New figures show that tertiary enrolments have dropped while those studying are experiencing increasing amount of debt, The Dominion Post reports.
Figures released by Statistics NZ showed that there were 416,415 enrolments for tertiary education in 2013, a number which was down 3,462 compared to 2012.
The number of those that took out a student loan for their study also dropped from 200,895 to 191,958 over the same time period. However, the average amount borrowed rose from $7,940 to $8,440.
Statistics NZ also said that the average sum borrowed by students also increased with those who finished studying in 2012 holding an average of $16,900 in student loan debt. Students leaving with a bachelor’s degree had an average of $23,700 in debt.
Green Party tertiary education spokesman Gareth Hughes told The Dominion Post that there was a 22.5 per cent rise in the average amount borrowed by students over the past six years.
"Students are borrowing more to pay for increased living costs and increased fees. They are starting their lives deeper in debt than ever before," he said
Tertiary Education Minister Steven Joyce said that taxpayer support had increased by roughly the same amount as the annual 4 per cent rise for tertiary fees.