Living costs
The Student Loan is made up of three parts. When you apply for a loan, you choose what parts you need. The living costs part of a Student Loan can help with your weekly expenses if you don't qualify for a Student Allowance.
How much you can borrow for living costs
You can borrow up to $150 a week for living costs while you're studying, or on a study break of three weeks or less (less any amount you get for a Student Allowance).You choose how much you want to borrow. If you don't need the full $150, ask for less.
Unlike the Student Allowance, your Student Loan living costs are not affected by any other income you earn. However, if you do start to earn other income it's a good idea to reduce your living cost payments, because what you borrow you have to pay back.
How and when payment is made
Living costs payments are direct credited to your bank account on a Tuesday, Wednesday or Thursday.
Your living costs payments start in the second week of your course (you are paid one week in arrears).
You can change the amount of living costs you borrow or view your payments at any time using MyStudyLink. If you don't already have an online account call us on 0800 88 99 00.
Remember, you must be fully enrolled in your course for us to be able to pay any part of your Student Loan.
How to apply
Read the process to find out what happens when you apply for a Student Loan, and when you're ready, apply online and apply early.
You need to apply for the living costs part of your Student Loan before your course starts or you may miss out on some payments.
How much you can get for living costs if you get a Student Allowance
The amount you can borrow goes down by the amount of Student Allowance you get after tax (not including the Accommodation Benefit payment).
For example, if you get a Student Allowance of $50 a week after tax, you'll only be able to borrow up to $100 a week for Student Loan living costs.
If your Student Loan for living costs is approved before your Student Allowance, you'll receive your living costs payments until you start getting the Student Allowance.
Once your Student Allowance is approved, any back payments you are entitled to will automatically be used to repay any Student Loan living costs you have borrowed for the same period.