With January 2011 almost coming to an end and February 2011 making its way, I would like to talk about student loan. A student loan is a governmental financial aid designed to help students to pay for their tuition fees, book and other tertiary-related expenses during their time at university or polytechnic. However, a student loan needs to repaid back when they have graduated and found a job. There are some honest individuals who do repay the loans but I want to take the opportunity to talk about those who abuse the student loan system.When you have a few of those bad apples abusing it every year (and yes, it is getting worse time to time), student loan debts can be very hefty on a country and its hardworking, tax-paying citizens.

1.) The student loan evaders

“I won’t pay, I won’t pay, no way!” is a common motto for student loan evaders who think that once they are done with tertiary education and make the plan to live abroad for eternity without paying back the loan, they are doing a disservice to their fellow countrymen (and ladies) who paid part of their blood, sweat and tears as taxes. It is not just local tertiary students in their own home countries, this also applies to international students with permanent residency status who are ripping their new countries’ student loan policy.

Hello, you student loan evaders signed an agreement that once you get a student loan, you have to pay it all back when you have an income and a job to go. If you think that student loan debt will go away, you are wrong to think that way because your evading antics is like a growing wound to a country’s economy every year. You are also hurting  those hardworking taxpayers who contributed a bit to the student loan coffers every year. To student loan evaders out there, you know who you are, and you are no better than a bunch of petty thieves.

2.) The cheating well-off lot

I have come across a few former university students who actually come from well-off families yet they have the cheek to rip the student loan system. What is worse to know is that some of the parents teach them that is better to abuse the student loan system than to part with a few thousand dollars from their bank accounts for the tertiary fees. The worst part of all: majority (almost all) of the cheating well-off tertiary students also evade repaying the student loan debts too once they completed university or polytechnic. Pretty stupid if you ask me when they prefer to use their money to spend on designer goods and fancy cars which will not earn them good grades and qualifications with flying honours. You well-off lot have parents with a $90,000 to $120,000 per annum wages who could been honest enough to leave the student loan system alone. When those well-off lot choose to rip off every shred of decency they have in them, they are doing injustice to student loan system which is created to help out those who truly cannot afford to pay their way into tertiary. Last but not least, those cheating well-off lot are in the same boat with those student loan evaders I mentioned in 1.) earlier.

3.) The ‘users’

There are some ‘users’ who take advantage of the student loan system by using the money not for paying their tuition fees. It would shock any reader to know that the ‘users’ misuse the student loan money to buy clothes, shoes, and other unnecessary stuff which would tickle a person’s fancy a little while and then wanes away the next like this fellow who took out a NZ$7,000 student loan for a stereo mentioned in this New Zealand Herald article which actually comes with dire consequences he is now living with. Some ‘users’ dare to abuse the student loan to splurge on designer goods or use the money to pay off a few non-tertiary related debts like gambling for example.

‘Users’ out there, have you ever read the fine print that you ONLY use the student loan to pay your tuition fees, books and other tertiary-education related expenses? If you think that you can use the student loan for buying things you should not be spending on, you are only doing a disservice to the taxpayers.

4.) The benefit thieves

Here are the classic society system abusers: the benefit thieves. Yes, every now and then there are those benefit thieves who lie their way to get their grubby hands on student loans, which should not have gone to them in the first place, and later on getting away with their lies while maintaining their secret lives as employed individuals of society or as useless people stealing who only care about getting the money to spend on non-study related items such as drugs, booze and even luxurious items. To benefit thieves out there, your greed and dishonesty are not worth it because you are digging a deeper hole for your countries’ economy to sink into. That is not all, you are also causing heartache to all honest taxpayers. You are also no better than 1.) , 2.) and 3.) mentioned above.

With growing incidences of those people ripping the student loan system off, I believe local tax departments should track down those student loan system abusers overseas even if it would it mean going to the ends of the earth ala Catch Me If You Can and going cyber on the internet, Facebook or Twitter to find them. The classic method of people snitching in their friends, employees, neighbours or relatives, who are either of those four kinds of people I described earlier, is highly encouraged to show that we do not tolerate people who abuse the student loan system.

Anyway, what says you about this issue? Do you happen to know or knew someone who could be one of those four people I wrote earlier? What do you think should be done to tackle this problem? Have your say and all opinions are welcomed (if you are talking about someone who fits one of the four people, use pseudonyms please!). Last but not least, hate me all you like but all I can say is abusing the student loan system is never ever OKAY.