Student loan : Contents
Interest on Student Loans
Interest rate
The interest rate is reviewed annually and is generally adjusted on 1 April each year.
The base interest rate from 1 April 2026 is 5.6%.
Full interest write-off
A New Zealand based borrower may qualify for a full interest write-off.
To be considered a New Zealand based borrower the student will need to be physically in New Zealand for a period of 183 consecutive days (some exemptions apply).
Students with questions about the full interest write-off and exemptions should contact Inland Revenue. See:
- Inland Revenue Contact us
For more information see:
Reference - Charging interest
Since 1 April 2012 the administration and charging of any interest has been the responsibility of Inland Revenue.
Before 1 April 2012 MSD charged interest on Student Loans.
- refer to the relevant loan contract for the year in question
Legislation
- base interest rate (definition) section 4 Student Loan Scheme Act 2011
