Based on your needs, you can apply for up to four different Student loans in New Zealand Entitlements entitlements. You do this all at once when applying for a student loan. We have outlined each one in detail below, and our FAQ section below looks at the finer details.
1. Student Loan tuition fees
If you plan to enrol in an eligible course (university and polytechnic offerings are usually ‘approved courses’, but you can check to see if your course is indeed approved here), your student loan will cover 100% of the tuition fees, regardless of whether you study full-time or part-time.
2. Student Loan living costs
If you are studying full time, you can apply to receive a maximum of $302.32 per week during the duration of your study. You don’t have to borrow the full amount, and as living costs are part of your student loan, you’ll have to pay it back.
3. Student Loan course-related costs
You can get up to $1,000 every 52 weeks, no matter how many courses you’re studying during this time. The amount(s) you claim is added to your student loan balance just like the tuition fees and living expenses. More details are outlined here. You don’t have to get the full amount of $1,000. You also don’t need to claim it all at once.
4. Student Allowance
What allowance you are entitled depends on your background. Every family situation is different, and for anyone under 24, parental income is the key decider on the amount of student allowance you will receive, if any.
- This helpful calculator from the IRD estimates your entitlement for anyone under 24 using the basis of parental income.
- You can also see specific maximums based on a number of family situations.
- Remember, declaring information which is known to be false is a crime and can be prosecuted.
Important: The student allowance/student loan for living expenses is fixed; first-year students will find either of these options won’t cover halls of residence fees, so will need to have another source of income and/or savings to make up the difference.
