Calculators > Students > Student loan calculator

Student loan calculator

See how long it will take to pay off your student loan. Results are based on how much you're going to borrow and what you expect to earn when you graduate.

 

Student loan calculator

 

Work out the size of your student loan

How much have you borrowed already? Check your last statement.
$
How much more will you need to borrow?
Enter "0" in any boxes where you'll be studying but not borrowing.

Year

Course Fees

Course Costs

Living Costs

2010

$
$
$

2011

$
$
$

2012

$
$
$

2013

$
$
$

2014

$
$
$

2015

$
$
$

What will you earn in the future?

How much per year will you earn when you graduate?
$
How much per year will you be earning five years later?
$
The year you were born
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Prior to changing your personal finances as a result of this calculation we recommend you view our disclaimer.
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Notes on this calculator
  1. To check your student loan balance with Inland Revenue:
    You can check your loan balance and keep track of repayments by signing up for Online Services at www.ird.govt.nz.

    To check your balance for the current year
    Call StudyLink on 0800 889 900

    You will need to have your IRD number.
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  2. Fees for domestic students at NZ tertiary institutions for 2010
    Compulsory fees – you can borrow the entire amount of your course fees (including Student Association fees) for study at a university or tech.

    Area of study Years to complete Cost per year*
    University Degrees
    Architecture (Auckland University) 5 years $4,922-$6,005
    Arts (Canterbury University) 3 years $4,479
    Business Studies (undergraduate - Massey University) 3 years $4,384
    Commerce (Auckland University) 3 years $4,849
    Dentistry (Otago University) 5 years $11,546
    Design (Massey University) 4 years $4,978.00
    Fine Arts (Auckland University) 4 years $5,194
    Engineering (Auckland University) 4 years $6,005
    Law (Canterbury University) 4 years $4,693
    Medicine (Otago University) 6 years $11,546
    Music (Auckland University) 4 years $4,501-$5,194
    Nursing (post-graduate - Victoria University) 1 year $6,528
    Optometry (Auckland University) 4 years $6,569
    Physiotherapy (Otago University) 4 years $5194-$6061
    Pharmacy (Auckland University) 4 years $5,843
    Teaching (Primary & Secondary - Auckland University) 3 years $4,501
    Veterinary Science (Massey University) 5 years $9,054
         
    Other Training Organisations
    Bachelor in Hospitality Management (Weltec) 3 years $4,957
    National Certificate in Exercise Science (Weltec) 1 year $5,036
    Certificate in Business Administration (Weltec) 19 weeks $2,434
    National Certificate in Hairdressing (Weltec) 1 year $5,845
    National Diploma in Mechanical Engineering (Weltec) 2 years TBA
    Diploma in Early Childhood Education (NZ College of Early Childhood Education) 3 years $4,250
    Diploma of Therapeutic Massage (Wellpark College of Natural Therapies) 18 Months $4,585
    Diploma in Fashion Design (Design & Arts College of NZ) 2 Years $5,350
    Diploma in Contemporary Photography (Design & Arts College of NZ) 2 years $5,360


    * Figures are indicative only and vary between different training organisations, and are reviewed on a yearly basis. Always check the course is one approved by the Ministry of Education for student loan purposes before you enrol.
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  3. Course-related costs
    You can borrow up to $1,000 a year for things like stationery, textbooks, childcare, travel or computer equipment.
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  4. Student loan – living costs
    You can borrow up to $160 a week for living expenses for the weeks you're studying (37 weeks is the average academic year). This is direct credited to your account each week.

    Your Student Loan course fees or course-related costs have not been included as categories. This is because you are looking at your day-to-day spending as a way to balance your student budget. You don't pay your weekly bills with money you borrow for tuition fees or text-books.
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  5. Your future earnings – loan
    1. Annual starting income
    Source: Median personal income by qualification - 20-24 years 2006 Census, Statistics New Zealand.

    Doctorate degree $27,501
    Masters degree $24,091
    Post graduate and Honours degree $27,468
    Bachelor degree and Level 7 qualifications $26,649
    Level 6 diploma $25,659

    2.Get more salary information at the Career Services website
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  6. Your future earnings in five years
    1. Average income
    Source: Median personal income by qualification - 25-29 years 2006 Census, Statistics New Zealand.

    Doctorate degree $50,401
    Masters degree $40,209
    Post graduate and Honours degree $43,672
    Bachelor degree and Level 7 qualifications $40,464
    Level 6 diploma $35,324

    2. Get more salary information at the Career Services website
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