Student Loan Repayment Calculator
You repay 12% of every dollar you earn above $24,128 a year. See what comes out of each pay, and roughly how long your balance will take to clear.
Your details
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Adding your balance shows a rough time to clear it at your current income.
How it works
You repay 12% of every dollar you earn above $24,128 a year. Nothing is deducted on income below that threshold. Repayments come out through PAYE automatically when you use a tax code ending in "SL".
Loan repayment
$5,504.64
7.9% of gross
Income above threshold
$45,872.00
Over $24,128
Income not liable
$24,128.00
Below the threshold
Repayments by pay period
| Amount | Weekly | Fortnightly | Monthly | Annual |
|---|---|---|---|---|
| Gross income | $1,346.15 | $2,692.31 | $5,833.33 | $70,000.00 |
| Loan repayment | $105.86 | $211.72 | $458.72 | $5,504.64 |
| Income after repayment | $1,240.30 | $2,480.59 | $5,374.61 | $64,495.36 |
Shows the student loan deduction only. It does not include PAYE, ACC or KiwiSaver. For a full picture use the PAYE calculator.