How To Obtain Student Loans In New Zealand As An International Student

There are many places to choose from when deciding to study as an international student. While some people would prefer studying in the Uk, Us or Canada there are many reasons why you should consider studying in New Zealand.

New Zealand over the years has demonstrated that they are passionate about education by making various scholarships available to students, having a lesser age restriction on prospective students and some of their universities being ranked one of the best in the world they include; University of Otago, University of Aukland, University of canterbury e.t.c

Their cost of living in most cities in the country is quite affordable, with food being relatively cheap especially when visiting local restaurants. Asides these if you love adventure then there are lots of activities you can be involved in during long vacations such as; water rafting, skiing and mountain biking.

Read Also: Top 10 Easiest Countries to Immigrate To


When Is A Student Loan Necessary?

Sometimes when studying in a foreign land even when you have probably calculated an estimated budget for your expenses during your stay at school, there might be other expenses which may come in the form of;

  • Travel expenses
  • Insurance
  • Cost of books/laboratory fee
  • Library/Examination fee
  • Buying a new laptop
  • Student field trips e.t.c

These unforeseen expenses might put a strain on your financial budget and if you do not have an alternate source of income in form of bursaries, scholarships, or part-time jobs then you may have to apply for a loan.

How Does Student Loan Work In New Zealand?

Only a few private banks in New Zealand give out loans to international students. Even at that, the process for obtaining loans varies from each bank although there is no guarantee that you would be given a loan even when you have all the requirements.

What Would I Need To Obtain A Loan?

Requirements for student loans depend largely on which bank you are obtaining your loan from. The general requirements include;

  • Admission letter
  • Have commenced studies for six months or longer
  • Valid ID card
  • Signature Proof
  • Salary slip(for co-signer preferably a citizen or permanent resident)
  • Statement of accounts (3-6months)
  •  Completed application form with signature
  • Passport size photographs
  • Valid  Student Visa and Passport (for international students )

Is there a Minimum Amount?

The minimum or maximum amount that you may be entitled to depend solely on the bank which you have approached for a loan with interest rates and repayment plans also varying on the financial institution.


Before applying for a loan, I would suggest that you discuss various funding opportunities with your supervisor or university before leaving your home country. You could also be on the lookout for scholarship opportunities either from your home country or in your university. There are also opportunities for working up to 20 hours per week during sessions and full time during long vacations with a valid student visa.

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