Student Loans and Allowances
StudyLink is the government department which manages student loans and allowances for tertiary students in New Zealand. Phone StudyLink free-phone 0800 88 99 00 or check out their website http://www.studylink.govt.nz/ to find out whether a StudyLink loan and/or allowance is right for you. Sue Blumsky at The Learning Connexion (TLC) can also help with information and advocacy.
You can find out whether you are eligible and complete an application online; or if you don’t have a computer, ask StudyLink to mail you an application form.
If eligible, you may borrow the full cost of tuition fees.
Full-time students under 55 years of age may also borrow an extra $1000 per 52 week period for course related costs.
If you don’t qualify for the student allowance you may be eligible for student loan living cost which is a payment for living expenses while you study (must be repaid).
The Learning Connexion student ID number: StudyLink will ask for this on your application form. We use your name and first initial i.e. if your name was Bobby Green, your student ID number is greenb. Study Link will also want your study dates – contact us to find these out. For more information on the loan, see StudyLink's page about student loans.
If eligible you may receive a weekly payment to help with your living costs while you study. You must continue to meet the work requirements of the programme to keep receiving your payments. To see how much you would get see StudyLink's page about student allowances. You don't have to pay this back.
Is it enough to live on?
Student allowance (and) payments for living expenses are basic and may not cover all your expenses while you study. ‘Get Sussed’ is a financial plan tool for people considering study and is available from StudyLink, as a brochure or viewed online at: http://www.studylink.govt.nz/thinking-about-study/sussed-reality-check.html
Student Job Search
If you realise you need to get a part-time job to supplement your income, you can earn up to $206.73 before tax (from 1 April 2012) before your Student Allowance payments are affected.
Student Job Search assists students to find part-time or one-off work opportunities.
Contact (0800) 757 562 or email email@example.com.
2011& 2012 Changes to StudyLink Loans and Allowances
Student loan changes:
· Part-time students are not eligible for the course-related costs part of the Student Loan
If there is a reason you can’t study full-time which is outside of your control, you may be eligible for Limited Full-time Status (full-time entitlements for part-time study). In this case you will be eligible for course related costs.
· Performance requirement for Student Loan
For any study since January 2009; once you have done over 1.6 EFTS (approx. 1½ years fulltime) you must pass at least half of all study done to remain eligible for a Student Loan.
If you think you have a genuine reason (medical, social or psychological) to be exempt from the performance requirement talk about your circumstances with StudyLink.
· Lifetime limit for loans
There is now a lifetime limit of 7 EFTS for student loans.
(This equates to approximately 7 years of full-time study or up to 10 years for post-graduate study).
· People aged 55 years and over, starting from 1 January 2013, will only be eligible for the compulsory fees component of the Student Loan (and Student Allowance if they meet the usual criteria).
· Student loan borrowing is limited to 2 EFTS per year
This would affect very few, if any, Learning Connexion students. It pertains to students who are study over 1 EFTS with another provider while full-time at The Learning Connexion
· Student loan repayment rate is now 12%
It was previously 10%. This is what you pay once your income is over the threshold of approx. $19. 000. The income included in this threshold now includes a broader range of income types.
· The voluntary repayment bonus will stop from April 2013
Student allowance changes:
· Lifetime limit for Student Allowance is 200 weeks (few exemptions)
· Student Allowance is no longer available for post-graduate study (Level 8 and over)
Currently, The Learning Connexion programmes only go up to level 7 so this is not applicable to our students.
|EFT Values of The Learning Connexion ProgrammesStudyLink measures study in EFTS. The EFTS value or equivalent fulltime value is the amount of study or the workload involved in undertaking a particular programme.|
|Level 4 Full-time or part-time||.54 EFTS|
|Level 5 & 6 Full-time||.98 EFTS|
|Level 5 & 6 Part-time||.49 EFTS|
|Level 7 Full-time||1.0 EFTS|
|Level 7 Part-time||.50 EFTS|
If you withdraw after your enrolment or don't fully complete; the EFTS for your programme will still be counted towards the lifetime limit. Please choose your study carefully.