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Student Loan Repayment Calculator

Work out your student loan repayments in New Zealand or overseas, and how long it will take to pay off your loan.

$

A year

$
More options
%

Repayment this year

$4,305

About $166 a fortnight, taken from your pay

Paid off in
6 years
Total you’ll repay
$25,000

What this means

Repayments depend on what you earn, not what you owe: they’re taken through the tax system once your income passes the threshold, and stop if it falls below.

On these numbers you clear it in full, so paying extra early would save some of the growth on the balance.

Next step

Year by year

YearSalaryRepaidOwed at the end
1$60,000$4,305$20,695
2$61,800$4,521$16,175
3$63,654$4,743$11,432
4$65,564$4,972$6,459
5$67,531$5,208$1,251
6$69,556$1,251$0

About your loan

Your loan is interest-free while you live in New Zealand. You repay 12% of your pay over $24,128, taken from each pay.

If you move overseas for more than 184 days, interest starts and your repayments change.

Assumptions in this estimate
  • Your pay rises by 3% a year. Repayment thresholds stay at today’s levels.
  • Assumes you stay in New Zealand the whole time.
  • Extra voluntary repayments aren’t included.
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How the calculator works

  1. In New Zealand: you repay 12% of your pay over $24,128 a year, taken from each pay. There’s no interest.
  2. Overseas: you repay a fixed amount based on your balance, and interest is added.
  3. Year by year: your pay rises by the amount you choose under More options, until the loan is repaid.

Repayments if you live overseas

Loan balance Yearly repayment
Under $1,000 The whole balance
$1,000 to $15,000 $1,000
$15,001 to $30,000 $2,000
$30,001 to $45,000 $3,000
$45,001 to $60,000 $4,000
Over $60,000 $5,000

At 5.6% interest, a balance over about $89,000 grows by more than $5,000 a year, so the minimum repayment no longer brings it down.

Last updated

Frequently asked questions

How much will I repay on $60,000?

12% of your pay over $24,128: $4,304.64 a year, or about $166 a fortnight. A $25,000 loan would be repaid in about 6 years.

Is my student loan interest-free?

Yes, while you live in New Zealand. If you go overseas for more than 184 days, you’re charged interest: 5.6% a year from 1 April 2026.

How much do I repay if I live overseas?

A yearly amount set by your balance: $1,000 for every $15,000 you owe, up to $5,000 if you owe over $60,000. It’s due in two halves, on 30 September and 31 March.

What if I miss a repayment?

Inland Revenue charges late payment interest on overdue repayments, so contact them early if you can’t pay.