Calculators > Student loan calculator

Student loan calculator

From March 2012, this calculator will no longer be offered. If you wish to save your current data, download it to PDF. Find out more.

Student loan calculator

Loan amount

What is the amount of your current loan?
$
How much more do you intend to borrow? Work it out
$

Your situation

When you finish study you will

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
    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. 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 $169.51 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 Careers New Zealand 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 Careers New Zealand website
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  7. Repayment holiday. If you're based overseas for 6 months (184 days) or more, you can take a break from your student loan repayments for up to 3 years. It's called a repayment holiday and it means you won't have to make any payments while you're away. Learn more about repayment holidays by visiting the IRD website.