Advice re: student loan

[007XX]

Aside from the obvious "don't borrow too much", can anyone offer any pertinent advice on student loans please?

Thanks in advance.

[nodrog:Me]

.... can anyone offer any pertinent advice on student loans please?

Thanks in advance.

I wouldnt loan anything to the drunk smelly fuckers.

[007XX]

I wouldnt loan anything to the drunk smelly fuckers.

I'm not drunk, and I'm pretty sure I'm not smelly

[joan of arc]

If it is interest free then borrow what you can, spend what you have to, invest the rest and pay it off as soon as you are able

[Maha]

I wouldnt loan anything to the drunk smelly fuckers.

When do you want your monkey suit back? Im finished with it.

[007XX]

If it is interest free then borrow what you can, spend what you have to, invest the rest and pay it off as soon as you are able

Cheers, that is sound advice Didn't think of the invest part.

And yes, student loans are interest free in NZ, and only have to start being repaid when earning above a certain level once employed.

I was hoping to get some feedback from someone currently repaying theirs though, to know how this is carried out and whether there is anything that is not being clearly explained on the Studylink website.

[FJRider]

Cheers, that is sound advice Didn't think of the invest part.

And yes, student loans are interest free in NZ, and only have to start being repaid when earning above a certain level once employed.

I was hoping to get some feedback from someone currently repaying theirs though, to know how this is carried out and whether there is anything that is not being clearly explained on the Studylink website.

It is NOT a lump sum amount that you get. If you are intending to do a study course (Polytech or other) ... they pay course fees etc and can pay you a weekly allowance.

It used to be $13,000 (Gross) before you had to start paying it back. And you then need to change your tax code to SL (Student Loan) and your employer (if you have one) will take it out of your pay before you get it.

Full time study is interest free.

I had a few student loans ... which I have paid back in full. ($20,000's worth) I wont say it is painless ... dealing with Inland Revenue never is)

[carburator]

right..

you can borrow for course cost's and materials ( books )
repayment starts when your working and is calculated on how much your earning.
if you leave the country interest is charged ( at what period they start this I don't know )

if you qualify for student allowance and also manage to hold down a part time job or couple
of one offs ( get cash in the hand or fuel in the tank ) as the assholes start mucking around
with repayments thats if you break the $200 mark

if you sign up for a course do it, not like some dumb asses ive seen, start a course and then drop out
and end up 5K worse off..

[007XX]

Thanks guys

So far, this is parallel to what I have found out on the website. I just never take it for granted that all angles are covered by one's own research and asking peeps who have been there is a bit of a safety net.

[FJRider]

Thanks guys

So far, this is parallel to what I have found out on the website. I just never take it for granted that all angles are covered by one's own research and asking peeps who have been there is a bit of a safety net.

Remember .... Inland Revenue have only one rule ... THEY ARE NEVER WRONG.

Should they are be found wrong ... you need a letter from (your) GOD declaring you innocence. Complete with a full 65 page explanation on why they made the mistake. Their usual stance is ... YOU gave ... no / incomplete / wrong / misleading ... information to them.

[mashman]

Aside from the obvious "don't borrow too much", can anyone offer any pertinent advice on student loans please?

Thanks in advance.

Ditch the loans, go the student blowjob root, I mean route. T'will be cheaper in the long run, your facial muscles will thank you for it and your skin will look 10 years younger.

[imdying]

You basically just ignore it, and one day it's gone.... IRD flog your repayments from your wages so you never even notice... just one day you get a 'pay rise'

[007XX]

Remember .... Inland Revenue have only one rule ... THEY ARE NEVER WRONG.

Should they are be found wrong ... you need a letter from (your) GOD declaring you innocence. Complete with a full 65 page explanation on why they made the mistake. Their usual stance is ... YOU gave ... no / incomplete / wrong / misleading ... information to them.

Hmmmmyes, sadly I do know this to be true. A reminder never hurts though

Ditch the loans, go the student blowjob root, I mean route. T'will be cheaper in the long run, your facial muscles will thank you for it and your skin will look 10 years younger.

That comment clearly explains your signature.

[huff3r]

The repayment threshold is now nearly, if not slightly over $20k. Usefull cos it means if you work while you study it's unlikely to affect it.

Above the repayment threshold they take 12 cents in every dollar (from April 2013) AFTER tax. So thats a big chunk of earnings that you don't get once tax, student loan, and Kiwisaver are removed.

Apart from that, go nuts. I challenge you to beat my ballance. (Aviation Student )

[Bikemad]

Ditch the loans, go the student blowjob root, I mean route. T'will be cheaper in the long run, your facial muscles will thank you for it and your skin will look 10 years younger.

aww man....thats gold right there