General information only. Confirm with the agency for your situation. Spotted something out of date? Email help@unemployed.nz.
Student loan repayments when out of work
Work out your repayment deduction, and see the options if you lose your job or earn less: reduced rates, instalments and what happens on a benefit.
Your SL tax code takes 12% of pay over the weekly threshold. A second job takes 12% of every dollar.
1 April to 31 March. For the year-end estimate.
Enter your weekly pay to see the deduction.
If you are out of work or on a low income
- Ask for a reduced deduction rate in myIR if your pay deductions cause hardship, or your main job is under the threshold and you have a second one.
- Ask IRD about an instalment arrangement if you owe repayments you cannot pay. Missed payments attract late-payment interest.
- Leaving New Zealand? A temporary repayment suspension (up to 12 months) covers overseas repayments only, and interest still accrues. Tell IRD before you go or within 6 months of leaving.
No “repayment holiday” in New Zealand
We found no IRD pause for borrowers who stay in New Zealand and have lost work. Call IRD on 0800 227 773.
Threshold and rate for 1 April 2026 to 31 March 2027. Whether benefit income counts toward a year-end assessment was not confirmed, so the year-end figure uses wages only. NZ-based borrowers pay no interest; overseas-based borrowers do.
Sources: Repaying from wages, Difficulty repaying, Temporary repayment suspension