Fees and student loans

The Government subsidises the tuition of students at state tertiary institutions and approved private training establishments. Currently, students contribute about 26% of the cost of a course. Costs vary depending on the type and level of courses taken. For example, the first year of full-time study for an Arts degree may cost about $3,000, while fees for the final year's training as a doctor or dentist can be as much as $10,000.

Student loans are available to meet these costs. All students – even those receiving student allowances – can apply for a government-funded student loan. While students are studying full-time, the loans are interest-free. When students have completed their studies, repayments are made through Inland Revenue. These are income-related. Repayment rates are currently 10% of everything earned over $19,084 in any one year, or $367 per week before tax. (For further information, see Government: Student Loans.)

 

Currently, students can borrow the following under the loan scheme:

• the full cost of course fees
• up to $1,000 a year for course-related expenses
• up to $160.24 a week for living expenses for the length of the course, less any student allowances.
  (This provision applies only to full-time students.)