Most overseas resident New Zealand student loan borrowers need to make a payment to the IRD by 30 September. Compulsory payments can be up to $5,000 each year and are due unless you are on a repayment holiday, your debt is under an arrangement, the debt is part of a bankruptcy under New Zealand law, or you have been granted hardship. The payment amounts are not related to your income.
If you have overdue arrears your payment obligation will be greater.
If your student loan debt is large, it may keep on increasing even though you keep up with your compulsory payments.
Please contact us if you would like advice on your options.
If you have overdue arrears your payment obligation will be greater.
If your student loan debt is large, it may keep on increasing even though you keep up with your compulsory payments.
Please contact us if you would like advice on your options.