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

2008

$
$
$

2009

$
$
$

2010

$
$
$

2011

$
$
$

2012

$
$
$

2013

$
$
$

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.
Notes on this calculator
  1. Your existing student loan debt
    To find out call:
    0800 377 778 - IRD Student Loans
    or
    0800 889 900 - for the current balance for the year.

    You will need to have your IRD number.
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  2. Fees for domestic students at nz tertiary institutions for 2007
    Compulsory fees – you can borrow the entire amount of your course fees (including Student Association fees) for study at a university or tech. There's a limit of $6,500 a year for private training establishments.

    Area of study Years to
    complete    		 Cost per
    year*
    University Degrees
    Architecture (Auckland University) 5 years $4,051-$5324
    Arts (Canterbury University) 3 years $3,934
    Business Studies (undergraduate - Massey University) 3 years $3,787
    Commerce (Auckland University) 3 years $4,416
    Dentistry (Otago University) 5 years $10.780
    Design (Massey University) 4 years $4,300
    Fine Arts (Auckland University) 4 years $4,732
    Engineering (Auckland University) 4 years $5,324
    Law (Canterbury University) 4 years $4,164
    Medicine (Otago University) 6 years $10,780
    Music (Auckland University 4 years $4,360
    Nursing (post graduate - Victoria University)
    		1 years $5,388
    Optometry (Auckland University) 4 years $7,279
    Physiotherapy (Otago University) 4 years $4,849-$6,061
    Pharmacy (Auckland University) 4 years $4,388-$4,810
    Teaching (Primary & Secondary - Auckland University) 3 years $3,974
    Veterinary Science (Massey University) 5 years $7,821
         
    Other Training Organisations
    Bachelor in Hospitality Management (Weltech) 3 years $4,302
    National Certificate in Exercise Science (Weltech) 1 year $4,399
    Certificate in Business Administration (Weltech)
    		19 weeks $2,142
    National Certificate in Hairdressing (Weltech) 1 year $5,200
    National Diploma in Mechanical Engineering (Weltech) 2 years $4,485
    Diploma in Early Childhood Education (NZ College of Early Childhood Education) 3 years $4,090
    Diploma of Therapeutic Massage (Wellpark College of Natural Therapies) 18 Months $4,250
    Diploma in Fashion Design (Design & Arts College of NZ) 2 Years $5,385
    Diploma in Contemporary Photography (Design & Arts College of NZ) 2 years $5,380


    * 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 $150 a week for living expenses for the weeks you are studying (e.g 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
    [back]