Budget 2015
21 May 2015.
The 2015 Budget included the following announcements affecting tertiary students:
Increase to Student Allowance rates for families with children
The Government has announced that Student Allowance rates for families with children will increase by $25 a week after tax.
This change will start on 1 April 2016. You can find out more below.
Student Allowance parental income threshold to remain at current limit
The Student Allowance parental income threshold of $55,027.96 will be maintained without CPI adjustment until March 2019.
In Budget 2012 the Student Allowance parental income threshold was maintained at $55,027.96 without CPI adjustment until March 2016. This current initiative maintains the threshold now till March 2019.
Student Allowance rates and personal and joint income thresholds will continue to be reviewed on 1 April each year.
Annual Maximum Fee Movement set at 3% for 2016
The Annual Maximum Fee Movement (AMFM) is proposed to be 3% for the 2016 calendar year.
The AMFM policy regulates the amount education providers can increase fees and compulsory course costs each year.
This change is subject to public consultation following the Budget announcement and will be confirmed in mid-2015. Consultation on the proposed level will follow a notice in the New Zealand Gazette on Thursday 28 June more information on the consultation is available on the Ministry of Education website.
Further Information