Student Loan Repayment Calculator
Estimate your annual student loan repayments based on your income. Repayments are automatically deducted through PAYE.
How NZ Student Loan Repayments Work
New Zealand student loan repayments are income-based. If you earn above the repayment threshold, your employer automatically deducts repayments through the PAYE system.
The repayment rate is 12% on income above $22,828/year (for both 2024-25 and 2025-26).
There is no interest on student loans for NZ-based borrowers. Interest applies only if you move overseas.
Frequently Asked Questions
What is the student loan repayment threshold?
For both 2024-25 and 2025-26, the repayment threshold is $22,828/year ($439/week). You only repay 12% of income above this amount.
Is there interest on NZ student loans?
No — for NZ-based borrowers, student loans are interest-free. Interest only applies if you live overseas for more than 6 months.
Can I make extra repayments?
Yes. You can make voluntary extra repayments through myIR (IRD's online service) at any time to pay off your loan faster.
What happens if I move overseas?
If you move overseas for more than 183 days, interest starts accruing on your loan. You must make repayments directly to IRD based on a repayment obligation.
Sources
Rates sourced from Inland Revenue (IRD) — Student Loans.