Financial Support for Tertiary Students
The latest statistics relating to financial support for students including student loans, allowances and scholarships.
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Table T1: Funding of tertiary education
Source: Ministry of Education, Tertiary Education Commission and Ministry of Social Development. Refer to Table 1, Part 1, Page 10 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Government expenditure | 2018/19 | 2019/20 | 2020/21 | |
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Expenditure ($ million) | Student loans - fair value write down on new borrowings | 563 | 506 | 469 |
Student allowances | 583 | 567 | 590 | |
Tuition subsidies, Fees Free, HAFL, TAFL | 2,265 | 2,407 | 2,820 | |
Total | 3,411 | 3,480 | 3,879 | |
Total as % of GDP | 1.10 | 1.10 | 1.16 |
Table F2: Median loan balance on leaving study
Source: Stats New Zealand IDI Refer to Figure 2, Part 1, Page 11 of the Student Loan Scheme Annual Report 2020/21 Notes: Shown is the median loan balance in dollars following the last year of study, and the same figure deflated to March 2001 dollars. |
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Year of last study | Median loan balance | Inflation adjusted Median loan balance |
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2019 | $ 22,299 | $ 15,017 |
2018 | $ 21,610 | $ 14,922 |
2017 | $ 19,350 | $ 13,559 |
2016 | $ 18,650 | $ 13,212 |
2015 | $ 17,780 | $ 12,869 |
2014 | $ 17,000 | $ 12,356 |
2013 | $ 15,990 | $ 11,651 |
2012 | $ 14,670 | $ 10,853 |
2011 | $ 13,570 | $ 10,126 |
2010 | $ 12,310 | $ 9,330 |
2009 | $ 11,680 | $ 9,248 |
2008 | $ 11,170 | $ 9,025 |
2007 | $ 10,620 | $ 8,835 |
2006 | $ 10,210 | $ 8,780 |
2005 | $ 10,330 | $ 9,109 |
2004 | $ 9,490 | $ 8,645 |
2003 | $ 9,410 | $ 8,811 |
2002 | $ 8,700 | $ 8,272 |
2001 | $ 8,470 | $ 8,256 |
2000 | $ 8,360 | $ 8,360 |
Table F2.1: Median loan balance for leavers by gender - all borrowers and those who studied at bachelor level
This table is produced online only
Source: Ministry of Education This is a supporting table for Figure 2, Part 1, Page 11 of the Student Loan Scheme Annual Report 2020/21 |
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All levels | Bachelor level | |||
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Year of last study | Male | Female | Male | Female |
$ | $ | $ | $ | |
2019 | 23,010 | 21,810 | 30,910 | 29,310 |
2018 | 22,130 | 21,460 | 30,440 | 29,150 |
2017 | 19,670 | 19,610 | 28,570 | 27,560 |
2016 | 18,080 | 18,720 | 28,290 | 26,480 |
2015 | 17,200 | 17,370 | 27,070 | 25,290 |
2014 | 16,030 | 16,550 | 26,420 | 24,010 |
2013 | 15,110 | 15,480 | 25,360 | 22,910 |
2012 | 13,870 | 14,280 | 24,060 | 20,990 |
2011 | 13,420 | 13,350 | 22,820 | 19,590 |
2010 | 12,140 | 12,080 | 20,940 | 17,840 |
2009 | 11,390 | 11,570 | 20,270 | 17,470 |
2008 | 11,370 | 10,990 | 19,970 | 16,630 |
2007 | 10,820 | 10,440 | 18,500 | 15,550 |
2006 | 10,610 | 9,840 | 19,070 | 15,980 |
2005 | 10,720 | 9,810 | 19,270 | 16,160 |
2004 | 10,080 | 8,710 | 17,490 | 14,130 |
2003 | 9,780 | 8,780 | 16,300 | 13,710 |
Table F4: Percentage of borrowers who fully repaid each year
Source: Stats New Zealand IDI Refer Figure 4, Part 1, Page 12 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Exit Year | 2003 | 2007 | 2011 | 2015 |
---|---|---|---|---|
2020 | 79.5% | 72.8% | 62.9% | 38.3% |
2019 | 77.4% | 69.1% | 57.1% | 29.4% |
2018 | 75.4% | 66.2% | 52.0% | 22.0% |
2017 | 74.5% | 65.0% | 48.4% | 15.8% |
2016 | 72.5% | 61.5% | 41.7% | 7.4% |
2015 | 70.2% | 57.6% | 34.8% | |
2014 | 67.6% | 53.0% | 27.2% | |
2013 | 64.5% | 47.8% | 19.4% | |
2012 | 60.9% | 41.4% | 10.3% | |
2011 | 57.3% | 34.4% | ||
2010 | 53.5% | 27.3% | ||
2009 | 48.7% | 19.4% | ||
2008 | 43.3% | 9.6% | ||
2007 | 37.3% | |||
2006 | 30.0% | |||
2005 | 22.5% | |||
2004 | 11.8% | |||
2003 | 0.0% |
Earning potential
Five years after graduation the median earnings of those with a Master’s degree was 8.0 percent higher than those with a Bachelor’s degree and 27 percent higher than those with a level 5-7 certificate.
