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If you are away from New Zealand for around 5 out of 6 months, how you make student loan repayments may change. Your repayments will be based on the size of your loan balance when you left New Zealand, and you will have 2 payments that need to be made by 30 September and 31 March each year. Interest will also be applied to your loan balance.

Easier to understand

Improvements to myIR let you easily check your loan balance, see a breakdown of your loan, view transactions and any due assessments.

When you log in to myIR simply click the student loan account tab to see all the details on the summary page.

Student loan statements have also been updated so it’s clear what your current balance is and how much you need to pay.

Understanding my student loan statement

New payment option in myIR

If you live in Australia, the United Kingdom, Europe, Canada or the United States, there is a new way to set up direct debit payments through your myIR account.

Go to myIR < Student loan account < 'make a payment' and follow the instructions.

Log in to myIR

Options if you’re having trouble paying

You can now apply for relief if you cannot afford your loan payments or request an instalment arrangement for amounts you owe.

Go to myIR < 'I want to…’ < and select 'application for relief' or 'Request an instalment arrangement'.

New repayment calculator

The new repayment calculator in myIR shows when you’ll pay off your loan based on current repayments. You can find this on the right-hand side of the student loan ‘Summary’ page < myIR < Student loan account < Repayment calculator.

New overpayment settings in myIR

You can easily choose what happens with any loan overpayments you make:

  • keep them on your loan
  • use them to pay off debt in another account
  • move them to your KiwiSaver
  • have them refunded to you.

You can find ‘Overpayment settings’ on the right hand side of the ‘Summary’ page myIR < Student loan account < Overpayment settings.

Log in to myIR

Travel details in myIR

The new ‘Travelling overseas’ section in myIR makes it easier to keep track of how long you're away from New Zealand and calculate when interest is charged.

Go to myIR < Student loan account < I want to.... Then scroll down to 'Travelling overseas'.

You can also check the dates you travel to or from New Zealand. This only shows the date you travelled into or out of the country and does not include information about where you travelled.

Overseas travel calculator

Also in myIR under 'Travelling overseas', the 'Overseas travel calculator' lets you enter the dates you expect to leave or return to New Zealand. This way, you can check if you'll be either overseas-based or New Zealand-based. If your status changes, your repayment obligations will change.

This is also where you can apply for a Temporary repayment suspension (formally called a Repayment holiday) or to keep your loan interest free while overseas if you meet certain criteria.

Log in to myIR

Nominated persons and alternative contacts

If you have set up a nominated person who can manage tax matters on your behalf, they can update your details through their own myIR account.

If you have set them up with access to all account types, they will be able to view and update any future accounts you may get.

Getting someone to act on my behalf

Get access to an account as a nominated person 

If you have set up an alternative contact person (ACP) for us to contact if we can't reach you, both you and your ACP are now able to view or cancel the ACP link through your myIR account. The ACP cannot view any details about your loan.

Renaming the repayment holiday

The repayment holiday has been renamed to the Temporary repayment suspension (TRS). If you have a TRS, interest will still be added to your student loan, but you do not need to make repayments for the first year of being overseas.

We will also notify you 30 days prior to the TRS ending and remind you what your repayment obligations will be if you stay overseas.