Find out your options if you’re having difficulty making repayments.

Repayments from your salary or wages

You should check you're using the correct tax code to make sure the right amount is being deducted.

If you're a salary or wage earner, you may qualify for one of the following:

Repayment deduction exemption

You will qualify for the repayment deduction exemption if:

• you're studying full-time,
• and working, and
• you'll earn less than $19,084 for the tax year from all sources.

This exemption means you don't have to use a student loan repayment code and won't have any student loan repayment deductions from your salary or wages for the period specified on the certificate.

Special deduction rate

You may be able to reduce the amount of student loan deductions on your secondary income if you qualify for the special deduction rate. This will be if:

• you have more than one job, and
• you'll earn less than the pay period repayment threshold (eg. $367 per week) in your main job

If you're already using the right tax and repayment code for your salary or wage income and you're still finding it difficult having repayments deducted from this income, contact us to discuss other options which may be available depending on your circumstances.

If you have an amount due or overdue

If you have an amount due or already overdue and need more time to pay, then you may be able to negotiate an instalment arrangement. You can complete an instalment arrangement proposal online.

If you're unable to pay anything towards the amount due then contact us as soon as possible. You don't have to wait until the due date for payment has passed.

If we accept an instalment arrangement, we’ll charge late payment interest (formerly late payment penalty) at the reduced rate on unpaid amounts of $334 or more, for each month you keep to the instalment arrangement. For any months you don’t keep to it, we’ll charge late payment interest at the full rate.

It’s in your best interest to sort out your amount due or overdue as soon as you can. Borrowers, who have consistently not paid their repayment obligation, may have to repay their full student loan immediately, whether or not the entire amount is outstanding.

If you become bankrupt

If you become bankrupt, your student loan will be included in your bankruptcy.