Student Loan at a glance
What a Student Loan is for, if you can get it, how much you could borrow and when, and how to apply.
What a Student Loan is for
A Student Loan can help you finance your study. It’s made up of three parts:
- course fees – for the compulsory fees charged by your education provider
- course-related costs – to buy materials or services for your course
- living costs – to help with your weekly expenses.
You choose which parts you need.
You have to pay back your student loan, so borrow only what you need.
Who can get a Student Loan
To get a student loan you usually have to be:
- enrolled on a tertiary course
- studying full-time or limited full-time, or meet StudyLink’s requirements for part-time study
- a New Zealand citizen, or meet residency requirements
- under 55 when your course starts, for course-related costs and living costs borrowing – there’s no upper age limit for course fees borrowing.
You’ll also need to:
- sign a contract with the government
- nominate a contact person in New Zealand.
If you get a student loan, you’ll need to pass at least half the work of your previous study to get it again.
Go to Who can get it for more information on getting a student loan and situations where you cant get a loan.
How much Student Loan you can borrow
You choose how much of each part of your student loan you borrow. If you don't need the full amount, borrow less.
You can usually borrow some or all of your compulsory course fees.
You can usually borrow up to $1,000 a year for course-related costs.
You can usually borrow up to $176.86 a week for living costs.
You can get a student loan for study with a value of up to seven 'equivalent full-time students' or EFTS, which is about seven or eight years of full-time study. This is your lifetime limit for a student loan.
When you get your student loan
We pay your student loan for compulsory course fees directly to your education provider.
We pay your course fees on the later of two dates.
- Two weeks before your course starts.
- Seven days from the date of the letter we send you when we've approved your student loan.
This letter shows you the payment date and amount.
We pay your student loan for course-related costs directly to your bank account. The earliest we can do this is 14 days before your course starts.
We pay your student loan for living costs from the latest of three dates.
- The date your student loan is approved from.
- The date you start your course.
- The date you nominate.
We pay your student loan for living costs directly to your bank account. The earliest we can do this is in the second week of your course. This is because we make payments a week in arrears.
It doesn’t matter which day of the week you start study, you will get paid from Monday through to Sunday.
You can’t get a benefit from Work and Income for the period you get living costs.
What you need to apply for a Student Loan
If you’re applying for the first time, you’ll need:
- your birth certificate or passport – to show your date of birth
- your passport or citizenship papers – to show your residency status
- a printed note from your bank with your account name and number – if you’re applying for course-related costs or living costs – to show your bank account details
- your marriage certificate or deed poll papers – if you’ve changed your name.
Go to the Documents supporting your application page to find out about verifying copies of original documents.
Other forms to complete your application
When you apply online, you’ll answer questions about whether you:
- plan to study overseas
- need to apply for an extension to your lifetime limit
- want to apply for limited full-time status.
Depending on your answers, the online application will give you the other forms you need to complete for your application.
If you can’t apply online, download the other forms you need and contact us. You’ll need to complete these other forms and an application form for a student allowance and a student loan.
- Overseas study application form
- Student Loan EFTS extension application form
- Limited full-time application form
How to apply for a Student Loan
You need to apply for a student loan each time you enrol for a new study period – usually each year.
Apply as soon as you can, even if you’re still deciding what or where you’re going to study, so you get paid on time.
The quickest and easiest way to apply is online.
Each time you apply, you can apply to borrow for compulsory course fees and living costs.
When we’ve accepted your student loan contract, you can claim for course-related costs separately, through your MyStudyLink secure account.
You can also apply for living costs, or change how much you borrow for them, through MyStudyLink.