Tuesday, 24 October 2017

Finding the funds for higher education

    1. Features
    2. Education Guide
    3. Tertiary

    Tertiary education can be expensive, thankfully students have options in terms of what they can borrow and subsidies they may be entitled to. The Government, through StudyLink, lends money for tuition fees, course costs and living costs, and also subsidises living costs for some students. Whichever option fits you, it is best to apply as soon as you can to ensure everything is sorted before you start your study.


    WHAT IS AVAILABLE?


    STUDENT LOANS
    You can borrow money to pay for compulsory course fees, course-related costs (textbooks, computer, travel etc) and living expenses.

    You can decide what parts of the loan you'd like to apply for - you should only borrow what you need.

    You will need to repay the money you borrow once you start earning over a certain income threshold (more than $367 before tax per week). Repayments must still be made if you go overseas.

    There are restrictions around who can take out a student loan. These include citizenship requirements; course requirements; previous loans; and if you are under 18, one of your parents needs to give permission for you to get a loan.

     

    STUDENT ALLOWANCE
    This is a weekly payment to help with your living costs which you don't have to pay back.

    Eligibility is based on age, residency, income, parents' income and course type.

    It is aimed at students from low-income families who may not be able to study otherwise.


    COMMUNITY SERVICES CARD
    Tertiary students are eligible for this card, which helps with healthcare costs.


    SCHOLARSHIPS AND GRANTS
    There are thousands of these available to help with the cost of tertiary studies at all levels. Tertiary institutions have a range of scholarships available, as well as some industry groups and community groups.

    For more information about what you can borrow, and to apply for a student loan, visit www.studylink.govt.nz