What it costs

What fees do I pay?

You'll need to pay a $50 administration fee every time you apply for a student loan. The fee is added to your loan as soon as you use it.

What interest do I pay?

If you live in New Zealand, student loans are interest free. Interest charges will still appear on your statement, but will be written off at the end of each year. However, if you live overseas for more than 184 or more consecutive days (around 6 months) you may be charged interest on your loan.

Any interest is charged on all the money you borrow from the first day you use your loan. The interest rate is reviewed each year. The current interest rate is 6.7% per year.

For more information visit www.ird.govt.nz/studentloans.