1. What do you understand about repayment obligations for people with a student loan? Complete the statements below by filling in the missing words.
1. A person needs to start paying back their student loan when their goes over the student loan
2. A person’s repayment is the they need to repay for the
3. To make sure a person pays back the correct amount of their they need to select the tax
2. Before we can contact IRD to cease a Student Loan we need to ask the customer a few questions. Select each question that we need to ask
- Has the customer drawn down any further Student Loans?
- Has the customer completed a tax return for the year?
- Have they stopped using the SL tax code with their employer?
- When was the SL last deduction made?
- Has the customer travelled overseas at any point since taking out the student loan?
- Has the customer submitted a copy of their Student Loan balance?
3. 1. When does a person have to start paying back their student loan?
- Once they have finished studying
- When their income is under the student loan repayment threshold
- When their income goes over the student loan repayment threshold
3. 2. A person’s repayment obligation is:
- The amount they need to repay for the tax year.
- A voluntary repayment made by a person towards their student loan.
- The name given to a student loan.
3. 3. If a person has a student loan, what do they need to do to make sure they are paying the correct amount of tax?
- Get a loan to pay it off
- Use the correct tax code
- Pay no tax until the end of the year