Recent figures released by the government reveal that student debt in New
Zealand has now reached $9 billion and is expected to increase to $14
billion by 2020. Average loan amounts are steadily increasing every
year with an average repayment time of 9.5 years.
After ten years of the student loan system in New Zealand the effects of
debt are proving to extend beyond the mere pressure of meeting repayments.
A governmental inquiry conducted in 2002 showed that a number of other
financially-related life choices were also being determined as a result of
sudden debt:
- marriage and childbirth choices
- home ownership options
- decisions to establish businesses
- health insurance
- retirement saving
- fees charged by graduate professionals
At Fidelity Life we believe in the power of forward planning to create
alternatives to debt for funding life's important opportunities. A
financial plan specifically-designed to fund your child's or
grandchild's education opportunities can help you:
- identify an appropriate investment into which to save or invest
- protect these funds so a change in circumstances does not affect
savings
- ensure that debt is not the only option for your child or grandchild
Fidelity Life's Just for Kids Plan has been created as a straightforward,
affordable solution to providing an education fund. Regular saving
from as little as $20 per month will ensure that funds are there when
they're needed. In addition to Fidelity Life's competitive rates of
return on a range of investment portfolios, Just for Kids provides the
benefits of Fidelity Life's minimum rate of return and loyalty bonus from
year 6 onwards.
If you would like more information on Fidelity Life's Just for Kids
Plan and you do not currently have an adviser, please complete our 'find
an adviser' form.
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