Budget 2010 Changes to Student Loans and Allowances
20 May 2010.
Earlier today the Government announced changes to Student Loan and Student Allowance eligibility criteria.
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.