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Student Loan Scheme Act 2011

Matters of general application and miscellaneous matters - Matters of general application

189: Annual administration fee

You could also call this:

“You might have to pay a yearly fee for having a student loan”

If you have a student loan balance of more than $20 at the end of March in any tax year, you will need to pay an annual fee. This fee is $40, but the government might change this amount in the future. The fee will be added to your loan balance on 1 April of the next tax year.

However, you won’t have to pay this annual fee if you’ve already paid a fee to set up your student loan in that same tax year.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180381.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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Part 5 Matters of general application and miscellaneous matters
Matters of general application

189Annual administration fee

  1. If a borrower has a consolidated loan balance of more than $20 on the close of 31 March in a tax year,—

  2. an annual administration fee of $40 (or any other amount prescribed by regulations) must be charged by the Commissioner to that borrower for that tax year; and
    1. that borrower's loan balance is increased by the amount of that fee on 1 April in the next tax year.

      1. However, no annual administration fee may be charged to a borrower for a tax year if that borrower is charged with a student loan establishment fee under section 14 in that tax year.

      Notes
      • Section 189(1): amended, on , by section 73 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).
      • Section 189(1): amended (with effect on 1 April 2012), on , by section 47 of the Student Loan Scheme Amendment Act 2012 (2012 No 32).