2008 media releases
Thousands apply for student loan amnesty
29 May 2008
The student loan amnesty has provided thousands of overseas borrowers with the opportunity to make a fresh start on their student loan.
The amnesty was available to student loan borrowers who were living overseas, had fallen behind in their repayments and would have incurred late payment penalties on their loan without the amnesty.
More than 13,000 borrowers applied by the deadline of 31 March 2008 and have agreed to begin making regular repayments on their student loans.
"This is a very good result," said Student Loans Programme Director Ron Grindle. "We're delighted with the response, given that borrowers overseas are a difficult group to contact.
"Reaching these people was our biggest challenge. However, the advertising campaign targeting eligible borrowers and their friends and families, spread over nine months and conducted here and overseas, proved to be very successful."
Mr Grindle said that while those student loan borrowers who hadn't applied for the amnesty by the deadline are getting a penalty added to their loan balance, they will be no worse off. "The penalty will be no greater than the original late payment penalties that would have applied," he said.
"Student loan borrowers have an obligation to repay their loans and, if they're going overseas for more than six months, to tell us, said Mr Grindle. "We urge all student loan borrowers who are considering going overseas to make sure they talk to us before they go."
For more information on student loan repayment obligations, visit www.ird.govt.nz/studentloans
Ends
For more information:
David Balham
Inland Revenue
(04) 890 1743
029 890 1743
david.balham@ird.govt.nz
Other media releases this year
- Accountant sentenced for tax evasion
- Invercargill accountant jailed for tax evasion
- Dairy owner sentenced for hiding half a million
- Tauranga court jails man for tax evasion
- Most Working for Families recipients not charged interest for overpayments
- Former Kaikohe farm manager jailed for tax evasion
- Auckland plasterer jailed for tax evasion
- New callback service rolled out across Call Centre
- Former employee sentenced
- KiwiSaver report released
- Inland Revenue expands e-services
- Do-it-yourself tax refunds
- Employers reminded about new tax rates
- Former Inland Revenue employee pleads guilty to corruption
- Sentencing strong message for contractors
- Accountant jailed for defrauding clients and Inland Revenue
- Inland Revenue pilots callback system to help customers
- Inland Revenue proposes changes to company tax return
- Agricultural contractor sentenced
- Jail for horticultural student
- Tax fraud results in jail term
- Early Working for Families Tax Credits payments
- Inland Revenue wins People's Choice NetGuide web award for second time
- Waikato couple sentenced for tax evasion
- Inland Revenue warns about income diversion
- Report of investigation of an error in tax revenue numbers
- Tax credits for people made redundant
- R&D tax credit goes live
- Student Loan amnesty - last chance to apply
- Revised financial statements
- Tax advice for investors in failed finance companies
- Tax advice for property investors
- Provisional tax gets easier
- Early Working for Families Tax Credits payments
- IRD numbers about to get longer
- Tax authorities work together to stop international tax evasion
- Inland Revenue helps drought-affected farmers
- IRD numbers available at NZ Post and AA
- Inland Revenue warns against divulging personal details
- Second jail term for major tax scam
- Welcome surprise for owners of forgotten money
- End-of-year tax date fast approaching
- Time running out for student loan amnesty
Corporate Affairs
Inland Revenue
To make a media query:
Phone 04 890 1698 or email mediaqueries@ird.govt.nz
Please note, the email address is only for enquiries from the news media. It is monitored during normal business hours 8am - 5pm Monday to Friday.
P O Box 2198
Wellington 6140
New Zealand
Date published: 30 May 2008
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