Labour will cut student debt by 10%, helping people pay their loans off sooner, and supporting Kiwis to build a future here in New Zealand.

“If you have a student loan and stay in New Zealand, under Labour you will owe less,” Labour Leader Chris Hipkins said.

“If you've finished your study, didn’t benefit from Fees Free and are still paying off your loan, you'll get the cut on 1 April 2027. Current and future students will get it after staying in New Zealand for three years once they finish their study. And if you owe $2,000 or less, we'll wipe it off completely.

“Student debt can follow people for years, making it harder to save for a home, start a family or simply get ahead.

“This policy means more money to save for a home, start a family, build a business or just have a bit more breathing space.

“New Zealand invests in education because we believe people’s talent and hard work should strengthen our country. We want to make it easier for our graduates – be it nurses and healthcare workers, electricians, or social workers - to stay and build a future in New Zealand.

“That’s the kind of country Labour wants to build, where hard work opens doors, young people can see a future for themselves, and people don’t have to leave New Zealand to get ahead,” Chris Hipkins said.

“Education should open doors, not leave people carrying debt for decades,” Labour tertiary spokesperson Shanan Halbert said.

“This policy means graduates can move forward sooner – with less debt, more of their income in their pocket and a better chance to build their lives here in New Zealand.

“People have done the hard work to get a qualification. They shouldn’t have to spend years watching their student loan barely move.

“Labour will cut that debt and give people a bit more freedom to get on with their lives,” Shanan Halbert said.