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When your loan balance is less than $1,000, we will let you know that you are getting close to repaying your loan.

If you earn salary or wages and have  only 1 employer, we will notify your employer when your loan will be paid off in the next 3 pay periods. We'll ask your employer to adjust the last loan payment to clear your loan balance, and then stop student loan deductions.

Once the loan is paid off we will confirm to you and all your employers that student loan deductions are no longer required.

If you're overseas and you pay within 30 days of getting your student loan statement, we will cancel any interest charged in those 30 days, so you can be confident that you’ve paid your loan balance in full.

If you return to New Zealand and pay off your loan before your loan becomes interest free, you may be entitled to an interest refund from the date you arrived. Once you've been back in New Zealand for around 6 months (183 days), please send us a secure mail to request this refund.

Regardless of your circumstances, any overpayments of your loan will be either repaid to you or the overpayment settings you’ve set in your myIR account applied. If you're close to paying off your loan, make sure your bank account details are up to date in myIR.

Work out when you will pay your student loan off

You will need to know your student loan balance to work out when you will pay it off. If you live in New Zealand you will also need to know your gross yearly income, or an estimate of it.

See my student loan balance

Use our online student loan repayment calculator to see how long it will take to pay off your loan.

It may be helpful to see how much faster you can pay off your loan if your income changes, or if you make additional payments. Additional payments are in the ‘Pay it faster’ option in the calculator.

Paying off my student loan faster

5 mins
Student loan repayment calculator

This calculator estimates your loan repayment obligation, how long it will take and how quick with extra repayments.

Go to this tool