New Zealand · Student loans

NZ student loan repayment calculator.

The repayment deducted from your salary or wages each pay, plus a yearly estimate, using the IRD threshold and 12% rate.

Thresholds checked against Inland Revenue on 16 October 2026. Planning estimate, not a payslip.

Your pay

Estimate

Enter your gross pay for one pay period.

Worked example

Paid $600 a week before tax in your main job: $600 − $464 threshold = $136, and 12% of $136 is $16.32 a week. In a secondary job there is no threshold, so $200 a week repays 12% = $24. Both match the examples on the Inland Revenue page.

How it works

Main job (M SL or ME SL): 12% of every dollar over the pay-period threshold. Secondary job: 12% of every dollar, because the threshold is used up by your main job.
Pay-period thresholds: $464 weekly, $928 fortnightly, $1,856 every 4 weeks, $2,010.66 monthly, all from the annual threshold of $24,128.
IRD's payroll rules truncate pay to whole dollars and the deduction to whole cents, and this page does the same.
The yearly figure multiplies your pay by the number of pays and applies 12% over $24,128 (main job). Your real end-of-year repayment depends on all your income for the year.
Special deduction rates, repayment deduction exemptions, extra voluntary repayments and overseas borrower rules are not modelled.

Sources, checked 16 October 2026: Inland Revenue: repaying my student loan when I earn salary or wages (12%, thresholds and examples) and the IRD payroll calculations and business rules specification, 1 April 2026 to 31 March 2027 (rounding rules). Estimate only, not tax or legal advice.

FAQ

How much student loan do I repay from my pay in New Zealand?

On your main job you repay 12% of every dollar you earn over the pay-period threshold, for example $464 a week. On a secondary job you repay 12% of every dollar.

What is the NZ student loan repayment threshold?

Inland Revenue gives an annual repayment threshold of $24,128, which is $464 weekly, $928 fortnightly, $1,856 every 4 weeks or $2,010.66 monthly.

Can I pay less than 12%?

Sometimes. IRD can issue a special deduction rate, for example if your main job pays less than the threshold, and full-time students may get a repayment deduction exemption. Apply to Inland Revenue; this calculator uses the standard rate.