Hon Peter Dunne
Minister of Revenue
Associate Minister of Health

Monday, 23 February Media Release

Dunne: Charities join list for interest-free student loans

Revenue Minister Peter Dunne today announced four more charitable organisations whose volunteers may qualify for to have their student loans interest-free while serving overseas.

From 1 April this year, Australian Volunteers International, Pioneers (New Zealand), Presbyterian Church of Aotearoa New Zealand and Students Partnership Worldwide (Australia) will join a list 54 other approved charities.

Borrowers working overseas for charitable organisations on the list must apply to Inland Revenue to determine if they qualify for an interest write-off on their student loan. Interest-free loans are usually available only to borrowers who have been present in New Zealand for six months.

However, an exemption from the New Zealand-based requirement may be made for borrowers working in aid activities for free or a token payment for charities named on the list.

“The provision recognises the special circumstances of borrowers who work for charitable organisations whose contribution is not based on profit or remuneration.” Mr Dunne said.

The charities named were approved today by Order in Council, which also recognised a name-change for Campus Crusade for Christ New Zealand, now known as Tandem Ministries.

ENDS

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