Cancelling your Student Loan
You can cancel your Student Loan at any time but you'll need to pay back any payments you've received.
Before loan is approved
Contract not yet returned
If you get your Student Loan contract online, you can cancel it in MyStudyLink. You'll need to:
- click 'Student Loan Contract'
- click 'Continue'
- select 'Discontinue Loan' and click 'Continue'.
Contract has been returned
After loan is approved
Approved less than 7 days ago
To cancel your Student Loan contract you need to:
- call us straight away so we can stop any payments going out
- email us before the 7 days is up - select 'Loan cancellation' as the topic.
You'll need to pay us back any money that you've received. If you pay this back within 7 working days of when your loan was approved, the $60 establishment fee will be waived.
Once you contact us, we'll send you a letter to let you know how much you owe on your Student Loan and how you can pay us back.
Approved more than 7 days ago
If we've paid any money, you'll need to pay this back to Inland Revenue. If your education provider refunds any compulsory course fees, they'll be paid directly to your loan.