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Student Loan Scheme Act 2011

Repayment obligations of borrowers - Overseas-based borrowers' repayment obligations - Calculation and payment of overseas-based repayment obligation

113: Consequence of failure to meet repayment obligations

You could also call this:

“What happens if you don't pay back your student loan on time”

If you don’t pay back your student loan when you’re supposed to, you might have to pay extra money. This extra money is called late payment interest. You have to pay your loan back in the way the rules say. If you don’t do this, you might have to pay more.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180258.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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112: Repayment to be made by instalments, or

"You pay back your overseas student loan in two parts during the year"

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114: Notification of Schedule 3 adjustments by New Zealand-based non-resident borrowers, or

"Kiwi borrowers living overseas must report special changes to their loan"

Part 2 Repayment obligations of borrowers
Overseas-based borrowers' repayment obligations: Calculation and payment of overseas-based repayment obligation

113Consequence of failure to meet repayment obligations

  1. A borrower may be liable to pay late payment interest if the borrower does not meet his or her repayment obligations under this subpart (see section 139(1)).