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Student Loan Scheme Act 2011

Interest, relief, penalties and offences, rights of objection, and rights to challenge - Borrower's right to object to loan manager about details of loan advances

167: Borrowers may object to details of loan advances

You could also call this:

“You can tell the loan manager if you think your student loan details are wrong”

You can object if you think the details of a loan advance given to you are wrong. This applies to the information you receive about your student loan as described in section 18.

To object, you need to believe there’s a good reason the details are incorrect. You can’t just object for no reason.

If you want to object, you must do several things:

  1. Explain why you think it’s wrong.
  2. Tell the loan manager in writing. You can find out how to do this in section 212.
  3. Include a copy of the information you received about your loan.
  4. Send your objection before the date mentioned in the information you received. This date is part of what section 18(2)(e) talks about.

The loan manager might give you more time to object if needed.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180355.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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Part 4 Interest, relief, penalties and offences, rights of objection, and rights to challenge
Borrower's right to object to loan manager about details of loan advances

167Borrowers may object to details of loan advances

  1. A borrower may object to the details of a loan advance made or charged to the borrower set out in a notification given to the borrower in accordance with section 18.

  2. However, a borrower may object only if the borrower reasonably believes that those details are incorrect.

  3. An objection under subsection (1) must—

  4. state the reasons for the objection; and
    1. be made by notifying the loan manager in writing (see section 212); and
      1. include a copy of the notification given to the borrower; and
        1. be received by the loan manager on or before the date stated in the notification in accordance with section 18(2)(e).

          1. However, the loan manager may extend the time allowed under subsection (3)(d).

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