Hon Peter Dunne: Loans Bill focuses on efficiency
A bill tabled in Parliament this afternoon introduces a number of remedial measures to ensure that the student loan scheme functions as intended, Revenue Minister Peter Dunne said today.
“With over half a million borrowers and a nominal value of $9.6 billion, the student loan scheme represents a significant Crown asset and must be managed in an efficient and consistent manner,” Mr Dunne said.
“As well as correcting certain technical aspects of the scheme, the Student Loan Scheme (Exemptions and Miscellaneous Provisions) Amendment Bill will also make interest-free loans available to borrowers who live in countries that are part of the Realm of New Zealand – Niue, the Cook Islands, Tokelau or the Ross Dependency – and who meet the requirement to be present in one of those countries for at least 183 consecutive days.
“This is a very positive move, to encourage people from these countries, which share a special relationship with New Zealand, to return home and contribute to their countries’ futures,” Mr Dunne said.
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