Making repayments while overseas
Find out what you need to repay and how to make payments while you're overseas.
What do I need to repay while overseas?
You can make repayments on your student loan before you leave or while you're overseas. If you're overseas and not on a repayment holiday you must make student loan repayments. These will be based on the size of your loan balance and will be due in 2 equal instalments on 30 September and 31 March.
| If your loan balance is ... | then the yearly amount you need to pay is ... |
|---|---|
| under $1,000 | your whole loan balance. |
| over $1,000 and up to $15,000 | $1,000 |
| over $15,000.01 and up to $30,000 | $2,000 |
| over $30,000 | $3,000 |
Your payments can be made either in a lump sum or in smaller payments throughout the year, as long as you meet the payment amounts by the above due dates.
If you're on a repayment holiday or want to pay off your loan faster, you can make voluntary repayments and take advantage of the 10% voluntary repayment bonus. Remember that while you're overseas you'll be charged interest even if you're on a repayment holiday.
How do I make a payment from overseas?
You can make a payment online to your student loan using your credit or debit card. We'll waive the convenience fee for student loan repayments made to Inland Revenue from overseas.
If you're in Australia or the UK you can also use OrbitRemit a free online money transfer service, to pay your student loan - it's fast, easy and secure.
There are other ways to make a payment from overseas such as:
- International money transfer
- Telegraphic transfer
- Foreign bank draft/personal foreign cheque.
Back to What payments do I have to make?
Date published: 27 Sep 2011
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