Parliament alters student loan scheme under urgency
Increased fees and repayment requirements on the horizon, but also improvements to loan management
Increased fees and loan repayment requirements are on the cards for student borrowers, following the passing under urgency of changes to the Student Loan Scheme Act last Wednesday.
Most significant is the creation of a power for the Government to recall in full the student loans of "serious defaulters", including outstanding interest and penalties.
The one-off establishment fee of $50, which is applied to loans when they are first taken out, will increase to $60.
A more positive development for borrowers is the introduction of a single online management tools for loans, allowing students to access and alter their details without needing to use both an IRD and Studylink system.
The changes passed with dissent only from the Green Party and independent MP Chris Carter.
Full details of the legislative changes are available at the Parliament website, and in Canta next term.
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