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Student loans Dates

  • MAR 31
    Student loan payments are due if you're based overseas and do not have a repayment holiday.
  • APR 7
    If you have a student loan end of year bill due today, you'll have received a letter or text message from us.
  • MAY 7
    Student loan interim payments are due. They count towards your end of year repayment obligation.

People sometimes pay more than they need to on their student loan. This can happen if too much is deducted from your salary or wages, or if you have a deduction exemption but your employer accidentally makes deductions anyway. When this happens we call it a significant over-deduction. The threshold for significant over-deductions is $60 a month.

Use our PAYE/KiwiSaver deductions calculator to check if you’ve had the right amount deducted from your income.

PAYE/KiwiSaver calculator

You can pay too much in repayments if either:

  • your employer did not deduct the right amount
  • you did not use the right tax code for your job. 

We will not be able to refund any overpayment caused by you using the wrong tax code. If your employer deducts the right amount according to your tax code, it's considered a 'full and final deduction' even if it's too high for your overall income.

If your deductions are more than they should be, talk to your employer. Check you are using the right tax code. If you need to change your tax code, give your employer a new Tax code declaration - IR330. Make sure you include the 'SL'.

Work out my tax code

Contact us and we will check:

  • the amount you overpaid is significant
  • you have no overdue amounts owing (arrears).

You will then have 6 months to ask us to either:

  • give you a refund
  • leave it on your loan account
  • pay another student loan obligation.