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Student Loan Scheme Act 2011

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

151: Effect of Commissioner's decision under section 147

You could also call this:

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

If the Commissioner decides to give you hardship relief under section 147, there are some important things you need to know about the money involved:

The amount that the Commissioner gives back to you or doesn’t collect from you is still part of your student loan. It’s not taken off your loan balance. This means you still owe this money.

Even though the Commissioner isn’t asking for this money right now, it’s not considered an unpaid amount. This is because the Commissioner has decided not to collect it for now due to your hardship situation.

Remember, this decision doesn’t mean the money is gone forever. It’s just that you don’t have to pay it right now because of your current circumstances.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180323.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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150: Time when special deduction rate ceases to apply, or

"When your special student loan pay deduction stops"

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152: Borrowers must notify Commissioner of change of circumstances, or

"Tell the Commissioner if your situation changes after asking for help with your student loan"

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

151Effect of Commissioner's decision under section 147

  1. An amount that, as a result of a decision under section 147, the Commissioner refunds to, or does not collect from, a borrower—

  2. is not written off; and
    1. remains part of the borrower's loan balance; and
      1. is not an unpaid amount.

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