Table F3: Median annual earnings of young domestic graduates
Source: Stats NZ IDI, Tertiary Education Commission Refer to Figure 3, Part 1, Page 11 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Earnings as a percentage of national median earnings by year after qualification | ||||||||||
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(%) | ||||||||||
Qualification level | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
Doctorates | 136 | 145 | 143 | 148 | 151 | 149 | 153 | 162 | 159 | 166 |
Masters | 108 | 120 | 125 | 129 | 127 | 136 | 140 | 140 | 141 | 137 |
Honours & postgraduate certificates/diplomas | 122 | 125 | 129 | 127 | 135 | 138 | 140 | 141 | 144 | 148 |
Graduate certificates/diplomas | 98 | 102 | 108 | 113 | 119 | 122 | 123 | 126 | 131 | 134 |
Bachelor degrees | 112 | 118 | 117 | 120 | 120 | 123 | 125 | 124 | 123 | 125 |
Level 5-7 certificates/diplomas | 100 | 100 | 98 | 98 | 100 | 100 | 100 | 100 | 102 | 104 |
Level 4 certificates | 111 | 111 | 104 | 104 | 102 | 104 | 108 | 105 | 107 | 107 |
Level 1-3 certificates | 114 | 110 | 107 | 102 | 96 | 98 | 96 | 94 | 95 | 95 |
Participation and borrowing
Participation
Since 2010 the overall enrolment rate of students and those in full-time equivalent study has steadily decreased.
Table F5: Enrolment by domestic students in tertiary education
Source: Ministry of Education Refer to Figure 5, Part 1, Page 13 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Years | Students | EFTS |
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2020 | 329,335 | 213,020 |
2019 | 328,180 | 215,705 |
2018 | 335,655 | 220,250 |
2017 | 343,590 | 223,280 |
2016 | 353,500 | 230,765 |
2015 | 358,050 | 233,450 |
2014 | 363,075 | 239,695 |
2013 | 368,685 | 244,770 |
2012 | 372,765 | 245,685 |
2011 | 381,460 | 245,580 |
2010 | 418,175 | 254,520 |
2009 | 422,990 | 250,635 |
2008 | 418,655 | 235,115 |
2007 | 441,710 | 237,445 |
2006 | 445,480 | 235,440 |
2005 | 452,410 | 242,820 |
2004 | 432,745 | 243,115 |
2003 | 407,420 | 239,450 |
2002 | 379,825 | 224,235 |
2001 | 342,440 | 203,795 |
2000 | 314,615 | 190,665 |
1999 | 294,425 | 181,100 |
1998 | 259,280 | 160,275 |
1997 | 258,935 | 154,840 |
1996 | 260,545 | 148,465 |
1995 | 259,215 | 145,410 |
1994 | 245,935 | 139,975 |
Table T2: Participation and completion by domestic students
Source: Ministry of Education Refer to Table 2, Part 1, Page 13 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Participation and completion | 2018 | 2019 | 2020 | |
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Domestic students participating in tertiary education | Total (000) | 336 | 328 | 329 |
20 years old and under | 89 | 86 | 84 | |
21-26 years old | 96 | 94 | 95 | |
27-50 years old | 121 | 119 | 122 | |
Over 50 years old | 31 | 30 | 28 | |
Female | 199 | 198 | 201 | |
Male | 137 | 130 | 128 | |
Māori | 76 | 74 | 70 | |
Pacific people | 32 | 33 | 33 | |
European | 209 | 204 | 207 | |
Asian | 50 | 51 | 53 | |
Domestic students completing qualifications | Non-degree | 75 | 72 | 62 |
Bachelors | 28 | 27 | 27 | |
Postgraduate | 16 | 14 | 14 | |
Total | 117 | 112 | 103 |
The proportion of borrowers enrolled at a bachelor degree level and higher has steadily increased while Level 1 – 4 certificates decreased substantially over the last 10 years .
