“No one should have to move overseas to build a future,” he told attendees at Labour’s official election campaign launch.
In the year to July 2026, the net migration loss of New Zealand citizens was 38,300, according to Stats NZ.
But would the policy be enough to make students stay?
Victoria University of Wellington students spoken to by the Herald on Monday said while the extra support is welcome, it doesn’t target what worries them most.
Law and Bachelor of Arts student Lexie Orange said any policy helping students is appreciated but it’s not enough to keep graduates here.
“It doesn’t really cover why Kiwis are leaving and going overseas, which is primarily the cost of living and lack of job opportunities.”
Bachelor of Arts student Hazel Montgomerie said it’s more of a “nice bonus” rather than something that would swing her vote.
Montgomerie said more graduate roles, in government and the broader workforce, and lowering the cost of living would keep Kiwis in the country longer.
Both students said they did not feel supported as students by the Government.
According to Ministry of Social Development data, the average student loan for a three-year degree ending in 2025 was $50,389.
That means Labour’s policy would save an average of $5038.90 per student.
For students in the class of 2027 and above, they will need to stay in the country three years after they’ve finished studying to receive the 10% discount.
In the time Blake Wells and Holly Beagle have been enrolled in university, policies have switched from first year fees-free to final year fees-free, before being removed entirely.
Wells, a Bachelor of Commerce student, said the new deduction offered by Labour would be enough to keep him in New Zealand until he paid it off.
“Ten per cent off a massive loan will definitely be quite big.”
However, Wells still planned to head off on an OE regardless of the new incentive. He would simply stay in New Zealand for a few years to save.
“Three years wouldn’t be that much of an issue.”
Fellow Bachelor of Commerce student Beagle was also hoping to move overseas eventually for life experience, not job security.
“I’d probably be more inclined to stay longer and like finish that off and then move.”
The students all favoured Labour’s policy over National’s loan payment extension policy.
“I would rather get it over and done with faster so then you have that money closer for your retirement and housing,” Beagle said.
Labour’s policy would cost $583.4 million over five years, with $439.5m spent to cut historical debts in the 2026/2027 year alone.