Loan contract
You need to sign a Student Loan contract with the Government for every Student Loan you take out. You need to read and understand the contract's terms and conditions before you sign it.
What you need to do with your Student Loan contract
We will process your application and send you a contract to sign. This is a formal agreement between you and the government so it's important that you read and understand it. If you're unsure about anything, get independent legal advice before you sign it.
You'll have to sign a contract for every Student Loan you take out, and take out a new loan each time you start a new course.
You'll get two copies of the contract (one of these is for you to keep) and an information booklet.
- Check that the contract details are correct. If any of the information is wrong, mark your changes with a pen and write your initials next to each change.
- Read the contract terms and conditions. Make sure you understand your obligations.
- Sign the contract.
- Return your signed contract along with any supporting documents we need to see (the letter that came with the contract tells you what you need to provide). Put these in the reply-paid envelope and post as soon as possible. Keep the 'student copy' of the contract for your records.
- We will check your supporting documents and return any originals to you by courier. If you made changes to your contract, we will update your details and you may get an updated contract to sign.
- We'll ask your education provider to confirm your study details. If you qualify for a Student Loan, we'll send you a Loan Entitlement Advice (LEA) letter to tell you that your loan has been approved (and your loan account opened). Your LEA letter also tells you what you're entitled to, when your loan is available, and what your rights are if you want to cancel your contract.
You don't have to sign the contract if you decide not to take out a loan, but please let us know by calling 0800 88 99 00.
Who needs to sign your contract if you're under 18
If you are under 18 years old, one of your parents (or guardian) must sign your contract to show they agree to you taking out all three parts of the loan.It doesn't mean they're guaranteeing your loan, you're still fully responsible for choosing which parts of the Student Loan you want to borrow, and for paying it back. Once your parent has signed the contract they can't withdraw their consent.
They won't need to sign your contract if you're legally married, have a dependent child, or have an Independent Circumstances Allowance application approved.
How to cancel your Student Loan contract
You can cancel your contract if you decide you don't want a loan after you've signed and sent it back to us. The latest that you can do this without having to pay costs is seven working days from the date of your initial Loan Entitlement Advice (LEA) letter.
If you (or your education provider) get any money from your loan, it must be repaid within the seven day cancellation period (you won't have to pay back the administration fee). After seven days, you might have costs to pay that can't be recovered.
To cancel your contract, you must write to us within seven working days of the date on your initial LEA letter.
You can either take your written cancellation into a StudyLink outreach site, or post to:
StudyLink Centre
Freepost 113907
Private Bag 11070
Palmerston North 4442
You can call us on 0800 88 99 00 to let us know you plan to cancel your contract, but the written cancellation must still be received by us within those seven working days.
Please note: cancelling your Student Loan contract doesn't mean cancelling your enrolment; you need to contact your education provider if you want to cancel your enrolment.