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Student Loan Scheme Act 2011

Repayment obligations of borrowers - New Zealand-based borrowers' repayment obligations for salary or wages - Standard deductions resulting in significant under-deductions or over-deductions

68: Applicable procedures if significant under-deduction

You could also call this:

“What happens if not enough money is taken from your pay for your student loan”

If you borrow money for your studies, and not enough money is taken out of your pay to repay your loan, this is called an under-deduction. If the under-deduction is big, or as the law calls it, ‘significant’, there are special steps that can be taken. These steps are explained in other parts of the law, called section 49 and section 51. These steps might be used to help fix the problem and make sure you’re paying back the right amount on your student loan.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180156.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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67: Procedure if significant over-deduction made, or

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Part 2 Repayment obligations of borrowers
New Zealand-based borrowers' repayment obligations for salary or wages: Standard deductions resulting in significant under-deductions or over-deductions

68Applicable procedures if significant under-deduction

  1. The procedures in section 49 or 51 may be applied to a borrower if there is a significant under-deduction in relation to him or her.