Student Loans New Zealand

New Zealand’s student loan scheme is administered by StudyLink and repaid through IRD. Unlike most countries, student loans in New Zealand are interest-free while you live in New Zealand — one of the most generous schemes in the world.

Student loan quick facts (NZ 2026)

• Interest-free while living in New Zealand
• 3.5% annual interest if you live overseas
• Repayment: 12 cents per $1 earned over the threshold (~$22,828/year in 2026)
• Administered by StudyLink; repaid through IRD
• Average NZ student debt: $20,000–$30,000
• Student loan ≠ student allowance (allowance is a separate grant)

Student Loan Guides in This Section

Understanding the Scheme

NZ Student Loan Guide — complete overview for first-time borrowers
Student Loan Interest Rates NZ — when interest applies and how to avoid it
Student Loan Repayment NZ — how repayments work through IRD

Managing Your Loan

Paying Off Your Student Loan NZ — strategies to repay faster
Student Loan While Overseas NZ — your obligations if you leave New Zealand

Financial Support While Studying

StudyLink Living Costs NZ — the living costs loan component
Student Allowance NZ — the means-tested grant for eligible students

How the NZ Student Loan Scheme Works

The New Zealand student loan is split into components:

Course fees: StudyLink can pay your course fees directly to the tertiary provider
Course-related costs: A lump sum (around $1,000/year) for books, equipment, and study materials
Living costs: A weekly amount borrowed to cover living expenses while studying

All three components form part of the same student loan balance and are repaid together through the same IRD mechanism.

This Section Is Part of the Loans Hub

This student loans section sits within the Loans hub. For comparison with other borrowing options, see Personal Loans NZ or Credit Cards NZ.