When you've got a student loan

You've got a job and a student loan - but when do you have start paying back the loan?

You start repaying your student loan when your pay (before tax is deducted) goes over the pay period repayment threshold. The amount deducted from your pay is 10 cents for every dollar you earn over the pay period repayment threshold.

You'll still follow the basic procedures for a first job, but when you choose your tax code you'll see that there is a repayment code for people with student loans. This means that your employer knows when to start deducting student loan repayments as well as income tax.

If you want to work out how much your repayments will be, you can calculate it yourself on the PAYE/KiwiSaver calculator.

Keep your details updated

You’ll need to make sure we have your correct name and contact details at all times.  You’ll also need to let us know if you're going overseas for 6 months or more, and the date you leave and return.   

You can keep your details updated through your IRD online services account.  Online services are available 24 hours a day, seven days a week. 

Login to our online services
Register for online services

How will this affect you?

Check out Real lives to see:

• Krystal's story - she's a first-year university student, and needs a tax code for her second part-time job.
• Andy's story - he's a university graduate with a full-time job and a student loan to pay off.