Student loans, allowances and other ways to pay

Student allowances

You may be eligible for a student allowance administered by StudyLink. A student allowance is a weekly payment to help with your living costs while you study full time. You don’t have to pay this back.

If you're living away from home, you may also qualify for an accommodation benefit as well.

• StudyLink website - information on student allowances

Student loans

You may be eligible for a student loan. A student loan is money from the government to help you pay course fees, course-related costs and living costs while you are studying. You have to pay this money back, so it makes sense to:

• find out if you are eligible for a loan
  
• make sure you understand what your responsibilities are. For example, from 2011, you'll need to pass half your courses to be eligible for further loans
• know how the student loan system works and what interest the loans are subject to
  
• know when the loan payments are made (and the date when the money will go into your bank account) – so that you have enough money in the meantime
  
• borrow only what you need – the less you borrow, the sooner you can pay it back
  
• work out how long it will take you to pay the loan back and when you’ll need to start.

• StudyLink website - information on student loans
• Inland Revenue Department website - find out more about loan repayment thresholds and interest rates and write-offs
• Sorted website - use the student loan calculator to work out how long it will take to repay your loan

Other ways to pay for your study

Have you thought about:

• working part time?
  
• whether you are eligible for a scholarship or grant?
  
• whether you are eligible for any extra financial help such as medical or disability support, or an accommodation allowance?

• Scholarships, grants and awards - find out where to look for scholarships, and how to apply
• Studylink website - sorting the money for study
  
  

Find out more