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