Student loan repayment calculator
An annual repayment estimate for main employment, shown as a fortnightly average.
Source: Inland Revenue · 2026–27 rates · Checked Oct 2026 · Valid through 2027-03-31 (NZ time)Using New Zealand rules
It comes off the amount above the threshold
The 12% applies only to what you earn above the repayment threshold, not to your whole salary. That is why the share of gross pay in the table is always below 12%.
Deductions are taken per pay period against a per-period threshold. A large one-off payment in a single pay can therefore deduct more than an even spread of the same annual income.
deduction = (salary − threshold) × 12%
1The threshold applies to main employment income
2Secondary employment has no threshold: every dollar is liable
Common questions
Does this clear my loan faster if I pay extra?
Yes, voluntary repayments reduce the balance directly. This calculator shows the compulsory deduction only, not the time to clear the balance.
What if I go overseas?
Overseas-based borrowers repay fixed annual amounts based on the loan balance, not the 12% salary deduction shown here.
The rules behind this calculator
Written up, with the page each rule came from.
2 min read
What happens to your student loan when you leave
The repayment rules change completely the moment you become overseas-based, and the change is not in your favour.
2 min read
How student loan repayments work while you are in New Zealand
A threshold, a rate, and a tax code are the three things that decide what leaves your pay. Here is how they fit together.
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