New Zealand Student Loan Tool
NZ Student Loan Calculator 2026/27
Calculate the student-loan deduction from your pay using the current New Zealand repayment threshold and standard 12% rate, with separate handling for main and secondary jobs.
Official sources checked: 3/3 · 17 Sept 2026, 10:56 am
Current NZ-based borrower rule12% over $24,128Annual threshold effective from 1 April 2026.
Student loan calculator
Calculate your repayment from each pay
Choose your pay frequency and enter gross pay. For a main job the calculator applies the matching threshold; secondary salary or wages normally use 12% of gross pay.
Current threshold for this pay frequency: $928.00. The annual threshold is $24,128.
Quick answer
NZ student loan repayment threshold 2026/27
Weekly
$464 repayment threshold.
Fortnightly
$928 repayment threshold.
Every 3 weeks
$1,392 repayment threshold.
Every 4 weeks
$1,856 repayment threshold.
Monthly
$2,010.66 repayment threshold.
Annual
$24,128 repayment threshold.
Worked example
Student loan deduction on $1,000 weekly pay
For a standard main job, $1,000 gross weekly pay minus the $464 weekly threshold leaves $536. Applying 12% gives an indicative student-loan deduction of $64.32 for that week.
Main vs second job
How student loan deductions work from salary and wages
Main job
With an SL main-income tax code, the applicable pay-period threshold is deducted from gross pay and the standard 12% rate applies to the remainder.
Secondary job
The threshold normally does not apply a second time. Standard student-loan deductions are generally 12% of the secondary gross salary or wages.
Special rates or exemptions
IRD can approve special deduction rates or repayment deduction exemptions in qualifying circumstances, so the standard calculation is not universal.
Pay it faster
Extra student loan repayments
You can make additional repayments. The payoff estimate in this tool assumes the same pay and extra repayment each period and does not predict salary changes, overseas-borrower interest, penalties or future IRD adjustments.
Official IRD sources
Check your student loan with Inland Revenue
IRD — Repaying my student loan when I earn salary or wagesOfficial Inland Revenue guidance ↗IRD — Employer guide: student loan repayment deductionsOfficial Inland Revenue guidance ↗IRD — When I pay off my student loanOfficial Inland Revenue guidance ↗
FAQs
NZ student loan calculator questions
What is the NZ student loan repayment threshold in 2026/27?
The current annual repayment threshold from 1 April 2026 is $24,128. Pay-period thresholds include $464 weekly, $928 fortnightly, $1,856 every four weeks and $2,010.66 monthly.
What is the New Zealand student loan repayment rate?
For a New Zealand-based borrower earning salary or wages, the standard repayment rate is 12 cents for each dollar above the applicable repayment threshold for main income.
How much student loan comes out of $1,000 weekly pay?
Using the standard weekly threshold of $464, the amount above the threshold is $536. At 12%, the indicative student-loan deduction is $64.32 for that pay period, before any special rate or adjustment.
How are student loan deductions calculated for a second job?
The normal threshold does not generally apply again to secondary salary or wages. Standard student-loan deductions are usually 12% of the secondary gross pay unless an IRD special deduction rate or exemption applies.
Can I make extra student loan repayments?
Yes. IRD allows additional repayments, and its official repayment calculator can show how extra payments may shorten the payoff time.
Is this the official IRD student loan calculator?
No. This Webfit News tool estimates common salary-and-wage deductions. Inland Revenue also provides an official calculator for repayment obligations, payoff time and extra repayments.