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Student Loan Scheme Act 2011

Interest, relief, penalties and offences, rights of objection, and rights to challenge - Dispute procedures and rights to challenge - Rights to challenge and challenge procedures

183: Challenge to interest charged

You could also call this:

"You can question the interest on your student loan in certain cases"

Illustration for Student Loan Scheme Act 2011

You can challenge the interest charged on your student loan in two situations. First, if you think you shouldn't have been charged the amount of loan interest you were charged, you can challenge it. Second, if you think you shouldn't have been charged the amount of late payment interest you were charged, you can also challenge that.

Apart from these two situations, you can't challenge the interest charged on your student loan. This rule applies no matter what is written in this Act, in Parts 4A and 8A of the Tax Administration Act 1994, or in your loan contract.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180373.

Topics:
Education and learning > Higher educationMoney and consumer rights > Banking and loans
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182A: Challenge to decision concerning temporary repayment suspension, or

"You can question a decision about pausing your student loan payments"

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184: Challenge to decision concerning relief, or

"You can disagree if you think a decision about helping you with your student loan is unfair"

Part 4Interest, relief, penalties and offences, rights of objection, and rights to challenge
Dispute procedures and rights to challenge: Rights to challenge and challenge procedures

183Challenge to interest charged

  1. A borrower who is charged with loan interest may, on the ground that he or she should not have been charged with the amount of interest charged, challenge that interest.

  2. A borrower who is charged with late payment interest may, on the ground that he or she should not have been charged with the amount of interest charged, challenge that interest.

  3. Except as set out in subsections (1) and (2), a right to challenge interest charged under this Act is not conferred by anything in—

  4. this Act; or
    1. Parts 4A and 8A of the Tax Administration Act 1994; or
      1. a loan contract.

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