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You may find yourself in a difficult situation while repaying your loan. Contact us if you find yourself in hardship or if you are going to miss a payment. We can try to make things easier.

We will let you know about options that may help you. We might be able to reduce your repayment obligations, or you can propose an instalment arrangement to suit your situation.

We’ll ask you about your financial situation. We might ask you for details of your income and expenditure.

Missing payments

If you miss a payment on your student loan, you may get late payment interest. You'll need to know this rate and the reduced late payment rate we charge under instalment arrangements.

Student loan interest and fees

Options to reduce your repayments if you're New Zealand-based

The option for a reduced deduction rate in myIR lets you apply to reduce the loan payments deducted from your salary or wages.

You can apply if you are in 1 or more of the following situations.

  • You are studying full time and earning under the annual repayment threshold.
  • You have more than 1 employer and your main income is under the annual threshold.
  • Your salary and wage deductions are putting you into hardship.

From your student loan account in myIR, in the 'I want to' section, select 'Apply for a reduced deduction rate'.

Log in to myIR


For amounts you owe, you can request an instalment arrangement or apply for financial relief if you have either:

  • non salary and wage loan repayments
  • other payments due to us that you cannot afford.

Apply for an instalment arrangement

Apply for financial relief - individuals in New Zealand

Options to reduce your repayments if you're overseas-based

If you cannot afford your loan payments, you can request an instalment arrangement or apply for financial relief. These can help you manage the amounts you owe.

Apply for an instalment arrangement

Apply for financial relief - overseas-based or non-resident individuals

Going overseas or recently left New Zealand

Temporary repayment suspension for student loans

Other ways to apply for hardship 

Send a Student loan overseas based customer repayment application - IR219

Student loans - contact us

Late payments and borrowing more

You will not be able to take out a new student loan if:

  • your overdue student loan amount is more than $500
  • any part of that debt is 12 months or older.

You will need to pay off the outstanding amount before you can borrow more.

You can check in myIR whether you have any late payments.

Make a payment

Log in to myIR