Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Income threshold for student loan repayments

Income threshold for student loan repayments and interest write-offs to rise

Income thresholds for student loan repayments and interest write-offs will rise again from next April, Revenue Minister Michael Cullen and Associate Education (Tertiary Education) Minister Steve Maharey announced today.

The income level at which borrowers must begin to repay their loans will rise from $15,496 to $15,964. The income level under which part-time or part-year borrowers may have interest on their loans fully written off will rise from $25,378 to $25,909.

“The changes are in line with regular adjustments to the domestic purposes benefit,” the Ministers said. “The student loan repayment threshold is aligned with the domestic purposes benefit paid to people with two or more children. This is to encourage beneficiaries to take part in tertiary education, to improve their employment opportunities.”

“The interest write-off threshold sets the income level at which part-time or part-year borrowers cease to receive a full interest write-off on their student loans. It is aligned with the amount of other income beneficiaries may receive before the domestic purposes benefit is fully abated.”

“Full-time, full-year students will continue to receive a full interest write-off while they are studying, regardless of their income,” the Ministers said.

The changes were approved by Order in Council today.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Ardern Speech: Justice Summit Opens

If we want to talk about an effective justice system, we shouldn’t start with a discussion about prisons, but a discussion about New Zealand...

We believe in a ‘fair go’. We are fair minded and like to give people a chance. Ensuring everyone is treated fairly is part of the fabric of our culture.

And equally, we are defined by what we don’t believe ourselves to be – and we certainly don’t feel like the kind of place that would have one of the highest incarceration rates in the western world, and yet we do. More>>

 

Christchurch Quake: New Red Zone Payment For Uninsured

The Government will pay former residential red zone owners 100% of the 2007/08 rateable value for uninsured homes, Minister Megan Woods has announced today. More>>

ALSO:

Gordon Campbell: On MP Pay And The REAL P.C. Danger Zone

There has never been anything remotely credible about the way parliamentarians would paint themselves as the helpless victims of the Remuneration Authority when it came to their pay increases... More>>

ALSO:

Repatriation: Remains Of NZ Service People Return Home

Prime Minister Jacinda Ardern and Minister for Veterans Ron Mark say they were honoured to be with the families of service personnel as they welcomed their loved ones home. More>>

ALSO:

Cop Shop Top-Up: 1800 New Police Through NZ

Police Commissioner Mike Bush has today confirmed further details around the allocation of the 1800 additional officers, following a $298.8 million increase for Police in Budget 2018... “These 1800 officers, alongside 485 support staff, will really enhance our work to keep people safe, and ensure they feel safe,” says Mr Bush. More>>

ALSO:

Human Right Commissions: Concern On Aged Care And Consent

A new report published by the Human Rights Commission raises concerns about the legal and human rights safeguards for an estimated 5000 elderly New Zealanders in secure dementia units and psychogeriatric facilities. More>>

ALSO:

Greens AGM: Leadership Stands Firm On Waka Jumping Bill

The Green Party leadership have dug in their heels and will not be reversing any of the decisions they have made in government. Former MPs Jeanette Fitzsimons and Sue Bradford had hoped the caucus might be persuaded this weekend to pull its support from the waka jumping bill. More>>

ALSO:

TOP Still Going, Actually: New Leader For Opportunities Party

New leader Geoff Simmons' aim as the leader of TOP is to take the party into Parliament at the next election where it can advocate and implement progressive reform in areas including fair taxation, cannabis legalisation, affordable housing, and environmental protection. More>>

ALSO:

Gordon Campbell: On Another Reason To Loathe HR Departments (And On The Teachers Strike)

This morning’s news item about Police emergency call centre staff turning up for work while they’re sick – because they’re afraid their sick leave statistics will be used against them, and their jobs put in jeopardy – is not an isolated case... More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages