Date: 10th June 2013
The Government is cracking down on Student Loan borrowing and has announced a number of changes to the scheme in this year’s budget.
If you are nearing 65 or older and were intending to study, you might want to think again. The Government has decided to remove eligibility for over 65s and if you’re over 40, stricter limits will be put in force when you’re applying for a student loan.
That’s not the only area where the government is tightening the reins. Those with student loan debt, who are living overseas, are now in the firing line too. Overseas-based borrowers with higher loan balances will have a higher repayment obligation. It will now be an offence for a borrower to knowingly default on an overseas-based borrower repayment obligation.
For more information on student loans and allowances schemes, visit the StudyLink website.
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