This Act amends the Student Loan Scheme Act 2011.  It alters repayment obligations, calculations and procedures applying to both New Zealand-based and overseas-based borrowers.  This includes providing that new borrowers commencing a loan after 31 December are not subject to the end-of-year assessment for that tax year.  That change applies from 1 April 2012 for the 2013 and future tax years.  The new repayment deduction rate is 12% of the amount earned over the minimum repayment threshold.