To those who have family members with a student loan, the following is vital reading.

This bill will seriously affect those who pay interest only on a loan over $45,000-00.

Student Loan Scheme Amendment Bill (No 3)

The bill was introduced in August last year and passed through the final stages at Parliament on Thursday of last week.

From April 1, Inland Revenue will be able to seek an arrest warrant to deal with serious defaulters and the repayment rates of those with loan balances of more than $45,000 will be increased. Student loan borrowers who persistently refuse to make repayments will soon be dealt with under the Student Loan Scheme Amendment Bill (No 3).