25 Feb 2010

Student loan repayments bill passed

5:58 pm on 25 February 2010

A bill that will increase student loan repayments for those who have missed or failed to make payments has passed its final reading in Parliament.

Currently, borrowers who fail to have correct deductions made or fail to pay any other due amount face a standard rate of repayment deduction of 10c in the dollar. The bill raises that to 15c in the dollar.

The bill passed by 113 votes to nine with the Greens voting against it. The Green Party says the student loan scheme is already a heavy enough burden on many students.