Student loan repayments
With an SL tax code, repayments are a flat rate on every dollar you earn above the threshold — not on your whole income.
Last updated 2026-04-01 · Official source: IRD — repaying my student loan
Current settings
| Setting | Value |
|---|---|
| Repayment rate | 12% |
| Annual repayment threshold | $24,128 |
| Weekly equivalent | $464.00 per week |
| Interest for NZ-based borrowers | 0% |
| Effective from | 2026-04-01 |
Example: on $60,000 a year, repayments are 12% of $35,872 — $4,304.64 a year — not 12% of the whole salary.
Last updated · 24 July 2026
Confirm figures against the official source before acting. Methodology · Corrections.