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So how did you pay off your student loan? More information

 

Audio and visual transcript

Visual

The video’s title, So how did you pay off your NZ student loan?, is displayed.

Three young people then share their student loan tips from the Sydney waterfront.

The video ends with the following information displayed:

  • See how you can pay off your student loan sooner.
  • Visit ird.govt.nz/obbsl-free

Audio

Ambient sounds of a harbour and walkway are heard in the background, seagulls, boats, music, people.

Narrator - Person 1

Yeah I used myIR quite a bit actually, certainly the last few years I was in London, and then um… it it sorta helped me to actually plan out when I could pay it off by.

Narrator - Person 2

So living in Australia and being away from New Zealand you feel like your loan’s just sitting there you don’t need to worry about it, but it’s better to, pay it off and, get it done and dusted.

Narrator - Person 3

Amazing it’s paid off I mean it felt good, and then it was sort’ve like a conscious lifter I think.

Narrator - Person 1

Once I got overseas I was a little bit more disciplined about it, and I think it was, maybe every quarter or 6 months, something like that, um… I was making some fairly, fairly significant payments.

Narrator - Person 2

Could see it going down slowly and, yeah it was quite a good feeling, when, it was back to 0 [relieved laugh].

Narrator - Person 1

There’s like a, there was a calculator I think, which um… was really helpful for telling me exactly what I needed to pay and when I needed to pay it.

Um… so that was really helpful living in London having to deal with something with a, a 12-hour time difference.

Narrator - Person 3

Was sort’ve a, gateway to be like, okay I’ve paid off my loan I don’t feel so bad about blowing 5 grand on a big overseas trip.

Narrator - Person 1

I’ve heard there’s like fee-free options now for international transfers, so that’s something I would look at if I was, I was still paying it off.

Narrator - Person 2

Once you leave New Zealand pay it back as soon as you can, because you’ve um… started accruing interest and then, that interest accrues more interest.

Narrator - Person 1

Thought about how much I could, could um… pay sort’ve realistically without totally affecting my lifestyle.

Yeah I wanted to get rid of it um… by the time I was 30, and I paid it when I was 29, so it was a good way to come into my thirtieth birthday.