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NZ Govt collect student loan debts from expats

Thursday, September 15, 2011 - Posted by Philip Harvey

In New Zealand an interesting paradigm exists where the amount of Student Loans owed by New Zealanders now living overseas is around NZ$183 million, as opposed Student Loans owed by New Zealanders living within NZ around NZ$142 million. The amount overdue by the expats has increased by 60% in 3 years, whilst the amount owed by the locals has decreased by 26%.

Given the huge increase in the Expats, it almost appears that it was a known loophole being exploited by some.To combat this problem, the NZ Government has widened its collection net to chase down 50,000 expats living in Australia and the United Kingdom.

A previous pilot scheme aimed at 1,000 former students in Australia netted the NZ Government NZ$4.7 million in 10 months, with payments of up to NZ$60,000 at a time when contact was made about the debts.

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