The trend in the age of borrowers continues to show a reduction in borrowers who are under 26 years old. This trend is consistent with the introduction of the Fees Free policy in 2018.
Table T2.1: Trends in level of study among borrowers in 2019
This table is produced online only
Qualification level | Number of students |
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Level 1-3 Certificates | 8,802 |
Level 4 Certificates | 10,806 |
Level 5-7 Diplomas | 14,832 |
Level 7 Bachelors | 91,131 |
Level 8 Honours/Postgrad cert/dip | 13,671 |
Level 9 Masters | 8,256 |
Level 10 Doctorates | 1,365 |
Non Formal | 6 |
Missing | 42 |
Total | 148,905 |
Source: Ministry of Social Development and Ministry of Education This is a supporting table for Table 2, Part 1, Page 13 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Qualification | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
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Bachelors degrees or higher | 56.1% | 56.6% | 60.1% | 59.5% | 60.6% | 61.9% | 64.4% | 66.2% | 68.0% | 69.2% | 71.0% | 72.6% | 75.1% | 76.8% | 76.8% |
Level 1–4 certificates | 30.0% | 26.6% | 27.8% | 25.8% | 25.6% | 24.8% | 23.1% | 22.3% | 20.9% | 19.9% | 18.3% | 17.1% | 14.5% | 13.1% | 13.2% |
Table T2.2: Trends in the age profile of borrowers
This table is produced online only
Age groups | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
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Under 18 | 3,206 | 4,143 | 4,473 | 4,246 | 4,148 | 3,942 | 4,147 | 4,333 | 4,033 | 3,978 | 3,059 | 2,602 | 2,347 | 2,031 | 1,632 | 1,440 | 1,199 | 1,146 | 574 | 429 | 411 |
18 - 20 | 37,546 | 41,677 | 41,938 | 42,645 | 42,512 | 42,483 | 47,571 | 51,534 | 54,502 | 60,415 | 63,525 | 62,655 | 62,366 | 61,330 | 59,989 | 59,121 | 58,365 | 56,279 | 45,876 | 42,056 | 40,269 |
21 - 23 | 30,981 | 34,408 | 35,762 | 37,259 | 37,456 | 37,202 | 39,804 | 41,566 | 43,726 | 48,787 | 53,398 | 53,833 | 54,184 | 52,761 | 52,042 | 51,244 | 50,204 | 48,818 | 47,718 | 47,210 | 47,154 |
24 - 26 | 13,421 | 15,422 | 15,531 | 16,591 | 16,780 | 16,445 | 17,593 | 18,185 | 18,902 | 21,646 | 23,199 | 22,767 | 22,329 | 21,747 | 21,459 | 21,478 | 20,658 | 19,615 | 18,252 | 17,780 | 18,378 |
27 - 29 | 9,223 | 10,736 | 10,453 | 11,079 | 10,933 | 10,446 | 10,963 | 11,198 | 11,617 | 13,523 | 15,104 | 14,099 | 13,078 | 12,118 | 11,933 | 11,903 | 11,650 | 11,206 | 10,857 | 10,511 | 10,674 |
30 - 32 | 7,247 | 8,914 | 9,004 | 9,313 | 9,259 | 8,264 | 8,412 | 8,280 | 8,390 | 9,549 | 10,450 | 10,025 | 9,447 | 8,930 | 8,437 | 8,046 | 7,790 | 7,606 | 7,250 | 7,476 | 7,758 |
33 - 35 | 6,086 | 7,310 | 7,196 | 7,673 | 7,753 | 7,273 | 7,472 | 7,149 | 6,956 | 7,548 | 7,981 | 7,759 | 7,293 | 6,807 | 6,500 | 6,234 | 5,929 | 5,764 | 5,562 | 5,456 | 5,829 |
