Student Loan

What is the point of a Student Loan?

A student loans exists so that everyone has equal opportunity to further their education without the barrier of cost. A student applies to get a loan to cover the cost of a course at Ara or Uni etc. You might also be eligible for money for food and bills and the costs of books etc. for your course.

Who can get a Student Loan?

Anyone. However if you are under 18 you do need a guardian to sign it off and there is a limit to how many years you can get it for (about 7-8 years full time study).

How do you apply?

You apply once you have been accepted into a course and applications are done online. This is something our careers department can help you with closer to the time!

How do repayments work?

You do have to pay your student loan back... but in Aotearoa we are very lucky! Our student loans are interest free*. This means that unlike other loans you might use in your life, you will only pay the amount you borrowed. 

You don't have to start paying it until you earn and earn over a certain amount. You start making repayments when you earn $22,828 a year before tax ($439 a week before tax).

*The only time you would have interest added to your loan is if you moved overseas.