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Student Loan Scheme Act 2011

Repayment obligations of borrowers - New Zealand-based non-resident borrowers and borrowers with New Zealand-based and overseas-based repayment obligations

116: Overseas-based borrowers who derive salary or wages from New Zealand

You could also call this:

“Overseas borrowers with NZ jobs must repay loans like people living in NZ”

If you live overseas but earn a salary or wages from New Zealand, the rules that apply to people living in New Zealand also apply to you when it comes to repaying your student loan. This means that your employer in New Zealand will deduct loan repayments from your pay, just like they would if you were living in New Zealand. This rule applies even if other parts of the law say something different about overseas borrowers.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180262.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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115A: Reassessment of borrower's overseas-based repayment obligations in year of return to New Zealand, or

"Checking your student loan payments when you move back to New Zealand"

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117: Overseas-based borrower's standard and Commissioner deductions satisfy overseas-based repayment obligation, or

"Old rules for overseas borrowers paying back student loans no longer apply"

Part 2 Repayment obligations of borrowers
New Zealand-based non-resident borrowers and borrowers with New Zealand-based and overseas-based repayment obligations

116Overseas-based borrowers who derive salary or wages from New Zealand

  1. Subpart 1 applies to an overseas-based borrower who derives salary or wages from New Zealand as if the borrower were New Zealand-based.

  2. Subsection (1) applies despite anything to the contrary in this Act.