Overseas Student Loan Repayment Calculator
Calculate your NZ student loan repayment obligations while living abroad. See how country-specific rules, interest, and voluntary payments affect your payoff timeline.
Once you're overseas-based (fewer than 32 days in New Zealand in a 184-day period), IRD stops basing your student loan repayments on your income. Instead, you pay a fixed annual amount set by your loan balance — the same table applies no matter which country you live in. Interest (currently 5.6% p.a.) is charged on the balance; NZ-based borrowers remain interest-free.
Annual repayment obligation
Interest Accrued (5.6%)
New balance after year
The 30 Sept / 31 Mar split is exact — half the annual obligation on each date, with any indivisible cent added to the 31 March payment (Student Loan Scheme Act 2011 s 112). This calculator models interest as a single annual charge on the balance, a simplification of IRD's actual accrual — see IRD's overseas repayment table.
Minimum Only
23
years to repay
With Voluntary Extra
23
years to repay
Repayment suspension: you can take a break from overseas-based repayments for up to 12 months if you apply before you leave or within 6 months of leaving NZ. Interest still accrues during a suspension.
32-day rule: you stay NZ-based while you're in New Zealand for 32 days or more in any 184-day period, so you can't be away more than 152 days in a row. After you come back, you're NZ-based again (interest-free from the day you arrived) if you're in New Zealand for at least 152 of the next 183 days.
Moving across the Tasman? See the full Moving to Australia from NZ guide — tax residency, KiwiSaver, student loan and NZ Super.
Your Repayment Action Timeline
This calculator gives an estimate from IRD's published repayment table. Your own notice of assessment in myIR is what actually applies — use it to confirm the figures below before you pay.
-
Now, or when IRD notifies you
Check your actual assessment in myIR
This calculator is an estimate — IRD's notice of assessment is what your repayments are actually based on. If one or both due dates have already passed by the time IRD sends your notice, they may adjust the dates for you. If you have an active temporary repayment suspension, you'll get a separate assessment showing $0.00 owing for the suspension period instead of the regular repayment notice.
Log in to myIR → -
Before 30 September
Confirm what's credited, then pay from overseas
Check your myIR account for payments already credited toward your first instalment — a payment can take several days to appear, so the balance shown isn't always current. Then pay using myIR direct debit (if you're in Australia, the UK, Europe, Canada or the US), a card, or an international transfer. Send it early: it's your responsibility to make sure the payment clears by the NZ due date, and to check whether your bank or transfer provider charges international fees.
Paying from overseas → -
By 31 March
Read the March figure as a running total, not an extra payment
IRD's repayment table labels the March column the "total amount to pay by 31 March" — it's the cumulative amount for the whole year, including what you already paid in September, not an additional payment on top of it. For example, a $4,000 annual obligation is $2,000 by 30 September and a running total of $4,000 by 31 March — another $2,000 paid then, not $4,000 more.
IRD repayment table → -
If you can't pay, or things change
Contact IRD before the due date
Struggling to meet the fixed repayment? You can apply to negotiate the amount for the current year with an overseas-based borrower relief application. A temporary repayment suspension is a separate option — up to 12 months, applied for in myIR or by phone, either before you leave or within 6 months of leaving — but it isn't automatic: you have to apply, give IRD a New Zealand-based contact person, and interest keeps accruing on your balance the whole time.
Overseas-based borrower relief application →
How Overseas Student Loan Repayments Work
If you spend fewer than 32 days in New Zealand in a 184-day period, you become overseas-based and your student loan repayment rules change completely. IRD is explicit that once you're overseas-based, repayments are not based on your income — they're a fixed annual amount set by your loan balance, and interest starts accruing on your balance.
The annual repayment obligation is the same whichever country you live in (apart from Niue, the Cook Islands, Tokelau and the Ross Dependency, where you are generally treated as NZ-based): $1-$15,000 — $1,000/year; $15,001-$30,000 — $2,000/year; $30,001-$45,000 — $3,000/year; $45,001-$60,000 — $4,000/year; over $60,000 — $5,000/year — capped at your loan balance if that is smaller. It is paid in two equal instalments — half on 30 September and half on 31 March. So the top band works out at $2,500 and $2,500, not a smaller payment followed by a larger one.
