Changes to Student Loans and Allowances - Budget 2010

The Student Loan changes are:

• The Student Loan administration fee will be renamed the establishment fee and increased to $60.
• The introduction of a $40 administration fee which will be administered by Inland Revenue.
• Permanent residents and Australian citizens will have a two year stand-down before they are eligible to Student Loans.
• A 7 EFTS lifetime limit for Student Loans will be introduced.
• A performance measure is being introduced for Student Loans.

The Student Allowance changes are:

• A 92 week limit will be introduced for secondary school study.
• Students will no longer be able to receive Student Allowance and New Zealand Superannuation or Veterans Pension at the same time.
• Adjustments to residency criteria to bring Student Allowance in line with Student Loans.