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Over $100 million of additional taxpayer money has now been collected from overseas-based borrowers in an initiative that will help keep the scheme sustainable for future students and taxpayers, Tertiary Education, Skills and Employment Minister Steven Joyce and Revenue Minister Todd McClay say.

The overseas-based borrowers initiative began as a small pilot programme in 2010 and has since expanded to comprehensively target borrowers in default of their repayment obligations across Australia and the United Kingdom, plus parts of Europe, North America and Asia.

  • Todd McClay
  • Steven Joyce
  • Tertiary Education, Skills and Employment
  • Revenue

The Student Loan Scheme Amendment Bill (No. 3), introduced in August 2013, passed its final stages in Parliament today.

The new legislation includes tougher measures to deal with student loan borrowers who persistently refuse to make repayments and introduces higher repayment obligations for overseas-based borrowers to assist them to pay off their loans sooner.

  • Todd McClay
  • Steven Joyce
  • Revenue
  • Tertiary Education, Skills and Employment

The Student Loan Scheme Amendment Bill (No 3), which changes repayment obligations for overseas-based borrowers and tougher measures for persistent non-payers, passed its second reading in Parliament today. 

“This legislation continues the Government’s focus on providing fairness to the taxpayer through proper oversight of the student loan scheme,” Revenue Minister Todd McClay says.

  • Todd McClay
  • Steven Joyce
  • Tertiary Education, Skills and Employment
  • Revenue