How much student loan will I repay per month in NZ?

Student loan repayments are 12% of income above the repayment threshold (~$22,828/year). On a $60k salary: approximately $450/month. On $80k: approximately $690/month. On $100k: approximately $930/month.

Should I opt out of KiwiSaver as a student or new graduate?

No. Even contributing the minimum 3% gets you your employer's matching contribution — that's free money that compounds over time. Opting out to have more spending money now costs you significantly more in retirement savings than the short-term benefit is worth.

What is the student allowance amount in NZ in 2026?

The maximum student allowance is approximately $345/week (before tax) for eligible students. Eligibility depends on your parental income if you're under 24. Check StudyLink for current rates and eligibility criteria as these change annually.

Budgeting for students and graduates in New Zealand (2026)

Part 1: Budgeting as a current student

What your income might look like

NZ students typically have: part-time work (15–20hrs/week at $23.15–$25/hour), student allowance if eligible (~$345/week), and/or student loan living costs (~$300/week). Remember: loan living costs are debt, not income — every dollar borrowed is repaid at 12% of income above the threshold after graduation.

A realistic student budget in NZ

Rent (flatting, shared): $700–$1,000/month. Groceries: $250–$350. Transport (PT or bike): $50–$150. Phone: $25–$50. Utilities (shared): $50–$80. Social and dining: $100–$200. Total: $1,175–$1,830/month.

Key student principles

Flatting is essential — solo student accommodation in NZ cities can cost $1,200–$1,600/month
Borrow minimum on the loan — $40,000 debt on a $70k graduate salary means $420/month in repayments
Avoid BNPL — treat Afterpay, Zip, and Laybuy as debt, not convenience
Build the habit now — tracking spending as a student is far easier than starting from scratch later

Part 2: Budgeting as a new graduate

What changes when you graduate

Student loan repayments kick in: 12% of every dollar above the repayment threshold (~$22,828/year). On a $60k graduate salary, that's approximately $450/month — a significant deduction most graduates don't budget for.

KiwiSaver is now your responsibility. Don't opt out — the employer match is free retirement savings.

The lifestyle inflation risk

After surviving on student income, a full salary feels enormous. Many graduates upgrade accommodation, start buying lunch daily, and subscribe to everything. Within 3 months they're living paycheck to paycheck on three times their student income. The fix is to keep your student-level expenses for 6–12 months and bank the difference.

Graduate starting salaries in NZ (2026)

Engineering: $65,000–$80,000. Software/tech: $70,000–$90,000. Teaching: $52,000–$57,000. Nursing: $58,000–$65,000. Marketing/comms: $50,000–$65,000. Accounting: $55,000–$70,000. General graduate: $50,000–$60,000.

The one thing most new graduates don't do

Start an emergency fund immediately — before lifestyle inflation sets in. A $2,000 emergency fund is the difference between a car repair being a minor inconvenience and a financial crisis. On a graduate salary you can build this in 3–4 months if you're intentional about it.