Sorted.org.nz has revamped its Student loan calculator to reflect changes in the student loan repayment system, which is run by Inland Revenue.
David Kneebone from sorted.org.nz says all students should experiment with the Student loan calculator to test the long-term implications of extending a student loan.
“I was naive and easily sucked in. It seemed like everyone had a credit card so I thought it was a pretty normal thing to do,” said Raeanna.
After going on sorted.org.nz, Raeanna’s focus is now on paying off her credit card debts as quickly as possible to minimise the amount of interest.
“Some people pay off their card each month and avoid paying interest at all, but if like me, you don’t pay it all off monthly, the accumulating debt can become overwhelming.