Wednesday, 20 December 2006
Cabinet paper on student loan bill released
Revenue Minister Peter Dunne today released a Cabinet paper on proposals that led to the introduction in November of the
Student Loan Scheme Amendment Bill.
"I am releasing the Cabinet paper, for public information, because of general interest in the operation of the student
loan scheme, and given the number of borrowers who will be affected by the changes proposed in the bill," Mr Dunne said.
"The main focus of the bill is on resolving problems with the operation of the student loan scheme in relation to
borrowers who are overseas.
"The Cabinet paper provides background to government decisions on matters such as the extension of the amnesty on
penalties, the new repayment rules, reduction of the penalty rate, the three-year repayment holiday, interest
write-offs, adjustments to the hardship provisions, and allowing data matching between Inland Revenue and NZ Customs,"
Mr Dunne said.
The 16 October Cabinet paper is available at www.taxpolicy.ird.govt.nz.
ENDS