36 - 38 | 5,722 | 6,508 | 6,200 | 6,460 | 6,350 | 6,058 | 6,166 | 6,157 | 6,050 | 6,812 | 7,245 | 6,723 | 6,109 | 5,404 | 5,123 | 5,066 | 4,698 | 4,552 | 4,295 | 4,345 | 4,635 |
39 - 41 | 4,430 | 5,466 | 5,507 | 5,736 | 5,572 | 5,118 | 5,269 | 5,223 | 5,233 | 5,909 | 6,451 | 6,174 | 5,589 | 4,982 | 4,528 | 4,299 | 3,949 | 3,621 | 3,542 | 3,468 | 3,588 |
42 - 44 | 3,395 | 4,213 | 4,234 | 4,416 | 4,758 | 4,625 | 4,875 | 4,765 | 4,301 | 4,871 | 5,208 | 5,209 | 4,743 | 4,401 | 4,070 | 3,810 | 3,406 | 3,088 | 2,835 | 2,793 | 2,877 |
45 - 47 | 2,516 | 3,115 | 3,163 | 3,374 | 3,621 | 3,575 | 3,854 | 4,079 | 4,147 | 4,391 | 4,559 | 4,267 | 3,965 | 3,515 | 3,388 | 3,257 | 2,944 | 2,773 | 2,609 | 2,409 | 2,304 |
48 - 50 | 1,665 | 2,156 | 2,246 | 2,456 | 2,604 | 2,645 | 2,977 | 2,984 | 2,959 | 3,347 | 3,753 | 3,649 | 3,424 | 2,895 | 2,664 | 2,462 | 2,345 | 2,089 | 1,993 | 2,049 | 1,953 |
51 - 53 | 1,074 | 1,401 | 1,518 | 1,575 | 1,736 | 1,788 | 2,125 | 2,210 | 2,182 | 2,430 | 2,656 | 2,603 | 2,417 | 2,301 | 2,140 | 1,904 | 1,740 | 1,559 | 1,436 | 1,437 | 1,410 |
54 - 56 | 612 | 944 | 1,045 | 1,067 | 1,167 | 1,244 | 1,506 | 1,501 | 1,569 | 1,763 | 1,950 | 1,787 | 1,602 | 1,381 | 1,284 | 1,243 | 1,159 | 1,096 | 1,003 | 972 | 870 |
57 - 59 | 371 | 568 | 641 | 679 | 759 | 910 | 1,123 | 1,128 | 1,164 | 1,236 | 1,409 | 1,296 | 1,008 | 787 | 632 | 560 | 468 | 440 | 425 | 428 | 435 |
60 - 64 | 387 | 646 | 835 | 833 | 752 | 987 | 1,368 | 1,487 | 1,333 | 1,323 | 1,427 | 1,143 | 843 | 592 | 449 | 355 | 330 | 294 | 283 | 320 | 279 |
65 & over | 225 | 515 | 780 | 848 | 872 | 1,406 | 2,195 | 2,012 | 1,469 | 1,210 | 1,111 | 739 | 443 | 275 | 207 | 115 | 104 | 91 | 98 | 90 | 87 |
Total | 128,107 | 148,142 | 150,526 | 156,250 | 157,032 | 154,411 | 167,420 | 173,791 | 178,533 | 198,738 | 212,485 | 207,330 | 201,187 | 192,257 | 186,477 | 182,537 | 176,938 | 170,037 | 154,608 | 149,229 | 148,905 |
Source: Ministry of Social Development. This is a supporting table for Table 2, Part 1, Page 13 of the Student Loan Scheme Annual Report 2020/21 Notes: The counts of borrowers in 2020 have been randomly rounded to base 3. |
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2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
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Borrowers aged 26 or younger | 109,115 | 115,618 | 121,163 | 134,826 | 143,181 | 141,857 | 141,226 | 137,869 | 135,122 | 133,283 | 130,426 | 125,858 | 112,420 | 107,475 | 106,212 |
Percentage of borrowers aged 26 or younger | 65.2% | 66.5% | 67.9% | 67.8% | 67.4% | 68.4% | 70.2% | 71.7% | 72.5% | 73.0% | 73.7% | 74.0% | 72.7% | 72.0% | 71.3% |
Borrowing
Since 1992, 1.40 million students have borrowed a total of $30.2 billion through the Student Loan Scheme (net of refunds to Studylink, and inclusive of administration charges, to 30 June 2020). Borrowers have repaid $18,426 million. More than 771,000 borrowers have repaid their loans since the scheme began.