The overseas interest rate is 5.6% per year (effective 1 April 2026, up from 4.9% the previous year), calculated daily on your outstanding balance and added to the loan once a year. This makes voluntary extra payments highly effective — every dollar you pay above the fixed obligation reduces both your principal and the future interest that would have accrued.
You can apply for a temporary repayment suspension of up to 12 months before you leave or within 6 months of leaving New Zealand (interest still accrues during the suspension). Under the 32-day rule you stay NZ-based while you're in New Zealand for 32 days or more in any 184-day period, so you can't be away more than 152 days in a row. After you come back, you're NZ-based again (interest-free from the day you arrived) if you're in New Zealand for at least 152 of the next 183 days.
Frequently asked questions
How do NZ student loan repayments work when living overseas?
If you spend fewer than 32 days in New Zealand in a 184-day period, you become overseas-based and IRD stops basing your student loan repayments on your income. Instead you pay a fixed annual amount set by your loan balance — the same table applies whichever country you live in (apart from Niue, the Cook Islands, Tokelau and the Ross Dependency, where you are generally treated as NZ-based). Your loan also becomes interest-bearing (currently 5.6% per year) once you're overseas-based, unlike NZ-based borrowers whose loans are interest-free.
How much do overseas-based borrowers repay by loan balance?
IRD's fixed annual repayment table (due 30 September and 31 March) is: $1-$15,000 — $1,000/year; $15,001-$30,000 — $2,000/year; $30,001-$45,000 — $3,000/year; $45,001-$60,000 — $4,000/year; over $60,000 — $5,000/year — capped at your loan balance if that is smaller. This does not depend on your income or which country you live in (apart from Niue, the Cook Islands, Tokelau and the Ross Dependency, where you are generally treated as NZ-based).
What is the overseas student loan interest rate?
The overseas borrower interest rate is 5.6% per year (effective 1 April 2026, up from 4.9% in the 2025-26 tax year), calculated daily on your outstanding balance and added to the loan once a year. This is different from NZ-based borrowers, who pay no interest. Interest applies once you become overseas-based (fewer than 32 days in New Zealand in a 184-day period), backdated to the day after you left New Zealand. Late payments attract a higher rate of 9.6% (7.6% if you arrange an instalment plan).
What happens if I don't repay my student loan while overseas?
If you fail to meet your overseas repayment obligations, your loan goes into default and the late payment interest rate of 9.6% (higher than the standard 5.6%) applies, reducible to 7.6% with an arranged instalment plan. IRD may issue an assessment of your repayment obligation and can take collection action. When you return to New Zealand, the defaulted amount may be collected through PAYE deductions at a higher rate. For serious default, IRD can also apply for an arrest warrant if you are about to leave, or attempt to leave, New Zealand (Student Loan Scheme Act 2011 ss 162A-162B).
How do I make student loan repayments from overseas?
You can make repayments through myIR (IRD's online portal) using a credit or debit card, or via an international bank transfer. Many overseas-based borrowers set up automatic payments through their foreign bank account to IRD's nominated bank account. You should also update your contact details and overseas address in myIR so IRD can communicate your repayment obligations each year.
Can voluntary extra payments reduce my overseas student loan faster?
Yes — making voluntary extra payments on top of your fixed repayment obligation can significantly reduce the time it takes to pay off your loan. Because interest accrues at 5.6% on your outstanding balance each year, every extra dollar you pay reduces both the principal and the future interest that would have accrued on that amount. This calculator shows you exactly how many years faster you could be debt-free with additional payments.
Can I get a repayment holiday or apply for hardship while overseas?
You can apply for a temporary repayment suspension (repayment holiday) of up to 12 months if you apply before you leave or within 6 months of leaving New Zealand — interest still accrues on your balance during the holiday. Separately, if you are struggling to repay you can send IRD an overseas-based borrower relief application, and IRD may write off loan interest it considers equitable in some cases; contact IRD directly to check eligibility.
Sources
Rates sourced from Inland Revenue (IRD) — Student Loans and the IRD overseas borrower guide.
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Rates sourced from IRD.
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