Loan change a boon for students

Students will be able to earn nearly $500 more from next year without starting to repay loans or losing their interest write-offs, the Government said yesterday.

The income level at which borrowers must begin to repay their loans will rise from $15,496 to $15,964 from next April.

The income level under which part-time or part-year borrowers may have interest on their loans fully written off will rise from $25,378 to $25,909. Full-time students will continue to get a full interest write-off regardless of income.