Student Loan calculator
Use this calculator from the Sorted website to see how long it will take to pay off your Student Loan. Results are based on how much you're going to borrow and what you expect to earn when you graduate.
When you click "continue" the calculator will take you to the Sorted website to complete your loan calculation.
These flash calcs require Java script and the latest version of Flash Player installed and enable to function correctly. You can download Flash Player here.
Your existing student loan debt
To find out call:
0800 377 778 - IRD Student Loans
or
0800 889 900 - for the current balance for the year.
You will need to have your IRD number.
Fees at New Zealand tertiary institutions for 2010 (There are different rates for international students.)
Compulsory fees - you can borrow the total amount of fees for your course (including Student Association fees) that are charged by your education provider for study at a university or tech.
| Area of study | Years to complete |
Cost per year* |
|---|---|---|
| University Degrees | ||
| Architecture (Auckland University) | 5 years | $4922-$6,005 |
| Arts (Canterbury University) | 3 years | $4,479 |
| Business Studies (undergraduate - Massey University) | 3 years | $4,384 |
| Commerce (Auckland University) | 3 years | $4,849 |
| Dentistry (Otago University) | 5 years | $11,546 |
| Design (Massey University) | 4 years | $4,978 |
| Fine Arts (Auckland University) | 4 years | $5,194 |
| Engineering (Auckland University) | 4 years | $6,005 |
| Law (Canterbury University) | 4 years | $4,693 |
| Medicine (Otago University) | 6 years | $11,546 |
| Music (Auckland University | 4 years | $4,501-$5,194 |
| Nursing (post graduate - Victoria University) | 1 year | $6,528 |
| Optometry (Auckland University) | 4 years | $6,569 |
| Physiotherapy (Otago University) | 4 years | $5,194-$6,061 |
| Pharmacy (Auckland University) | 4 years | $5,843 |
| Teaching (Primary & Secondary - Auckland University) | 3 years | $4,501 |
| Veterinary Science (Massey University) | 5 years | $9,054 |
| Other Training Organisations | ||
| Bachelor in Hospitality Management (Weltech) | 3 years | $4,957 |
| National Certificate in Exercise Science (Weltech) | 1 year | $5,036 |
| Certificate in Business Administration (Weltech) | 19 weeks | $2,434 |
| National Certificate in Hairdressing (Weltech) | 1 year | $5,845 |
| National Diploma in Mechanical Engineering (Weltech) (2009 Figure) | 2 years | $4,934 |
| Diploma in Early Childhood Education (NZ College of Early Childhood Education) | 3 years | $4,250 |
| Diploma of Therapeutic Massage (Wellpark College of Natural Therapies) | 18 Months | $4,585 |
| Diploma in Fashion Design (Design & Arts College of NZ) | 2 Years | $5,350 |
| Diploma in Contemporary Photography (Design & Arts College of NZ) | 2 years | $5,360 |
Figures are indicative only and vary between different training organisations, and are reviewed on a yearly basis. Always check the course is one approved by the Ministry of Education for Student Loan purposes before you enrol.
Student Loan- Course-related costs
You can borrow up to $1,000 per Student Loan account (usually a 52 week period) for course-related costs for things like stationery, textbooks, travel or computer equipment.
Student Loan - living costs
You can borrow up to $163.38 a week for living costs for the
weeks while you're studying, or on a study break of three weeks or less (less any amount you get from Student Allowance). (The average academic year is 37 weeks.) This is direct credited to your account each week. Remember you have to pay this back so only borrow what you need.
Your Student Loan course fees or course-related costs have not been included as categories. This is because you are looking at your day-to-day spending as a way to balance your student budget. You don't pay your weekly bills with money you borrow for tuition fees or text-books.
