Student Loan Repayment Calculator
Estimate your annual student loan repayments based on your income. Repayments are automatically deducted through PAYE.
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The take-home pay calculator combines student loan repayments with all other deductions to show your actual net pay.
Calculate your take-home pay →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 $24,128/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 $24,128/year ($464/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.
Related NZ tax tools
Last updated March 2026. Rates sourced from IRD.