Student Finance

Student Finance in New Zealand

Getting access to quality education is great, but not everyone can afford it. Fortunately, the availability of school finance in New Zealand allows everyone to access it.

Student finance is a type of loan given to students in universities or tertiary colleges; to enable them to pay for tuition, book supplies, and cover the costs of living. After completing the study and securing a job earning a certain income threshold, they repay the money. Student loans are long-term and attract low-interest rates or, sometimes, for students based in New Zealand, zero interest.

Student Finance in NZ


To qualify for student finance in New Zealand, you should either be an NZ citizen or NZ resident who has been living in New Zealand for at least three years.

Student Loan Application Process

Application Process

The application is usually online, done once annually; meaning, if you are studying for more than a year, you should apply each year of your study.

Depending on your circumstances, the following are the options you can apply for;

  • Compulsory course fees,
  • living costs (covers food, rent, etc. currently the maximum payment for this is about $239.76 per week) on, or
  • Course-related costs (such as study trips, buying a computer, and books).

You will need to submit verified copies of your documents, not the originals. These documents include; Birth certificate, valid passport, Letter from NZ immigration service for those granted residency, IRD number, and bank account number.

enrolment details

Before the loan is approved, the loan-provider confirms your enrolment details with your education provider; you must have finished your enrollment process before submitting your application; otherwise, your student finance will not get approval.

Student Finance Contract

You will then receive a student loan contract, entailing the loan information (repayments and interest; the rate is currently at 3.5%p.a), the terms and conditions for the same, and a page to sign. It will be a legally binding document; agreeing to sign it means you are responsible for repaying the loan. After accepting and signing, you will then upload the contract into the system.

It is crucial to address the applicants who are below the age of 18 years. The parent or guardian should sign the contract on their behalf; signing does not mean they are responsible for repayment, only that they are allowing you to get it.

Upon approval, the loan provider will send the student notification in writing entailing the loan amount and the expected date of disbursement. The disbursement of funds is usually done once per semester and wired directly to the school.

Kiwi Finance Terms of use

Advantages of

Student Finance

Q Card Insurance

Chance for Everyone

It gives everyone a chance to access quality education, regardless of your financial background.

Financial Burden

Student finance relieves parents or guardians of the financial burden.

Interest Free

You are entitled to interest-free school finance if based in New Zealand: interests on student loans are usually low compared to other loan facilities, but having to pay not to pay any interest fees is a plus.

Credit Score

Student loan does not affect your credit score: the repayments are automatic deductions from your earnings when employed. • Unlike other loans, if the borrower fails to repay their student loan, no debt collectors will come knocking on your door.

No Penalties

If you have some savings or inheritance and wish to clear or offset the student loan, there are no penalties for doing so.

Disadvantages of

Student Finance

Disadvantages of Student Finance

Part Time Students

Part-time students have no access to student finance covering living expenses or course-related costs, only the one covering the tuition fees. For someone who is a part-time student due to illness or disability, their study can be listed as full-time to help them access financial support.

New Zealand Based

Only New Zealand-based can access the interest-free student loan: also, if you relocate abroad while in the study, your loan will start attracting some interest.

Home Finance

The student loan can affect your home finance, as the charge of 12% pre-tax income changes the amount you can afford for the mortgage repayments.

Student Finance

Education requires hefty resources, especially financially. School finance comes in handy, especially for the students who cannot afford the expensive education costs. It is wise to keep your living expenses in check; this way, you will manage to save thousands of dollars by the end of your study; meaning, less repayment burden. Education is a long-term investment, and the beautiful thing about it is, no one can take it away from you once you have earned it. Keep learning; it pays off eventually.

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