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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

47: Ongoing obligations of borrower to review and notify

You could also call this:

“Keep checking and telling the government about changes to your loan and work”

You need to check the estimate you made under section 43 before each quarter ends. You can change this estimate whenever you want.

You must tell the Commissioner if you change your estimate from section 43. You also need to let the Commissioner know if anything changes that you told them about in section 42(1). This includes if you stop working at a job or start a new job.

When you tell the Commissioner about these changes, you need to do it in a way they accept and give them all the details.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180128.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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46: Issue and application of special deduction rate certificate, or

"The government can give you a special paper that changes how much money is taken from your pay"

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48: Time when special deduction rate ceases to apply, or

"When your special student loan repayment rate ends"

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

47Ongoing obligations of borrower to review and notify

  1. The borrower—

  2. must review an estimate he or she made under section 43 before the end of each quarter; and
    1. may revise an estimate he or she made under section 43 at any time.

      1. The borrower must notify the Commissioner in a manner acceptable to the Commissioner, and provide details, if—

      2. the borrower revises an estimate he or she made under section 43; or
        1. any of the circumstances set out in section 42(1) change; or
          1. the borrower ends any employment or starts any new employment.

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