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Name of the Organization : New Zealand Ministry of Education
Type of Facility : Student Loan Scheme
Country : New Zealand

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Website :

Student Loan Scheme :

General information on the loan scheme with links to similar sites at StudyLink and Inland Revenue.

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The Student Loan Scheme was established in 1992 to assist students to overcome financial barriers to undertaking tertiary study.

Student Loan Scheme:
The Student Loan Scheme provides finance on a non-selective basis to students who might not otherwise have access to funds. Students can borrow money for the payment of tertiary fees, course related costs and to subsidise their living expenses. The money borrowed from the scheme must be repaid to the government once a student starts earning over a certain income threshold. More information on the Student Loan Scheme can also be found on StudyLink’s website.

Three agencies are involved with the scheme:
Ministry of Education:
The Ministry of Education is responsible for strategic policies in relation to the Student Loan Scheme. You will find links to the other agencies and to other sources of information on this site.

Ministry of Social Development:
StudyLink, a service of the Ministry of Social Development, is responsible for the administration and delivery of student loans to students during the year of study. After the end of each academic year the Ministry of Social Development transfers those loans to Inland Revenue for collection. You will find current borrowing information on the StudyLink website.

Inland Revenue:
Inland Revenue is responsible for maintaining the loan accounts after StudyLink transfers the loan information to them on a daily basis, including the assessment and collection of loan repayments. You will find information on interest rates, interest write-offs, other write-offs, repayments, debt levels and overdue debt levels on the Inland Revenue student loans web site.

Analyses of Student Loans:
The Education Counts website contains a number of analyses of student loans. Many of these are drawn from the integrated dataset on Student Loan Scheme borrowers who link data from the three agencies that manage the scheme. More information about the integrated dataset is available on the Statistics New Zealand website.

The Student Loan Scheme Annual Report:
The agencies produce an annual report on the Student Loan Scheme. That report is tabled each year in Parliament. These annual reports contain borrowing statistics, data on the level of people’s loans, repayment information, information on the costs of the loan scheme and the financial statements. The most recent annual reports may be downloaded from the Education Counts website.

Eligibility for student loans:
For information on eligibility, or to apply for a student loan, go to the StudyLink website.

Student loans are interest-free while borrowers are New Zealand-based (including those borrowers treated as being New Zealand-based). Interest amounts charged are written off.

In most cases, borrowers who are living overseas won’t qualify for an interest-free student loan if they are overseas for 184 days (about 6 months) or more. However, they may still qualify for their existing loan to remain interest-free if they meet the conditions for specific situations. Borrowers must provide proof to support an exemption application.

Find out more about interest-free student loans while overseas on the Inland Revenue website.

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