Student Loan Repayments are Due

March 16, 2015 New Zealand Taxation

Student loan borrowers living overseas have weeks to make one of their two bi-annual payments.

Late last week the Inland Revenue Department issued a statement reminding overseas-based student loan borrowers that their bi-annual payment obligations are due at the end of the months.
In the statement the IRD noted that with the recent changes to the legislation regarding repayment thresholds it is now very important for borrowers to know the amount that they are required to pay each year.

It was also noted that if the payment requirements could be undue burden, the IRD is willing to arrange for special payment plans, and, in addition, offers several fee-free payment options through cooperating remittance firms.

It is estimated that there are approximately 720 000 borrowers, and 15 percent of them are currently based overseas.

Photo By: Summer Skyes 11