While the borrower is a resident of New Zealand, loans are repaid at a rate of 12 cents for every whole dollar of taxable income earned over the repayment threshold of $19,084 per annum ($367 per week), and no interest is charged.
Student loans are written off in the event of the borrower dying; their estate is only obliged to pay any outstanding loan repayments up to the date of the borrower's death.