Student Loan Repayments


I originally took out my student loan in 2001 with the understanding that my repayment options were I could either make voluntary repayments from the begining of my approved loan or up until I meet the required $38,000 per annum income threshhold.Has anyone gone over their original student loan contracts pre dating the law change? How legal is this change under the consumer contract law?

Posted by on 16 Jul 2013

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  • [0] [0]
    Dakuwaga

    Were you covered by HECS...my son now owes about $5,000 but because he now earns under the $38,000 threshhold, his payment has stopped....Your Taxman can help you as he will know what you have paid and what is due....my son took out loan with HECS in 1998 so do not worry....if you can no longer pay voluntarily...Wait until you earn over $38,000 and then you tell the Co. you work for to deduct for HECS...it will depend on what you earn...I think there is a table of payment.....My son is working part-time for a while..trying to get into the field in the city...he was earning well over before but left the Co. to travel overseas....hope I am of some help...

    Posted by Dakuwaga on 24 Jul 2013
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  • [1] [0]
    mishiee56

    May be you should have read the paper work in more detail in the first instance. That way you would be less troubled now, if you had. Sorry I can not be of any help to you except, tell you to go and speak to them and see what they can do! Cheers Mishiee56

    Posted by mishiee56 on 22 Jul 2013
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  • [1] [0]
    Hazza$$$

    you should refer to your loans/package & documents provided to you when you first took out this loan and if all required document information is not available or understandable to you, then you should contact the loan providers in person, regarding your inquiries about the loan you have and its repayment policies and terms/ conditions.. also request info on the newest/latest consumer contract laws since last changed and effects it has on your loan & how legal is the new law under the consumer contract laws provisions etc..

    Posted by Hazza$$$ on 22 Jul 2013
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  • [2] [0]
    agypsy

    Are you asking for the purpose of maybe not repaying because of a loop hole. Maybe you should see a lawyer and he can go over this with you. It's a strange thing to ask without explaining why you ask this. Just interested with your enquiry

    Posted by agypsy on 22 Jul 2013
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  • [0] [1]
    Yarni

    Everything either takes timing or money you're better of talking with who gave you the loan maybe

    Posted by Yarni on 21 Jul 2013
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  • [1] [2]
    Redfella

    Just remember that everything costs be it time or money!

    Posted by Redfella on 21 Jul 2013
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