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Student loan scheme `a success'.
(From The Dominion Post)
Byline: ANDREW Kelly
THE student loan scheme, which notched up a record $7 billion in debt this week, has been a "tremendous success", according to its architect Lockwood Smith.
Dr Smith designed and introduced the controversial system in 1991 when he was National's education minister. He said then that the "financing facility" would let students complete their studies without financial barriers.
Students demonstrated their opposition to the loan scheme by pelting Dr Smith with eggs at Auckland Technical Institute in October 1991.
In the scheme's first 18 months, about 43,000 students borrowed nearly …
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