Tracking your loan

Register for Inland Revenue’s online services to see your balance and repayments.

Check your student loan balance online

Get an estimate of when you’ll pay off your loan and see how extra repayments might help you pay it off faster.

Student loan repayment calculator

Making payments

You must make repayments if you’re in NZ and earning over a certain amount, or if you’re overseas and are not on a temporary repayment suspension.

If you’re in NZ once you earn over $20,020 a year, you’re required to start paying off your loan — even if you’re still studying.

You’ll need to include SL on your tax code so your repayments will come out of your pay automatically. Automatic repayments are 12% of everything you make over $20,020.

Paying off your student loan if you’re employed

Paying off your student loan if you’re self-employed

Find out about making extra repayments, paying your loan off in full and what you can do if you’ve overpaid.

Making extra repayments to your student loan

If you have two jobs and your main job is under the repayment threshold, you can apply for a special repayment rate.

Special repayment rates for other income

Find out your options if you’re having problems making repayments and what happens if you do not make compulsory repayments.

If you cannot repay your student loan

Travelling or living overseas

You’ll be charged interest on your student loan if you go overseas for more than 6 months.

Going overseas for 6 months or more

You can make a payment from overseas through your myIR account by:

• direct debit
• credit or debit card

Other ways to pay include, international money transfer.

Paying from overseas

You can apply for a repayment holiday if you’re going overseas for more than 6 months which means you will not have to make payments for up to a year. If you’re not on a repayment holiday, you’ll need to make at least 2 payments a year on your student loan. You can apply for a repayment holiday through myIR, IR’s online services.

myIR Secure Online Services