Education Policy | Post Primary | Preschool | Primary | Tertiary | Search

 


Overseas-Based Graduates: Student Loan Deadline Looms

MEDIA RELEASE

Calling Overseas-Based Graduates: Student Loan Deadline Looms

17 March 2014

Press Release: New Zealand Union of Students’ Associations

The New Zealand Union of Students’ Associations (NZUSA) is reminding overseas-based borrowers (OBBs) that they have just two weeks to make student loan payments. After that, they will become criminals and may lose their right to travel.

From April 1, Inland Revenue will be able to seek an arrest warrant for former students who are not meeting their obligations. The next payment date for OBBs is 31 March.

“Although it has been extremely difficult to make repayments in the past, and the transaction costs have been significant, there are now ways to make fee-free student loan repayments, direct to Inland Revenue, including through NZUSA’s partner NZForex (www.students.org.nz/nzforex)”, says NZUSA President Daniel Haines.

“NZForex is fee-free, there is no minimum repayment – encouraging regular payments aligned with pay-days, and they pay NZUSA a small commission helping to facilitate our work to make the system fairer for former graduates struggling with their debt burden”, says Haines.

“The 1 April changes are overly aggressive, and Treasury advice is that the changes will be an inhibitor for overseas New Zealanders returning home. Further, they will place a large demand on the resources of the New Zealand Police. To avoid these implications we are suggesting people become compliant and enter into negotiations with Inland Revenue if they face hardship doing so. There are companies who can help with this, such as Anderson Accountants contactable via www.studentloan.org.nz.

NZUSA continues to demand that overseas-based borrowers should pay based on their income, not be subject to extravagant and unfair charges and be charged no more than a reasonable interest rate. Until there is sensible policy in this area, graduates can still best avoid penalties by getting in touch with Inland Revenue.

“Calling all our graduates overseas: be proactive, save Police time, and your money”, concludes Haines.

ENDS

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Snell Sale Peters Out: Singlet Withdrawn From Sale

“We believe the item was offered for sale in good faith, but our inquiries have shown that the singlet is not the one worn by Peter Snell at the 1964 Tokyo Olympic Games.” More>>

ALSO:

Bodega: Venue Closing At The End Of The Year, After 25 Years Of Music

"It is with considerable sadness that, for reasons beyond our control, we regret to announce the closure of Bodega’s doors at the end of this year, after 25 years of faithful and committed service to live music in Wellington." More>>

Scoop Review Of Books: Women At The Centre

In the first chapter of her epic History of New Zealand Women, Barbara Brookes places a version of the Māori creation story alongside that of the Pākehā colonists, setting the scene for how each society saw women. The contrast is startling. More>>

In Auckland Art Gallery: A Tour Of Duty

I had already started my journey through the exhibited collections when an audio announcement about a guided tour to embark shortly from the foyer was made, I decided to join in. Why not? More>>

Art: ‘Holiday’ Wins IHC Art Awards

An intricate embroidered cushion by Wellington artist Jo-Anne Tapiki has won the 2016 IHC Art Awards and $5000. Jo-Anne started working from IHC’s Arts on High studio in Lower Hutt 18 months ago and this is the first time she has entered the competition. More>>

‘Quasi’: Christchurch Art Gallery Reveals Rooftop Sculpture

Christchurch-born and internationally renowned artist Ronnie van Hout has had a huge hand in Christchurch Art Gallery's latest outdoor installation. More>>

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Education
Search Scoop  
 
 
Powered by Vodafone
NZ independent news