZ student loans?
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What's the latest on NZ student loans?
Never did quite figure out if they were cutting back on student loan numbers or not ... did that ridiculous study thing by the AIA have the desired effect of keeping the gravy train on the rails?
Anyone from one of the big schools care to comment on how the 2004 student numbers are shaping up?
Anyone from one of the big schools care to comment on how the 2004 student numbers are shaping up?
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Yeah numbers where capped across the board, our friend across the way had his numbers capped to about 24 per course (2 year course), but don't qoute me.
Finally though the rush has begun and the airlines are struggling to get qualified pilots, but there isn't anybody filling the gaps because alot of these grads are been left shy and don't have MEIR.
The nature of the beast ay.
Hows life treating you over there Luke ST.
splat
Finally though the rush has begun and the airlines are struggling to get qualified pilots, but there isn't anybody filling the gaps because alot of these grads are been left shy and don't have MEIR.
The nature of the beast ay.
Hows life treating you over there Luke ST.
splat
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Airlines are quite often short of qualified applicants to fill vacancies.
The catch is in the qualified, which for NZ regionals varies from 3000TT / 500ME to 1000TT / 200ME depending on various factors.
It's actually quite like other industries.
"The industry is struggling to fill positions"
is codespeak for
"I advertised for one position and only ten people replied, and five of those don't meet my criteria."
Not being bitter (I have the hours required) - just have learned a thing or two about management-speak.
O8
The catch is in the qualified, which for NZ regionals varies from 3000TT / 500ME to 1000TT / 200ME depending on various factors.
It's actually quite like other industries.
"The industry is struggling to fill positions"
is codespeak for
"I advertised for one position and only ten people replied, and five of those don't meet my criteria."
Not being bitter (I have the hours required) - just have learned a thing or two about management-speak.
O8
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Aviation students get big debt but few fly into job
Aviation students are beinh sold "hollow promises", many racking up tens of thousands of dollars in student loans without ever find jobs as pilots, aviation operators say.
Helicopter students in particular had some of the biggest individual student loans - one Southland pilot owed $170,000 - but few operators were willing to take them on because of their lack of experience.
Malborough Aero Club chief flying instructor Kevin Wilkey said many students walked away from flight schools with the minimum number of hours needed for their licence without realising the difficulties of entering the industry.
"It's a great tragedy. These people are being sold hollow promises because some of them will never, ever get flying jobs." Mr Wilkey said.
His concerns were echoed by Motueka pilot Dick Deaker, co-oweer of Action Helicopters, who said he turned away young pilots every week because they lacked experience.
"Some of them owe thousands of dollars but we can't take them on because they have no experience and our insurance won't cover them."
"Many of them say they had no idea there would be no jobs going when they did their training." Mr Deaker said.
Pilots had offered to work for them for 12 months without pay, simply for the experience and to get more flying time in their logbooks.
Newly qualified helicopter pilot Jason Wright owes the Government more than $170,000 but after scoring himself a job as a instructor, sees himself as better off than most of his classmates.
While he paid an extra $85,000 to qualify as an instructor, most of his classmates got their commercial's pilots licence and went out looking for work, only to find they were not wanted.
"They were going straight out with their commercial licence looking for work and found their heads were below water." Mr Wright said.
The Government, concerned about the level of debt, last year capped the funding at 775 students a year.
-NZPA
-NZ Herald Thursday 13th May 2004.
Aviation students are beinh sold "hollow promises", many racking up tens of thousands of dollars in student loans without ever find jobs as pilots, aviation operators say.
Helicopter students in particular had some of the biggest individual student loans - one Southland pilot owed $170,000 - but few operators were willing to take them on because of their lack of experience.
Malborough Aero Club chief flying instructor Kevin Wilkey said many students walked away from flight schools with the minimum number of hours needed for their licence without realising the difficulties of entering the industry.
"It's a great tragedy. These people are being sold hollow promises because some of them will never, ever get flying jobs." Mr Wilkey said.
His concerns were echoed by Motueka pilot Dick Deaker, co-oweer of Action Helicopters, who said he turned away young pilots every week because they lacked experience.
"Some of them owe thousands of dollars but we can't take them on because they have no experience and our insurance won't cover them."
"Many of them say they had no idea there would be no jobs going when they did their training." Mr Deaker said.
Pilots had offered to work for them for 12 months without pay, simply for the experience and to get more flying time in their logbooks.
Newly qualified helicopter pilot Jason Wright owes the Government more than $170,000 but after scoring himself a job as a instructor, sees himself as better off than most of his classmates.
While he paid an extra $85,000 to qualify as an instructor, most of his classmates got their commercial's pilots licence and went out looking for work, only to find they were not wanted.
"They were going straight out with their commercial licence looking for work and found their heads were below water." Mr Wright said.
The Government, concerned about the level of debt, last year capped the funding at 775 students a year.
-NZPA
-NZ Herald Thursday 13th May 2004.
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Could it in fact be, that the current NZ minister of finance, and the associate minister of education, have both put their daughters through CPL/IR's in recent years?
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Ahh!! Typical. Sums it up. Why was I so silly to even ask?? Don't you just love politicians.
What's the use of having power if you don't abuse it.
Nuf said. Thanks.
What's the use of having power if you don't abuse it.
Nuf said. Thanks.
Last edited by doubleu-anker; 13th May 2004 at 12:30.
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The question has to be, for people with student loans, how do you get out of paying it back. Someone must have a cleaver little way to get out of it. I believe a few years back if you were out of the country for a certain amount of time(5 years i think) then they would just forget about it, but have since changed that. How can someone justify taking a 170000 dollar loan for a chopper licence. It will take them the rest of there life to pay back on the average chopper pilots wage.
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I was under the impression that you need to earn roughly 3 times the amount of your student loan to pay it off just in taxes and repayments.
Also the other week it went through the 7 Billion dollar mark. Bloody amazing for a country with 4 million people.
Years ago they had a chance to sort it out and perhaps even scrap the system, but now with 7 Bill in loans oweing its never going to happen.
splat
Also the other week it went through the 7 Billion dollar mark. Bloody amazing for a country with 4 million people.
Years ago they had a chance to sort it out and perhaps even scrap the system, but now with 7 Bill in loans oweing its never going to happen.
splat
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I had heard that numbers had been limited, to what point im not sure but i think its in the thousands.
The recent exploits of that clown saudi wannabe has really shown what sort or retards the loan system CAN create. At the end of the day if these people really want to get into flying (god knows why) they would do what many of us have done and saved up their cash and paid for it themselves.
The recent exploits of that clown saudi wannabe has really shown what sort or retards the loan system CAN create. At the end of the day if these people really want to get into flying (god knows why) they would do what many of us have done and saved up their cash and paid for it themselves.
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Aviation – a total cap of 775.25 EFTS units (rather than learner places which include part-time and full-time) nationally.
Where EFTS = Equivelent Full Time Students?
View the section here.
Where EFTS = Equivelent Full Time Students?
View the section here.
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student debt
With a loan of the size many pilot students seem to get for themselves with the system it is impossible to pay them back during a persons normal working life. I have friends with loans and they just see repayments as an extra tax on their earnings rather than actually paying the loan back in full. I believe standard repayments are 10% of income above a certain wage level (around $15k from memory)? Student loans can be treated in this way as they are not a debt in the normal way such as a personal loan.
As a side note does anyone know the interest rate on them now?
As a side note does anyone know the interest rate on them now?
