Making repayments that are extra your education loan

You may make additional repayments to your loan anytime, even although you make underneath the payment limit. You may make these re re payments to us your self or you can pose a question to your boss to produce additional deductions from your earnings.

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Making repayments that are extra

You could make repayments that are extra us in many various different means. The simplest and fastest method is to produce a payment online with:

  • Internet banking
  • Debit or credit card, or
  • Cash transfers from offshore.

You may make re payments:

Us make sure you let us know whenever you make a payment to:

  • It’s for the education loan, and
  • Your title, target and IRD quantity.

If you are in Australia

It is possible to put up PayWay debit that is direct make regular repayments from your own Australian bank-account. These re payments may be in Australian bucks and we also’ll protect the money transformation cost. Call us clear of Australia on 1800 559 653 setting up your PayWay direct debit.

Credit and debit card re re payments

If you should be an overseas-based debtor you defintely won’t be charged a cost. Nonetheless, brand brand New borrowers that are zealand-based be charged a 1.42per cent charge.

Making additional repayments through your boss

Them know how much extra you want to pay if you want to make extra repayments through your employer, let. They’re going to deliver us the additional quantity along together with your standard deductions every month.

If you choose to stop making additional repayments, or would you like to alter the quantity, simply inform them.

You can easily monitor these repayments throughout your myIR Online Services that is secure account.

Than you need to on your student loan if you repay more

If you’ve paid back your loan in complete, and paid more than you necessary to, you are able to:

  • Spend another income tax billAsk us to move your overpayment to pay for another income tax quantity – we will refund any leftover add up to you.
  • Be given a reimbursementwe are going to refund your overpayment if you don’t possess an overdue goverment tax bill. Your reimbursement may be direct credited to your nominated bank account.

Should your loan is not paid back in full along with no repayments that are overdue you can easily:

  • Leave the quantity on the loan which means that your stability is paid down
  • Place it towards look at more info a payment you’ve got coming
  • Spend another goverment tax bill
  • Demand a reimbursement dependent on your position.

Forward us a protected mail through your myIR protected Online Services account and tell us what you need to accomplish.

Asking for a refund dependent on your position

If you are asking for a reimbursement plus don’t have an amount that is overdue have a look at these situations to determine what one relates to you:

  • When you have a fresh end-of-year that is zealand-based obligationYou can request a reimbursement associated with overpayment within 6 months to be notified.
  • In the event that you generate income from wage or wages and you also’ve made additional repaymentsYou can request a reimbursement associated with additional repayments within 6 months regarding the end associated with income tax 12 months.
  • For those who have a significant over-deductionYou can request a reimbursement associated with the over-deduction within half a year to be notified.
  • If you are overseas-based and you also’ve overpaidYou can request a reimbursement within 6 months for the final date that is due your repayment responsibility for the income tax 12 months you’ve overpa