Student Loan Scheme Annual Report 2018

Publication Details

The purpose of this annual report is to inform Parliament and the New Zealand public about the performance of the Student Loan Scheme in 2017/18. It also includes the audited financials schedules of the scheme for the year ending 30 June 2018.

Author(s): Ministry of Education.

Date Published: November 2018

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This report is available as a download (please refer to the 'Downloads' inset box).  For links to related publications/ information that may be of interest please refer to the 'Where to Find Out More' inset box.


Borrowing in 2017

The number of students using the Student Loan Scheme has been decreasing since 2010, this is consistent with a reduction in tertiary education enrolments due to the stronger labour market.

  • 42,136 new borrowers used the loan scheme, a decrease of 5.5 percent compared with 2016
  • The total amount borrowed was $1.57 billion
  • Students used 67 percent of the total they borrowed to pay for course fees
  • For the first time since 2013, the number of borrowers at masters and honours levels decreased, following the trend of all other levels of study
  • Of the 170,037 active student loan borrowers:
    • 60 percent were female
    • 40 percent were male
    • 63 percent were European
    • 19 percent were Māori
    • 14 percent were Asian
    • 10 percent were Pacific people

Repayments in 2017/18

  • 42,465 borrowers repaid their loans in full in the year to 30 June 2017.
  • Overdue student loan debt was $1.3 billion; overseas-based borrowers owed 91 percent of the amount overdue.
  • 47 percent of overseas-based borrowers are taking positive actions towards repaying their student loan
  • The forecast median repayment time for all borrowers who left study in 2016 was 8.2 years

Value of the Student Loan Scheme in 2017/18

  • The nominal value of all loans was $15.9 billion
  • The cost of lending was 44.43 cents in every dolloar lent (a total of $594 million) over the year ended 30 June 2018
  • The carrying value of the loan scheme (or the value of the loan asset) was $9.3 billion