Table T3: Demographic characteristics of all active student loan borrowers
Source: Ministry of Social Development Refer to Table 3, Part 1, Page 14 of the Student Loan Scheme Annual Report 2020/21 Notes:
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All active borrowers | 2019 | 2020 | 2019 - 2020 change | ||
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n | % | ||||
Total number | 149,229 | 148,905 | -324 | -0.2 | |
Gender | Female | 92,243 | 92,868 | 625 | 0.7 |
Male | 56,969 | 55,689 | -1,280 | -2.2 | |
Gender Diverse | 17 | 354 | 337 | 1,982.4 | |
Age | Average age | 26 | 26 | ||
Median age | 22 | 22 | |||
20 years and under | 42,485 | 40,677 | -1,808 | -4.3 | |
21-26 years | 64,990 | 65,532 | 542 | 0.8 | |
27-50 years | 38,507 | 39,615 | 1,108 | 2.9 | |
Over 50 years | 3,247 | 3,081 | -166 | -5.1 | |
20 years and under (%) | 28.5 | 27.3 | |||
21-26 years (%) | 43.6 | 44.0 | |||
27-50 years (%) | 25.8 | 26.6 | |||
Over 50 years (%) | 2.2 | 2.1 | |||
Ethnic group | European (%) | 61.0 | 59.9 | ||
Māori (%) | 17.6 | 17.6 | |||
Pacific (%) | 9.3 | 9.3 | |||
Asian (%) | 15.4 | 15.3 | |||
Other (%) | 4.4 | 4.4 |
Table T3.1: Demographic characteristics of new active student loan borrowers
This table is produced online only
Source: Ministry of Social Development This is a supporting table for Table 3, Part 1, Page 14 of the Student Loan Scheme Annual Report 2020/21 Notes:
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New active borrowers | 2019 | 2020 | 2019 - 2020 change | ||
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n | % | ||||
Total number | 34,212 | 35,232 | 1,020 | 3.0 | |
Gender | Female | 20,100 | 21,048 | 948 | 4.7 |
Male | 14,112 | 14,055 | -57 | -0.4 | |
Gender Diverse | 0 | 129 | 129 | ||
Age | Average age | 23 | 23 | ||
Median age | 20 | 20 | |||
20 years and under | 23,143 | 23,184 | 41 | 0.2 | |
21-26 years | 5,516 | 6,294 | 778 | 14.1 | |
27-50 years | 4,905 | 5,145 | 240 | 4.9 | |
Over 50 years | 648 | 624 | -24 | -3.7 | |
20 years and under (%) | 67.6 | 65.8 | |||
21-26 years (%) | 16.1 | 17.9 | |||
27-50 years (%) | 14.3 | 14.6 | |||
Over 50 years (%) | 1.9 | 1.8 | |||
Ethnic group | European (%) | 53.8 | 53.4 | ||
Māori (%) | 15.3 | 15.1 | |||
Pacific people (%) | 8.8 | 9.0 | |||
Asian (%) | 16.4 | 16.2 | |||
Other (%) | 4.2 | 4.2 |
Table F8: Borrowing trends since 1992
Source: Ministry of Social Development and Ministry of Education Refer to Figure 8, Part 1, Page 16 of the Student Loan Scheme Annual Report 2020/21 Notes:
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1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
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Loan borrowings ($m) | 160 | 272 | 342 | 398 | 444 | 577 | 654 | 566 | 782 | 915 | 940 | 995 | 983 | 989 | 1,107 | 1,180 | 1,241 | 1,389 | 1,551 | 1,583 | 1,574 | 1,599 | 1,601 | 1,622 | 1,602 | 1,568 | 1,452 | 1,472 | 1,560 |
Borrowers | 44,202 | 68,411 | 79,338 | 89,817 | 95,411 | 105,038 | 114,387 | 115,142 | 128,107 | 148,142 | 150,526 | 156,250 | 157,032 | 154,411 | 167,420 | 173,791 | 178,533 | 198,738 | 212,485 | 207,330 | 201,187 | 192,257 | 186,477 | 182,537 | 176,938 | 170,037 | 154,608 | 149,229 | 148,905 |
Table F8.1: Number of total active borrowers and new active borrowers in each academic year
