Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Students helped with debt repayments

Students helped with debt repayments

New Zealand students now living in Australia are being reminded not to ignore their student loan debt as Inland Revenue expands its latest tool to help with repayments.

PayWay, a secure, internet-based service, helps students pay back their loans online, and from this week over the phone.

Paula Knaap, Collections Manager at Inland Revenue said $2.9 billion is owed by New Zealand student loan borrowers who now live overseas and all of them have a duty to repay their loan.

“Our main message for borrowers who owe money remains the same; you need to understand it is your responsibility to repay your loan even if you no longer live in New Zealand. You may have left the country, but your loan hasn’t.

“We want to help stop student loan borrowers getting more into debt. If you don’t keep up your repayment obligations, you will be charged with penalties.

“Using PayWay means New Zealand borrowers who now live in Australia can easily pay back their loans in Australian dollars, from an Australian bank account and Inland Revenue bears the cost of the currency conversion,” said Ms Knaap.

There are more than 720,000 student loan borrowers, 15 percent of which live overseas.

“With the recent changes to the repayment threshold for overseas-based borrowers, its essential students know how much they owe and what repayments they need to make.
“I cannot express enough that it is never too late for any student loan borrower to contact us so we can work with you on a repayment plan to suit your needs, or see how the new legislation may affect you. I encourage everyone to do this.

“Paying back debt on top of existing debt can be avoided. You should start repaying your student loan once you receive an overseas based assessment or earn over the New Zealand wage threshold,” said Ms Knaap.

New Zealand student loan borrowers who are living in Australia with an Australian bank account can set up a PayWay direct debit arrangement by calling Inland Revenue’s Australian toll-free number on 1800 559 653.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Budget

It may seem like Oliver to be so bold as to ask the Finance Minister for more gruel – but what the Dickens, Steven Joyce… is this Budget really as good as it gets?

Supposedly, the public was going to receive significant rewards – an election year lolly scramble no less – for the eight years of belt tightening that they’ve endured, and for the rundown of essential public services.

Well, what Budget 2017 delivered instead in Education and in Health were allocations barely sufficient to maintain the current levels of service delivery More>>

Scoop Full Coverage: of Budget Announcements & Reaction
Latest: Scoop Search

 
 

PM's Press Conference: Two More Troops?

Prime Minister Bill English gave a summary his highlights of last week’s budget announcement... The Prime minister was asked about NATO’s request for New Zealand to send two more personnel to Afghanistan and whether or not we will send them. More>>

ALSO:

Carer Settlement: Threat Of Staff Exodus In Mental Health

As a result of the recent pay rise awarded to their aged care and disability sector colleagues, many staff in non-government mental health and addiction organisations are considering leaving to join these workforces. More>>

ALSO:

Climate Policy: New Zealand Set To Blow Its Carbon Budget By 27%

The Government’s Greenhouse Gas Inventory shows New Zealand is set to release 647.5 million tonnes of carbon emissions between 2013 and 2020 – 137 million tonnes more than we are allowed under the Kyoto Protocol. More>>

ALSO:

Earlier:

Christchurch Considers Cathedral, Stadium: Cathedral Working Group Report Released

“About half of Christchurch wants to see the cathedral reinstated, the other half wants something new and more modern, but really, everyone just needs a decision." More>>

ALSO:

Auditor-General Stands Down For Investigation: Gordon Campbell On (Not) Taking Responsibility

So Martin Matthews, our current Auditor-General wishes he could have detected “earlier” the fraud that occurred on his watch at the Ministry of Transport. Hmmm. But he could have detected it earlier, surely? That’s the point. More>>

ALSO:

 
 
 
 

Opening The Election Supporters

 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election