Student Loan Crack Down

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Forums › Finance and wealth management › Student Loan Crack Down

BTR

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#196530 3-Jun-2016 10:54

Have just read this on the NZ Herald. Student Loan Crackdown I don't feel sorry for the lady at all, you take out a student loan you still have to pay it regardless of whether you complete the course or not.....

Fishing for sympathy by talking to the media is just going to backfire for this lady. Obviously she will be arrested at the border because its not as though she will have any assets in NZ that can be seized to pay off the loan.

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#1564921 3-Jun-2016 11:22

Why do some people take out a student loan and then when its time to pay back the loan claim that the rules are unfair. You have agreed to the loan so you agree to the terms and conditions.

heavenlywild

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#1564923 3-Jun-2016 11:26

Seriously, no sympathy at all from my end.

What part of "money is not free" do people like her don't get?

The "oh I forgot about it" is just not an excuse and shows lack of responsibility on her part.

Peppery

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#1564924 3-Jun-2016 11:28

This just makes me angry. I wouldn't feel sorry if they sent the debt collectors to her in Aussie.

It's a loan, not a gift.

dickytim

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#1564928 3-Jun-2016 11:37

myndlyz:

Why do some people take out a student loan and then when its time to pay back the loan claim that the rules are unfair. You have agreed to the loan so you agree to the terms and conditions.

Try that with a bank!

myndlyz

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#1564929 3-Jun-2016 11:39

dickytim:

myndlyz:

Why do some people take out a student loan and then when its time to pay back the loan claim that the rules are unfair. You have agreed to the loan so you agree to the terms and conditions.

Try that with a bank!

hmmmm

might just do that

I'm sure the Herald will have my back

kobiak

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#1564932 3-Jun-2016 11:42

can't NZ IRD contact AU IRD equivalent and ask to deduct loan repayment from her earnings?

I know some countries require their citizens to submit Tax forms back in their "home"/citizenship country even they pay taxes in the country they currently living. And sometimes pay tax difference.

helping others at evgenyk.nz

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heavenlywild

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#1564936 3-Jun-2016 11:43

"Mr Puna, who has lived in the Cook Islands for 13 years and whose $40,000 loan had ballooned to about $130,000, said the IRD sent reminder letters to the wrong address."

And for some unknown reason, some people can think this could be used as an excuse?

Good on the IRD for doing what they do.

Davy

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#1564948 3-Jun-2016 11:59

kobiak:
can't NZ IRD contact AU IRD equivalent and ask to deduct loan repayment from her earnings?

I know some countries require their citizens to submit Tax forms back in their "home"/citizenship country even they pay taxes in the country they currently living. And sometimes pay tax difference.

My thought exactly! Get rid of the punitive late payment rates that have created these debt blowouts, and form reciprocal arrangements with Australia and Britain.

Sam91

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#1564952 3-Jun-2016 12:05

Based on my conversations with fellow students, there are still some students totally unaware of what their loan entails. I can only see this problem increasing in years to come.

If I ever go overseas for longer than 6 months, I will have to weigh it up with the interest I will incur. I guess many don't do this at all, they simply just go.

nathan

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#1564993 3-Jun-2016 12:37

Peppery:
This just makes me angry. I wouldn't feel sorry if they sent the debt collectors to her in Aussie.

It's a loan, not a gift.

As of next week the Australian version of IRD will be able to

nathan

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#1564994 3-Jun-2016 12:39

It's all John Keys fault this lady took out a loan 21 years ago, moved to a higher wage economy with at times a much higher exchange rate and chose not to pay anything back on her loan

Waaa waaa I feel so sorry

Signed
The long suffering NZ taxpayer

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darylblake

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#1564996 3-Jun-2016 12:40

No sympathy here either.

I have had 2 student loans, one about 20K and one for about 10K. I have paid BOTH of them off, with regular deductions from my salary/wages over the years.

If you borrow the money pay it back. Don't run away and then cry when the chickens come home to roost. Make arrangements to get it sorted.

nathan

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#1564999 3-Jun-2016 12:40

Sam91:
Based on my conversations with fellow students, there are still some students totally unaware of what their loan entails. I can only see this problem increasing in years to come.

If I ever go overseas for longer than 6 months, I will have to weigh it up with the interest I will incur. I guess many don't do this at all, they simply just go.

Don't they teach people maths and how to read before you sign stuff in NZ any more

I blame John Key for underfunding schools teaching maths and reading

Linuxluver

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#1565000 3-Jun-2016 12:43

BTR:

Have just read this on the NZ Herald. Student Loan Crackdown I don't feel sorry for the lady at all, you take out a student loan you still have to pay it regardless of whether you complete the course or not.....

Fishing for sympathy by talking to the media is just going to backfire for this lady. Obviously she will be arrested at the border because its not as though she will have any assets in NZ that can be seized to pay off the loan.

Look....this is a red herring deisgned to distract from the billions in unpaid tax by multi-nationals operating in NZ. Key's been under pressure over this and all those foreign trusts in NZ used by criminals and other tax dodgers elsewhere.

So......Go kick a beneficiary or some students. Presto. Headline.

That unpaid tax? Oh yeah....forgot about that. Dory-brained Kiwi public distracted yet again.

_____________________________________________________________________

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nathan

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#1565001 3-Jun-2016 12:44

Linuxluver:
BTR:

Have just read this on the NZ Herald. Student Loan Crackdown I don't feel sorry for the lady at all, you take out a student loan you still have to pay it regardless of whether you complete the course or not.....

Fishing for sympathy by talking to the media is just going to backfire for this lady. Obviously she will be arrested at the border because its not as though she will have any assets in NZ that can be seized to pay off the loan.

Look....this is a red herring deisgned to distract from the billion in unpaid tax by multi-nationals operating in NZ.

Go kick a beneficiary or a student. Presto. Headline.

That unpaid tax? Oh yeah....forgot about that. "Dory-brained Kiwi public" .

Did those multinationals break the law?

No. Ok, get the law changed.

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