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Helping borrowers keep on top of their loans

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The proposals in this discussion document would assist more Student Loan borrowers in New Zealand to make smaller, more regular repayments during the year, and to reduce the need for a large repayment at the end of the year.  

If a payment was missed, the Government is proposing that Inland Revenue would intervene more quickly, and work with the borrower to help them catch up.  Inland Revenue wouldn’t charge late payment interest when the borrower was trying to pay.

If a borrower was not cooperating, Inland Revenue would charge late payment penalties as a last resort.

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