Student Loan Overseas Interest Calculator

This calculator projects how a New Zealand student loan grows or shrinks once you are classed as an overseas based borrower, since interest is then charged on the loan, unlike most New Zealand based borrowers who pay none. You enter your current loan balance, the annual interest rate charged to overseas borrowers, and the annual repayment you expect to make, whether that is the fixed obligation Inland Revenue sets for your loan size or a higher voluntary amount. The calculator runs the numbers forward year by year, adding interest and subtracting your repayment, and returns a headline showing either how many years it takes to clear the loan or, if your repayment does not cover the interest, the balance still owing after 40 years. You also get the total interest charged, the total amount repaid, and a year-by-year table showing the opening balance, interest added, repayment made, and closing balance. Use it to test how lifting your repayment shortens the payoff and cuts total interest, or to see how a repayment that barely covers the interest can leave the balance stuck or growing. Interest rates and repayment obligations for overseas based borrowers are set by Inland Revenue and change over time, so check the current figures; this is an indicative projection only, not financial advice.

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The interest rate for overseas based borrowers and the standard repayment obligations are set by Inland Revenue and change over time, so enter the current figures. Estimate only and general information, not financial advice. Different rules and a possible repayment holiday may apply, so check the current rules.