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


Government Committed To Interest-Free Student Loans

Hon Peter Dunne
Minister of Revenue

Thursday, 29 March 2012 Media Statement

Government Committed To Interest-Free Student Loans

Revenue Minister Peter Dunne has countered concerns that a change proposed in a student loans bill before Parliament may result in some borrowers losing their interest-free status when the loan is transferred from StudyLink to Inland Revenue on 1 April 2012.

“This interpretation of what is in the bill is mischievous and, quite simply, wrong,” Mr Dunne said. “I want to re-assure borrowers that the Government is committed to interest-free loans for borrowers who stay here.”

“The change in question is purely for loan-handling efficiencies between StudyLink and Inland Revenue, the agencies responsible for administering the student loan scheme.

“Student loans are currently administered by charging interest on all loans and then writing that interest off for New Zealand-based borrowers.

“StudyLink charges the interest until the loan is transferred to Inland Revenue, and Inland Revenue then writes off the interest for New Zealand-based borrowers.

“To simplify the system, this process will change from 1 April 2012 (previously 1 January 2012), when responsibility for charging interest will be transferred to Inland Revenue.

“The amendment in the bill simply gives retrospective effect to that administrative change of responsibility for the charging and writing off of interest on student loans.

“The change is purely an administrative one between the two agencies and will have absolutely no visible impact on borrowers or their loan balances,” Mr Dunne said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell : On Dealing With Impeccable, Impeachable Lies

By now, the end game the Republican Senate majority has in mind in their setting of the rules for the impeachment trial of Donald J. Trump is pretty clear to everyone: first deny the Democrats the ability to call witnesses and offer evidence, and then derisively dismiss the charges for lack of evidence. For his part, does former security adviser John Bolton really, really want to testify against his former boss? If there was any competing faction within the Republican Party, there might be some point for Bolton in doing so – but there isn’t. More>>

Published on Werewolf


WINZ Quarterly Report: More People Getting Into Work

The December quarter benefit numbers released today show the Government’s plan to get people off the benefit and into work is starting to pay off,” Social Development Minister Carmel Sepuloni said. More>>


Changing lives: Boost In Whānau Ora Funding

Whānau throughout New Zealand are set to benefit from an extra three million dollars that will go directly to Whānau Ora Commissioning Agencies, the Minister for Whānau Ora Peeni Henare announced today. More>>


PGF Kaikōura $10.88M: Boost In Tourism & Business

The Provincial Growth Fund (PGF) is investing $10.88 million to boost business and tourism opportunities in Kaikōura, Parliamentary Undersecretary for Regional Economic Development, Fletcher Tabuteau announced today. More>>


Whitebaiting: Govt Plans To Protect Announced

With several native whitebait species in decline the Minister of Conservation Eugenie Sage has today released proposals to standardise and improve management of whitebait across New Zealand. More>>


Education: Resource For Schools On Climate Change

New resource for schools to increase awareness and understanding of climate change... More>>


In Effect April: New Regulations For Local Medicinal Cannabis

Minister of Health Dr David Clark says new regulations will allow local cultivation and manufacture of medicinal cannabis products that will potentially help ease the pain of thousands of people. More>>


Gordon Campbell: On What An Inquiry Might Look Like

Presumably, if there is to be a ministerial inquiry (at the very least) into the Whakaari/White Island disaster, it will need to be a joint ministerial inquiry. That’s because the relevant areas of responsibility seem to be so deeply interwoven... More>>






InfoPages News Channels