3477 (2025). Dr Lawrence Xu-Nan to the Minister for Universities

3477 (2025). Dr Lawrence Xu-Nan to the Minister for Universities: From 1 April 2025, will student loan borrowers based overseas who make a late payment be charged interest of 7.9% on their overdue amount as well as being charged an annual interest of 4.9% on their student loans?

Hon Dr Shane Reti: No. I am advised by the Ministry of Education that overseas based borrowers will be charged 4.9% on the part of their student loan which is not overdue. They will be charged 8.9% on the overdue amount. No part of the loan will be charged both rates.