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Student Loan Scheme Act 2011

Repayment obligations of borrowers - Overseas-based borrowers' repayment obligations - Temporary repayment suspension of overseas-based repayment obligations

107: Borrowers who intend to be overseas-based may apply for temporary repayment suspensions

You could also call this:

“You can pause your student loan payments if you're planning to go overseas”

You can ask for a temporary repayment suspension if you plan to go overseas. This means you might not have to make loan payments for a while. To do this, you need to tell the Commissioner. You can ask for this before you leave New Zealand or after you’ve gone overseas. But if you’re already living overseas, you can’t ask for it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180245.

Topics:
Money and consumer rights > Banking and loans Education and learning > Higher education
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106: Meaning of temporary repayment suspension, or

"What it means when you can pause your student loan payments while living overseas"

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107A: Contact person to be nominated, or

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Part 2 Repayment obligations of borrowers
Overseas-based borrowers' repayment obligations: Temporary repayment suspension of overseas-based repayment obligations

107Borrowers who intend to be overseas-based may apply for temporary repayment suspensions

  1. A borrower may, by notifying the Commissioner, apply to the Commissioner for a temporary repayment suspension if he or she intends to be overseas-based.

  2. The application may be made from New Zealand or from overseas, but no application may be made by an overseas-based borrower.

Notes
  • Section 107: replaced (with effect on 1 April 2012), on , by section 30 of the Student Loan Scheme Amendment Act 2012 (2012 No 32).
  • Section 107 heading: amended, on , by section 61(2) of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).
  • Section 107(1): amended, on , by section 61(3) of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).