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When you're based overseas, you'll need to make minimum repayments on your student loan or apply for a temporary repayment suspension. It's a good idea to know about getting someone to act on your behalf here in New Zealand. You'll also need to be aware of how to make payments from overseas.

Student loan minimum repayments

You need to make minimum repayments to avoid late payment interest or penalties. If you are travelling or living overseas with a student loan, your minimum repayments depend on your student loan balance when you left New Zealand. If you left New Zealand before 31 March 2014, then we'll use your student loan balance from 31 March 2014.

Keep in mind that if your loan grows because of interest or penalties, your minimum repayment amount will go up and cannot be brought back down in the future. We check every 31 March to see if your student loan has gotten bigger.

At the current interest rate, if your loan is over $142,860, your repayments will not be enough to cover your interest.

Loan balance Due date - 30 September Due date - 31 March
under $1,000 half your loan balance half your loan balance
$1,000 and up to $15,000 $500 $500
over $15,000 and up to $30,000 $1,000 $1,000
over $30,000 and up to $45,000 $1,500 $1,500
over $45,000 and up to $60,000 $2,000 $2,000
over $60,000 $2,500 $2,500

We send you an assessment notice each year that tells you the minimum payments you need to make. Your payments are generally due 30 September and 31 March. If one or both of these dates have passed by the time we notify you, we may adjust these dates.

Getting someone to act on your behalf

It is a good idea to set up a nominated person before you leave New Zealand. They will be able to talk to us about your loan while you are overseas.

Getting someone to act on my behalf

Temporary repayment suspension

With a temporary repayment suspension you can take a break from paying your student loan for up to 12 months while you travel overseas. Keep in mind that your student loan will still gain interest during this time, so if you can, it's a good idea to make additional payments.

Temporary repayment suspension for student loans

If you pay using an online international money transfer or payment service provider

If a service provider does not process your payment to us in time for the funds to clear by the due date, it will remain outstanding. We may charge penalties or interest. It is your responsibility to make sure you:

  • pay and file on time
  • make payments to us either on or before the New Zealand due date
  • check if the provider you choose charges international fees.

Paying from overseas

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