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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

43: Determining estimated salary or wages

You could also call this:

"How to guess your income for three months"

You need to estimate how much money you will earn in a three-month period. This includes money from your main job and any other jobs you have. When you make this estimate, you should try to be as accurate as possible.

You need to be careful when you make your estimate. If you realise during the three months that your estimate is not correct anymore, you should change it to be more accurate.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180121.

Topics:
Money and consumer rights > Banking and loansEducation and learning > Higher education
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44: Calculating borrower's unused repayment threshold for pay period, or

"How to work out the leftover money you can earn before paying back your student loan"

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

43Determining estimated salary or wages

  1. A borrower must determine his or her estimated salary or wages by making a fair and reasonable estimate of the total income the borrower will derive for the relevant quarter from each of the following:

  2. the borrower's primary employment earnings:
    1. the borrower's secondary employment earnings.

      1. The borrower must—

      2. take reasonable care in making the estimate; and
        1. revise the estimate if, at some time in the quarter, the amount estimated is no longer fair and reasonable.

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