Advice re: student loan

[Edbear]

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

I'm sure you are in the nice way...

[mashman]

That comment clearly explains your signature.

Hmmmmmm... sure, why not. You know where to come for lessons then

[Gremlin]

I'm currently paying mine off, but not sure of the details. Don't attempt to understand any statements they may send you (they're supposed to be quite regular but sporadic is irregular in my book) as they never balance out or make sense. You should never see the money as it's paid direct to the institution.

Make sure any study plans you have are correct, as the money is paid automatically once arranged.

Rules are payback and benefits for paying more and earlier are changing. Currently, if you over pay by $500 or more (or something like that) there is a bonus amount the government wipes off. This is being removed next year and I think the required payback rate is being increased as well. Interest free has been awesome, as I've deliberately paid it back slowly as the real value decreases over the years. Next year I might just wipe the last grand or two that will be remaining and get it over and done with...

[The End]

The system is a bit fucked, but it's free money to study, so take it if you need it.

If you live at home and are under 24 (?) chances are you won't qualify for the student allowance as it is based on your parents' income, but it is $200 odd a week that you don't need to pay back. Even if you don't need it, the smart thing to do would be to register for it, bank/invest the 200 a week and by the end of your degree, you could very well have enough saved to repay your loan (provided you're not borrowing more than ~7k/yr). Unless you have a moral issue with that...

But regardless, I know plenty of people who get the $200 a week and use it as a booze allowance instead of paying for transport/expenses.

You will never see the LOAN money, it goes straight to the university. You can apply for course related costs, which is $1000 that is meant to go towards textbooks, laptops etc. but I believe you can spend it anyway you want. This will need to be paid back though.

tl;dr

student loan = pay back, interest free
course costs = pay back, interest free
allowance = doesn't get paid back

[Gremlin]

Good timing... here's a link sent to email about Student Loan news: http://www.ird.govt.nz/aboutir/newsl...-10-12.html#02

[Brian d marge]

Go to the place u want to study , find out Exactly what u need to do ,

Go home , get a job and in your spare time study on ur own

when you are confident

sign up for the bare minimum amount

pass those exams

then A; fk off to another country
B; stay in NZ and pay back the bare minimum u borrowed

Remember anyone who studied pre 1080 sorry 1980 never had the loans we have ,,,,,

Stephen

[007XX]

Thanks all ( and especialy Gremlin), that is very helpful.

At my age, I am not elligible for a student allowance, so will have to repay every cent I get.

But I don't mind, I'm no system bludger. I just want to get ahead and finally have a qualification.

[FJRider]

Thanks all ( and especialy Gremlin), that is very helpful.

At my age, I am not elligible for a student allowance, so will have to repay every cent I get.

But I don't mind, I'm no system bludger. I just want to get ahead and finally have a qualification.

There are two methods of weekly payment ... one is a student allowance that doesn't get paid back (like a benefit) and a student loan based payment which does need paid back.