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Hardship and defaulting on my student loan

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You may find yourself in a difficult situation while repaying your loan. Talk to us if you find yourself in hardship or if you are going to miss a payment. We can try to make things easier.

We will let you know about options that may help you. We might be able to reduce your repayment obligations, or you can propose an instalment arrangement to suit your situation.

We’ll ask you about your financial situation. We might ask you for details of your income and expenditure.

Send a Disclosure of financial position - IR590

Send a Student loan overseas based borrower repayment application - IR219

Late payments and borrowing more

You will not be able to take out a new student loan if:

  • your overdue student loan amount is more than $500
  • any part of that debt is 12 months or older.

You will need to pay off the outstanding amount before you can borrow more.

You can check in myIR whether you have any late payments.

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Missing payments

If you miss a payment on your student loan, you may get a late payment penalty.

Student loan interest and fees