What are the consequences of defaulting on the loan for studying in New Zealand?
The authorities revealed that another person was recently arrested at the New Zealand border because the student loan was not paid off.
Earlier, the New Zealand government has started a new cooperation with the Australian government to make it easier for those who have not repaid their student loans to be traced.
Steven Joyce, Minister of Higher Education, today warned 1000 Australian students who have not paid off their student loans, saying that if they don't take the initiative to repay their loans, they may be "investigated".
In case of serious breach of contract, these people may be arrested when they leave Australia or enter New Zealand.
The latest data shows that six people have "eaten" arrest warrants and three people have been arrested at the customs. All those arrested will be prosecuted to the court.
At present, the total amount of student loans in New Zealand has reached 65.438+0.7 billion New Zealand dollars, of which 90% borrowers live overseas. A large part of them are currently in Australia. Today, the information sharing agreement between New Zealand and Australian tax authorities came into effect.
Australian tax authorities have confirmed that there are currently 65,438+00,400 people living locally with student loans-accounting for 65,438+00% of the total number.
"The tax bureau will analyze this information, identify those who have not paid off their loans, and start contacting them to urge them to repay their loans." Joyce said.
In addition, he also suggested that people who have not paid off their school loans should take the initiative to contact the tax bureau and make their own repayment plans.
"If you refuse to repay, we will definitely check your water meter in the next few months." Joyce said that the tax information sharing agreement between New Zealand and Australia is a huge and powerful promoter for the tax authorities.
Michael Wood Woodhouse, the finance minister, said that since the "overseas debt collection" began, 300 million student loans have been collected.