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 Govt’s Token Plans For Cyber-Security

Basically, the world is divided into two types of people: those who think the Panama Papers illustrate the bad shit that some people do, and those who think the Panama Papers illustrate what needs to be done to make sure no-one else discovers the shit – good or bad – that they’re doing. More>>

ALSO:

Gordon Campbell: On Pharmac’s Grudging Concession To Reality

Is this any way to run a health system… whereby terminally ill patients are forced into public demonstrations before the government (and its funding agency Pharmac) will grudgingly provide the money for life-saving treatments freely available and publically funded in Australia for the best part of a year? More>>

ALSO:

Labour: Healthy Homes Bill Passes First Reading

Some of New Zealand’s most vulnerable children and families are on their way towards safer living conditions with the passing of the first reading of the Healthy Homes Guarantee Bill in Parliament last night, Leader of the Opposition Andrew Little says. More>>

ALSO:

Werewolf Satire: Home, And A Way

The one thing even more popular than an Auckland house is offering advice on how to afford an Auckland house. So, on the grounds it can’t be worse than some of the stuff that’s out there, here’s my three cents* worth. [*Up 50% since 2013!] More>>

ALSO:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news