NZ student loan repayment calculator 2026
Work out your student loan repayments in New Zealand: the deduction from each pay (12% of every dollar over the repayment threshold of $24,128), deductions from a second job, the end-of-year repayment if you're self-employed or have other income, and your interim repayments. It matches the IRD's worked examples.
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CalculatorThresholdsWorked examplesFAQ
Repayment thresholds
| Paid | Pay-period repayment threshold |
|---|---|
| Weekly | $464 |
| Fortnightly | $928 |
| Every 4 weeks | $1,856 |
| Monthly | $2,010.66 |
| Year | $24,128 |
The annual threshold is $24,128 for the 2025 tax year and later years, and the repayment rate is 12%. The threshold doesn't apply to secondary jobs (SL secondary codes), because it's already used by your main job. Self-employed and other income (your adjusted net income: business, rental, interest, dividends, trust and overseas income, less expenses, ignoring losses) is repaid at the end of the year.
Worked examples (IRD)
- Main job: $600 a week − $464 threshold = $136 × 12% = $16.32 a week.
- Second job: $200 a week × 12% = $24 a week.
- Interim repayments: last year's end-of-year repayment of $2,300 + 5% = $2,415, or $805 on each of 28 August, 15 January and 7 May. If last year's return isn't filed, it's the repayment from 2 years ago + 10%: $2,300 → $2,530.
- IRD Tax Technical: $9,000 × 110% ÷ 3 = $3,300 first interim payment. After the return shows $11,428.60: ($11,428.60 × 105%) × 2 ÷ 3 − $3,300 = $4,700, then $4,000.
Typical case: $60,000 salary paid fortnightly plus $8,000 of self-employed income. Pay deductions are 12% of ($2,307.69 − $928) = $165.56 a fortnight ($4,304.56 a year). Because the salary is already over $24,128, the end-of-year repayment is 12% of $8,000 = $960. Total $5,264.56. That's under $1,000 at the end of the year, so there are no interim repayments.
FAQ
What is the student loan repayment threshold in NZ?
$24,128 a year for the 2025 tax year and later years. That is $464 a week, $928 a fortnight, $1,856 every 4 weeks or $2,010.66 a month. You repay 12% of every dollar over the threshold.
How much is taken from my pay for my student loan?
12% of your pay above the pay-period threshold for your main job. For example, $600 a week less $464 is $136, and 12% of that is $16.32. A second job on an SL secondary code has 12% taken from all of it.
Do I pay student loan on self-employed income?
Yes. If your adjusted net income (self-employed, rental, interest, dividends and other non-salary income, less expenses) is $500 or more and your total income is over the threshold, you have an end-of-year repayment of 12%. If your salary is already over $24,128, it’s 12% of all of the other income.
What are interim student loan repayments?
If your end-of-year repayment is $1,000 or more, you make interim repayments in the next tax year: last year’s repayment plus 5%, split across 28 August, 15 January and 7 May. They count towards that year’s end-of-year repayment. You can estimate a lower amount in myIR if your income drops.
Is there interest on NZ student loans?
Not while you live in New Zealand: loans are interest-free for New Zealand-based borrowers. Overseas-based borrowers are charged interest and have fixed repayment amounts instead of the 12% rule.
Sources (checked 17 Oct 2026): IRD Repaying my student loan when I earn salary or wages; IRD Repaying my student loan when I am self-employed or earn other income; IRD Interim student loan repayments; IRD Tax Technical Borrower's repayment obligations; SL 2023/295 annual repayment threshold.
General information, not tax advice. IRD works out your end-of-year and interim repayments and sends you the amounts. Use those. Overseas-based borrowers have different rules and aren't covered here.