The NZ Independent Coalition will implement a zero-fees model at the Bay of Plenty Polytechnic and Waiariki Institute of Technology if elected in the upcoming election.

The pledge was made by leader Brendan Horan while speaking at a student forum held at the BOP Polytechnic's Windermere Campus today.

NZIC leader Brendan Horan announces the pledge at the BOP Polytechnic.

Students were told the NZ Independent Coalition is committed to moving towards a zero-fees model for all tertiary education providers throughout New Zealand.

For the Bay of Plenty, Brendan said the successful Southland zero-fees model could be replicated in the region.

As an example he pointed out that students working towards a Bachelor of Commerce through the Southland Institute of Technology, which implement the zero-fees model, will pay $1680 over three years – saving them nearly $15,000.

'It is wrong that students are loaded with a mortgage-size debt,” Brendan told students.

'That is why New Zealand's newest political entity will also restore a universal student allowance by abolishing the parental income test and restore postgraduate student allowances.”

The zero-fee model applies to the basic tuition cost for each programme while students pay direct material costs.

Southland Institute of Technology implemented zero-fees over 10 years ago with seed funding from two local trusts and the councils, and rapidly became self-sustaining.

Student numbers also rose by over 46 per cent, which attracted sufficient per-capita Government funding to meet costs.

By 2010, the economic impact of zero-fees was over $210 million and contributed over 730 full time equivalent jobs.

Brendan says the NZIC also plans to overhaul Studylink by abolishing 'frustrating bureaucracy” in order to deliver quality frontline services.

Students over 55 years will also be able to access student loans for living costs and course-related costs.

Revenue for tertiary education changes can be found in a currently untaxed area of the New Zealand economy – financial transactions.

Following the example of 11 European Union nations Brendan says NZIC would look to implement a 0.1 per cent Financial Transaction Tax.

'An FTT at the modest rate of 0.1per cent will result in revenue of around $9.5 billion for the people of New Zealand every year.

'After all, if the financial institutions make their money by clipping the ticket on every transaction, then so too should the Government,” says Brendan.