Student loan repayment calculator
If you live in New Zealand, your repayments depend on what you earn above the threshold, not on how much you owe. Enter your salary to see them.
| Salary | $60,000 |
| Repayment threshold | $24,128 |
| 12% of $35,872 | $4,304.64 |
| Per week | $82.78 |
| Per fortnight | $165.56 |
| Per month | $358.72 |
| Years to repay (no interest) | 7.0 |
Repayment thresholds for 2026–27
| Pay period | Threshold | Rate |
|---|---|---|
| Weekly | $464.00 | 12% |
| Fortnightly | $928.00 | 12% |
| Four-weekly | $1,856.00 | 12% |
| Monthly | $2,010.66 | 12% |
| Yearly | $24,128 | 12% |
The threshold is the same as last year. Your employer deducts 12% of anything you earn above it in each pay, when your tax code includes SL.
Repayments at common salaries
| Salary | Per year | Per fortnight | Years to clear $30,000 |
|---|---|---|---|
| $30,000 | $705 | $27.10 | 42.6 |
| $40,000 | $1,905 | $73.26 | 15.8 |
| $50,000 | $3,105 | $119.41 | 9.7 |
| $60,000 | $4,305 | $165.56 | 7.0 |
| $80,000 | $6,705 | $257.87 | 4.5 |
| $100,000 | $9,105 | $350.18 | 3.3 |
How repayments work
- Take your pay for the period.
- Subtract the threshold for that period, for example $928.00 a fortnight.
- Multiply what is left by 12%. That is your repayment, cut to whole cents.
Because it works per pay, a fortnight with overtime can trigger a repayment even if your yearly income is under the threshold. You can apply for a refund at the end of the year if that happens. If you have a second job, your employer there deducts 12% of all your pay unless you have a special deduction rate.
Loans are interest-free while you live in New Zealand, so every dollar repaid reduces your balance. If you move overseas for more than six months, interest is charged and the repayment rules change.
Common questions
How much will I repay on $50,000?
$3,105 a year, or $119.41 a fortnight: 12% of the $25,872 you earn above $24,128.
Does the amount I owe change my repayments?
No. While you live in New Zealand, repayments depend only on your income. A bigger balance just takes longer to clear.
What if I earn under the threshold?
You repay nothing from salary or wages. If your income is under $24,128 for the full year, you can apply for a repayment deduction exemption.
Can I pay it off faster?
Yes. You can make voluntary repayments at any time through myIR, and they reduce your balance straight away.
Sources
Checked 28 September 2026. OneCalcs is independent and not affiliated with Inland Revenue, Employment New Zealand, ACC or any government agency.