If you accidentally pay more than you need to on your student loan, and the extra amount is $5 or less, the Commissioner (the person in charge) can choose not to give you that money back. They can also choose not to use that small extra amount to pay off your future loan payments.
This rule is more important than what it says in section 132 of the law. That means if section 132 says something different, this rule still applies.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180287.
130: Commissioner must advise borrowers to seek financial advice, or
"The government no longer tells borrowers to get money help"
132: Borrower may receive refund or apply excess repayment to future repayment obligations, or
"You can choose to get money back or pay ahead if you've overpaid your student loan"
If an excess repayment is $5 or less, the Commissioner may refrain from—
This section overrides section 132.
