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Student Loan Scheme Act 2011

Interest, relief, penalties and offences, rights of objection, and rights to challenge - Relief - Hardship relief

150: Time when special deduction rate ceases to apply

You could also call this:

“When your special student loan pay deduction stops”

The special deduction rate is a special amount that can be taken from your pay for your student loan. This rate doesn’t last forever. It stops when one of these things happens first:

  1. The time period written on your special deduction rate certificate ends.
  2. The Commissioner tells your employer in writing that it should stop.
  3. You tell your employer that it should stop.

When any of these things happen, the special deduction rate is no longer used.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180322.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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149: Issue and application of special deduction rate certificate, or

"Getting a special document that changes how much money is taken from your pay for student loans"

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151: Effect of Commissioner's decision under section 147, or

"What happens when the Commissioner decides to give you hardship relief for your student loan"

Part 4 Interest, relief, penalties and offences, rights of objection, and rights to challenge
Relief: Hardship relief

150Time when special deduction rate ceases to apply

  1. The special deduction rate applies until the earlier of—

  2. the end of the period specified in the special deduction rate certificate; or
    1. the date on which the Commissioner notifies the employer in writing otherwise; or
      1. the date on which the borrower notifies the employer otherwise.

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