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Student Loan Scheme Act 2011

Repayment obligations of borrowers - New Zealand-based borrowers' repayment obligations for salary or wages - Unused repayment threshold may be allocated to secondary employment earnings

42: Application for unused repayment threshold to be allocated to secondary employment earnings

You could also call this:

“Asking to use leftover repayment limit for your second job's earnings”

If you’re a New Zealand-based borrower with student loans, you can ask to use your unused repayment threshold for your secondary job earnings. This applies if you have more than one job and haven’t used up all your repayment threshold in a pay period.

To do this, you need to tell the Commissioner about it. You should let them know how much you expect to earn and any other information they ask for. The Commissioner will decide how you should tell them this information.

This rule is for people who have extra room in their repayment threshold and want to use it for the money they earn from their other jobs. It helps you manage your student loan repayments across all your jobs.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2652601.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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41: Definitions relating to repayment thresholds, or

"Words that explain when you need to start paying back your student loan"

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43: Determining estimated salary or wages, or

"How to guess your income for three months"

Part 2 Repayment obligations of borrowers
New Zealand-based borrowers' repayment obligations for salary or wages: Unused repayment threshold may be allocated to secondary employment earnings

42Application for unused repayment threshold to be allocated to secondary employment earnings

  1. Subsection (2) applies to a New Zealand-based borrower who, for a quarter,—

  2. has 1 or more sources of secondary employment earnings; and
    1. has an unused repayment threshold for a pay period that is greater than zero.

        1. The borrower may apply to the Commissioner for the borrower's unused repayment threshold for a pay period to be allocated to the borrower's secondary employment earnings.

        2. The borrower must apply by notifying the Commissioner, in a manner acceptable to the Commissioner, of—

        3. the borrower's estimated salary or wages; and
          1. any other information requested by the Commissioner.

            Notes
            • Section 42(1)(b): amended (with effect on 1 April 2012), on , by section 16 of the Student Loan Scheme Amendment Act 2012 (2012 No 32).
            • Section 42(1)(c): repealed (with effect on 1 April 2012), on , by section 16 of the Student Loan Scheme Amendment Act 2012 (2012 No 32).