This table is produced online only
Source: Ministry of Social Development and Stats NZ IDI Support to Figure 8, Part 1, Page 16 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Year | Total active borrowers | New active borrowers |
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2020 | 148,905 | 35,232 |
2019 | 149,229 | 34,212 |
2018 | 154,608 | 30,613 |
2017 | 170,037 | 42,136 |
2016 | 176,938 | 44,566 |
2015 | 182,537 | 46,721 |
2014 | 186,477 | 49,038 |
2013 | 192,257 | 51,732 |
2012 | 201,187 | 54,836 |
2011 | 207,330 | 57,024 |
2010 | 212,485 | 63,535 |
2009 | 198,738 | 61,266 |
2008 | 178,533 | 54,330 |
2007 | 173,791 | 54,309 |
2006 | 167,420 | 56,007 |
2005 | 154,411 | 46,920 |
2004 | 157,032 | 49,575 |
2003 | 156,250 | 52,593 |
2002 | 150,526 | 53,046 |
2001 | 148,142 | 59,031 |
2000 | 128,107 | 56,160 |
1999 | 115,142 | 44,844 |
1998 | 114,387 | 46,884 |
1997 | 105,038 | 44,931 |
1996 | 95,411 | 42,015 |
1995 | 89,817 | 42,735 |
1994 | 79,338 | 38,415 |
1993 | 68,411 | 43,965 |
1992 | 44,202 | 44,259 |
Loan uptake
The overall loan uptake rate is reflective of both full-time and part-time students. The uptake rate of eligible;
- full-time students rose from 69 percent (127,921 students) in 2019 to 70 percent (127,583 students) in 2020,
- part-time students reduced from 33 percent (21,308 students) in 2019 to 30 percent (21,318 students) in 2020.
The Average and Median amounts borrowed by loan component over the last 10 years show that between 2010 and 2020;
- average amounts borrowed for course fees increased by 38 percent
- average amounts borrowed for living costs increased by 52 percent
The average and median amounts borrowed by loan component shows in 2020, the:
- average amount borrowed for course fees was $7,013 an increase of $160 or 2.3 percent
- average amount borrowed for living costs increased by $46 (0.8 percent) to $5,842
Table F6.1: Overall loan uptake
This table is produced online only
Source: Ministry of Social Development and Ministry of Education This is a supporting table for Figure 6, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Year | Students eligible to borrow | Borrowing uptake | Uptake rate |
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2020 | 251,832 | 148,905 | 59.1% |
2019 | 249,651 | 149,229 | 59.8% |
2018 | 248,826 | 154,608 | 62.1% |
2017 | 246,649 | 170,037 | 68.9% |
2016 | 253,737 | 176,938 | 69.7% |
2015 | 255,808 | 182,537 | 71.4% |
2014 | 257,673 | 186,477 | 72.4% |
2013 | 260,462 | 192,257 | 73.8% |
2012 | 277,188 | 201,187 | 72.6% |
2011 | 278,854 | 207,330 | 74.4% |
2010 | 291,171 | 212,485 | 73.0% |
2009 | 285,182 | 198,738 | 69.7% |
2008 | 264,272 | 178,533 | 67.6% |
2007 | 264,618 | 173,791 | 65.7% |
2006 | 258,504 | 167,420 | 64.8% |
2005 | 257,761 | 154,411 | 59.9% |
2004 | 253,406 | 157,032 | 62.0% |
2003 | 233,416 | 156,250 | 66.9% |
2002 | 240,863 | 150,526 | 62.5% |
2001 | 217,349 | 148,142 | 68.2% |
2000 | 193,351 | 128,107 | 66.3% |
Table F6: Full-time and Part-time uptake
Source: Ministry of Social Development and Ministry of Education Refer to Figure 6, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Notes:
