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Repaying your education loan in complete

Repaying your education loan in complete

It is possible to repay your student loan in complete whenever you want. Uncover what you have to do and what are the results once you have made your final payment.

Before you repay your education loan in full you’ll want to:

  • ensure that your contact and bank account details are as much as date, and
  • get loan that is current balance.

You should check balance and improve your details in your myIR Online Services that is secure account. The total amount shown in your myIR account may possibly not be the balance that is final.

In the event that you generate income from salary or wages

Your manager has until the twentieth regarding the month that is following deliver these to us, therefore the stability shown may maybe not add your most recent repayments. We have to process the re re payments before allocating them to your education loan. Once you learn just how much is deducted from your own earnings you need to use this to focus the amount out you’ll want to spend.

If you should be overseas

Interest will be put into your loan when you have been offshore for 184 times or even more (about half a year). This begins through the after you leave New Zealand day. Write to us if you have been offshore for half a year or even more so we will make certain the amount that is correct of happens to be added.

Outstanding payments or taxation statements

When you yourself have any outstanding repayments or tax statements you need to call us.

In the event that you spend within 1 month to getting your last loan balance

We are going to cancel any interest charged:

  • Between the date the balance was received by you, and
  • if the re payment is due.

You need to do before we can close your loan there are some final things. Continue reading Repaying your education loan in complete