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A successful government pilot programme to recover debt from student loan holders living overseas will be expanded to target a further 50,000 debtors in Australia and the United Kingdom, says Tertiary Education Minister Steven Joyce and Revenue Minister Peter Dunne.
The announcement follows an Inland Revenue pilot targeting 1,000 Australian-based loan holders which has, in the past 10 months, led to the recovery of more than $4.7 million.
- Steven Joyce
- Peter Dunne
- Revenue
- Tertiary Education
Encouraging personal responsibility and getting better value for taxpayers are key features of Budget 2011 changes to the student loan scheme, Tertiary Education Minister Steven Joyce and Revenue Minister Peter Dunne say.
The interest-free nature of the student loan scheme means that every dollar lent out today is worth only around 55 cents in today’s dollars. In 2010/11, the Government will lend out about $1.58 billion in student loans.
- Steven Joyce
- Peter Dunne
- Revenue
- Tertiary Education
- Budget 2011