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Year | Full-time students eligible to borrow | Full-time student borrowing uptake | Full-time uptake rate | Part-time students eligible to borrow | Part-time student borrowing uptake | Part-time uptake rate |
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2020 | 181,580 | 127,583 | 70% | 70,252 | 21,318 | 30.3% |
2019 | 185,467 | 127,921 | 69% | 64,184 | 21,308 | 33.2% |
2018 | 186,119 | 133,863 | 72% | 62,707 | 20,745 | 33.1% |
2017 | 182,438 | 146,550 | 80% | 64,211 | 23,487 | 36.6% |
2016 | 188,566 | 152,561 | 81% | 65,171 | 24,377 | 37.4% |
2015 | 191,102 | 158,417 | 83% | 64,706 | 24,120 | 37.3% |
2014 | 194,704 | 162,850 | 84% | 62,969 | 23,627 | 37.5% |
2013 | 198,543 | 167,666 | 84% | 61,919 | 24,591 | 39.7% |
2012 | 211,135 | 174,187 | 83% | 66,053 | 27,000 | 40.9% |
2011 | 209,665 | 173,398 | 83% | 69,189 | 33,932 | 49.0% |
2010 | 216,482 | 176,314 | 81% | 74,689 | 36,171 | 48.4% |
2009 | 209,867 | 163,368 | 78% | 75,315 | 35,370 | 47.0% |
2008 | 193,328 | 145,491 | 75% | 70,944 | 33,042 | 46.6% |
2007 | 192,456 | 142,031 | 74% | 72,162 | 31,760 | 44.0% |
2006 | 187,706 | 136,483 | 73% | 70,798 | 30,937 | 43.7% |
2005 | 185,379 | 127,055 | 69% | 72,382 | 27,356 | 37.8% |
2004 | 178,601 | 131,407 | 74% | 74,805 | 25,625 | 34.3% |
2003 | 171,994 | 133,791 | 78% | 61,422 | 22,459 | 36.6% |
2002 | 183,735 | 133,559 | 73% | 57,128 | 16,967 | 29.7% |
2001 | 160,387 | 129,391 | 81% | 56,962 | 18,751 | 32.9% |
2000 | 145,308 | 115,839 | 80% | 48,043 | 12,268 | 25.5% |
Table F7: Total amounts drawn by loan component
Source: Ministry of Social Development Refer to Figure 7, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 |
|||
Year | Course Fees | Living Costs | Course-related Costs |
---|---|---|---|
2020 | $870,618,548 | $502,229,689 | $178,776,774 |
2019 | $866,133,763 | $503,732,911 | $93,799,443 |
2018 | $845,089,395 | $497,611,692 | $100,164,688 |
2017 | $1,039,317,480 | $409,671,677 | $108,884,300 |
2016 | $1,060,187,209 | $417,357,647 | $113,909,186 |
2015 | $1,072,996,999 | $420,635,872 | $118,075,657 |
2014 | $1,052,825,086 | $417,261,354 | $120,270,874 |
2013 | $1,056,461,915 | $408,732,069 | $122,112,645 |
2012 | $1,053,553,315 | $381,339,813 | $126,950,781 |
2011 | $1,054,837,497 | $374,626,602 | $140,885,415 |
2010 | $1,007,868,200 | $389,071,488 | $143,280,132 |
2009 | $885,174,215 | $370,949,831 | $123,356,530 |
2008 | $787,834,735 | $344,317,975 | $100,356,596 |
2007 | $736,116,062 | $337,486,444 | $98,226,493 |
2006 | $688,743,663 | $311,270,151 | $98,388,233 |
2005 | $609,842,253 | $282,500,360 | $89,415,201 |
2004 | $589,607,800 | $292,994,326 | $92,390,309 |
2003 | $593,922,339 | $297,737,889 | $95,143,228 |
2002 | $560,550,975 | $281,638,016 | $90,810,508 |
2001 | $551,265,300 | $268,628,200 | $88,177,896 |
2000 | $468,864,957 | $241,736,567 | $65,008,000 |
Table F7.1: Average and median amounts borrowed by component
This table is produced online only
Source: Ministry of Social Development This is a supporting table for Figure 7, Part 1, Page 15 of the Student Loan Scheme Annual Report 2019/20 |
|||||||||||
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Course fees ($) | |||||||||||
Average | 5,076 | 5,441 | 5,571 | 5,850 | 6,074 | 6,323 | 6,453 | 6,558 | 6,662 | 6,853 | 7,013 |
Median | 5,084 | 5,422 | 5,666 | 5,925 | 6,189 | 6,426 | 6,610 | 6,758 | 6,790 | 6,977 | 7,186 |
