National is expecting young New Zealanders to celebrate the reversal of a student loan repayment increase it introduced itself.

“National increased the student loan repayment rate from 10 to 12 percent in 2012. Now, more than a decade later, its big election-year announcement is to reverse that decision,” Labour tertiary education spokesperson Shanan Halbert said.

“Any relief for graduates will be welcome. But young people will judge National on its whole record.

"National has allowed back-to-back fee hikes of up to 6 percent and is proposing another next year. That would allow fees to rise by up to 19 percent over three years. They've also frozen the student loan repayment threshold so around 370,000 borrowers have to repay their loans faster.  

“Under this Government, students are facing higher living costs, and those finishing their studies are entering the toughest job market in more than a decade.

“Of course people should repay what they owe. But the bigger question is why so many young New Zealanders are struggling to get ahead and choosing to build their futures overseas.

“Young New Zealanders need good jobs, affordable education and a reason to see their future here at home. They can’t afford another three years of National,” Shanan Halbert said.