University Cost Calculator NZ
This calculator works out the full cost of a university degree in New Zealand and the student loan you are likely to build up along the way, so students and parents can plan ahead before committing to years of study. You enter the years of study, the annual tuition fees, your weekly living costs, any weekly student allowance you receive, and any weekly income from part-time work. The calculator multiplies fees by the years of study, spreads living costs over roughly 40 study weeks a year, and subtracts your allowance and part-time earnings to find the living-cost shortfall you still need to cover. It then returns four figures: the estimated total cost of the degree, the tuition fees, the living-cost shortfall, and the likely student loan, which is the fees plus that shortfall. Use it to compare degree lengths, test how extra part-time hours or a bigger allowance reduce the loan you will carry, or see the difference living at home versus flatting makes to your weekly living costs. Because a student allowance does not need to be repaid while borrowed fees and living costs generally do, the results show you clearly how much of the total falls on your future income. Fees, allowances and living costs change over time, so treat these figures as a planning estimate rather than an exact quote, and check current rates before making decisions.
Assumes about 40 study weeks a year for living costs. A student allowance, where eligible, does not have to be repaid, while fees and the living-cost shortfall are commonly borrowed and repaid later. Fees and support change, so check current figures. Estimate only.
How it works
The calculator adds the tuition fees across the years of study, and the living costs across about 40 study weeks a year, then subtracts any allowance and part-time income to find the living-cost shortfall you need to cover. The total cost is fees plus living costs. The likely student loan is the fees plus the shortfall, which is the amount typically borrowed and repaid once you are earning above the repayment threshold.
Worked example
A 3-year degree at $7,500 a year is $22,500 of fees. Living at $350 a week over 40 weeks is $14,000 a year, less $150 a week of part-time work, a shortfall of about $8,000 a year. Over three years the likely loan is roughly $46,500, which is repaid from income after study.
Related calculators
- Student Loan Repayment Calculator: repaying the loan.
- Tertiary Study Budget Calculator: a student budget.
- Student Loan Payoff Booster Calculator: clear it faster.
- Savings Goal Calculator: save toward study.