Student Loan changes for 2013
08 May 2012
In 2011 the Government announced changes to the Student Loans Scheme that will be implemented for study starting on or after 1 January 2013. If you’re planning to study next year or in the future, you need to know about these changes.
The following changes were announced in Budget 2011 for Student Loan eligibility criteria and take effect in 2013:
- People aged 55 and over will only be eligible for the compulsory fees component of the Student Loan. Find out more
- For all Student Loan applications received on or after 7 February 2013, students who have $500 or more in default at the time of their application, and at least some portion of that amount has been overdue with Inland Revenue for a year or more, won’t be able to get a Student Loan. Find out more
- All students applying for a new Student Loan will be required to nominate a New Zealand based contact person as a condition of accessing the Student Loan Scheme. Find out more
Student Loan Scheme Act
Changes to the Student Loan Scheme Act, to make it easier for you to manage and repay your Student Loan were also announced in 2011.
The majority of these changes took effect this April, with additional changes being introduced in 2013. Find out more about these changes and how they could affect you at www.ird.govt.nz/studentloans/guide/changes/