Student Loan Repayment Calculator NZ
12% of income above the repayment threshold; modelled with optional voluntary top-up.
NZ$
NZ$
NZ$
Years to clear
3.8
$5,744.64 per year ($110.47/wk PAYE + $0.00 voluntary)
| Compulsory weekly repayment | $110.47 |
|---|---|
| Compulsory fortnightly | $220.95 |
| Compulsory monthly | $478.72 |
| Compulsory annual | $5,744.64 |
| Voluntary annual | $0.00 |
| Total annual | $5,744.64 |
| Years to clear at this rate | 3.8 years |
About this calculator
Compulsory repayment of a NZ student loan is 12% of your income above the annual repayment threshold ($24,128 in 2025/26). Salary earners have it deducted automatically by IRD using the SL tax-code suffix; self-employed pay it via end-of-year tax assessment.
- Voluntary lump-sum repayments cut the balance fast — and there's no longer a 5% bonus.
- Overseas-based borrowers (SLBOR) pay a fixed annual amount based on the loan balance.
- Loans are interest-free for NZ-resident borrowers.
Frequently asked questions
When does the loan attract interest?
When you become an overseas-based borrower (away 6+ months) — interest then accrues at IRD's prescribed student-loan rate.
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Calculator NZ provides general information only. For decisions with significant financial, medical or legal consequence please consult a qualified professional.