Loans and Allowances
Changes to the Government Student Loan Scheme
Summary of Changes to Student Loan Eligibility
The New Zealand Government has introduced a series of changes to the Student Loan Scheme alongside performance measures that may affect your ability to access a student loan for the duration of your planned study.
Summary:
- You will be eligible to access a student loan to fund up to 7 'EFTS' in your lifetime. For a full-time student this equates to approximately seven to eight years of study. If you intend to complete postgraduate study, your lifetime limit may be extended to 10 'EFTS'
- Once you have used 1.6 EFTS (approximately two-years of full-time study) of your lifetime allowance you will be required to pass at least 50% of your courses to continuing accessing a student loan. Your results in the 2009 and 2010 academic years will be included. If you do not achieve this success rate you may pay privately to continue your study until you have passed more than 50% of your papers, at which time you may re-apply to be granted a student loan.
- If you are an Australian citizen you will have to wait two years before becoming eligible for a student loan.
- If you are a new Permanent Resident in New Zealand you will have to wait two years before becoming eligible for a student loan.
Since these changes may affect your ability to access a student loan for study in 2011, we recommend you visit www.studylink.govt.nz or phone 0800 88 99 00 to determine your eligibility prior to accepting an offer of place at Otago Polytechnic.
It is extremely important that you contact StudyLink immediately if:
- You are an Australian citizen or new permanent resident OR
- You have failed 50% or more of any academic courses completed in 2009 and 2010 (at any tertiary institution)
Download the leaflet that summarises these changes and how they may affect you. (PDF).
StudyLink Dunedin location:
Cnr Castle and St Andrew Streets
Monday, Tuesday, Thursday, Friday: 8.30am – 5.00pm
Wednesday: 9.30am – 5.00pm
Freephone number: 0800 88 99 00
Fax free: 0800 88 33 88