Living costs ($) | |||||||||||
Average | 3,832 | 3,710 | 3,774 | 3,944 | 4,036 | 4,179 | 4,259 | 4,351 | 5,513 | 5,796 | 5,842 |
Median | 3,851 | 3,537 | 3,599 | 3,800 | 3,958 | 4,250 | 4,460 | 4,643 | 5,983 | 6,460 | 6,421 |
Course-related costs ($) | |||||||||||
Average | 992 | 990 | 988 | 988 | 987 | 988 | 985 | 982 | 981 | 981 | 1,816 |
Median | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 2,000 |
Table T4: Component of lending by sub-sector
Source: Ministry of Social Development. Refer to Table 4, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
||||
2020 | Sub-sector | Number of borrowers |
Borrowing amount million ($) |
Average borrowing ($) |
---|---|---|---|---|
Course fees | University | 81,372 | 620 | 7,623 |
Polytechnic | 29,732 | 152 | 5,124 | |
Wānanga | 1,428 | 6 | 4,077 | |
PTE | 11,611 | 92 | 7,932 | |
Total (StudyLink) | 124,143 | 871 | 7,012 | |
Course-related costs | University | 58,700 | 105 | 1,788 |
Polytechnic | 25,687 | 47 | 1,847 | |
Wānanga | 2,468 | 5 | 1,927 | |
PTE | 11,605 | 22 | 1,863 | |
Total (StudyLink) | 98,460 | 179 | 1,816 | |
Living costs | University | 59,146 | 377 | 6,369 |
Polytechnic | 17,069 | 83 | 4,877 | |
Wānanga | 1,131 | 6 | 5,699 | |
PTE | 8,617 | 39 | 4,543 | |
Total (StudyLink) | 85,962 | 506 | 5,881 | |
Totals | University | 94,310 | 1,102 | 11,684 |
Polytechnic | 35,944 | 283 | 7,874 | |
Wānanga | 2,780 | 17 | 6,123 | |
PTE | 15,866 | 153 | 9,635 | |
Total (StudyLink) | 148,905 | 1,555 | 10,442 |
Table T4.1: Average course fees borrowed by sub-sector
This table is produced online only
Source: Ministry of Social Development This is a supporting table for Table 4, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
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2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | ||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Universities | 3,833 | 3,880 | 3,873 | 3,888 | 4,024 | 4,159 | 4,278 | 4,541 | 4,775 | 4,927 | 5,361 | 5,750 | 6,001 | 6,336 | 6,569 | 6,847 | 7,088 | 7,083 | 7,233 | 7,441 | 7,623 | |||
Institutes of technology and polytechnics | 3,193 | 3,268 | 3,597 | 3,955 | 3,523 | 3,708 | 3,713 | 3,873 | 4,030 | 3,901 | 4,162 | 4,562 | 4,344 | 4,431 | 4,667 | 4,825 | 4,915 | 5,009 | 5,013 | 5,186 | 5,124 | |||
Wānaga | 3,927 | 4,156 | 4,703 | 3,678 | 3,217 | 3,287 | 3,242 | 3,731 | 3,712 | 3,740 | 4,003 | 4,061 | 3,225 | 3,356 | 3,267 | 3,475 | 3,476 | 3,645 | 3,932 | 4,007 | 4,077 | |||
Private training establishments | 5,071 | 5,303 | 5,160 | 5,059 | 5,006 | 5,284 | 5,575 | 5,606 | 5,642 | 5,644 | 5,819 | 6,203 | 6,775 | 7,171 | 7,213 | 7,513 | 7,557 | 7,696 | 7,565 | 7,518 | 7,932 |
Table T4.2: Student loan borrowers by level of qualification and average amount borrowed
This table is produced online only
Source: Ministry of Social Development This is a supporting table for Table 4, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
||||||
Qualification level n= number of borrowers $ avg = average amount borrowed |
2018 | 2019 | 2020 | |||
---|---|---|---|---|---|---|
n | $ avg | n | $ avg | n | $ avg | |
Doctorates | 1,445 | 10,120 | 1,451 | 9,625 | 1,365 | 10,993 |
Masters, honours, postgraduates certificates and postgraduate diplomas | 21,187 | 10,979 | 21,450 | 11,361 | 21,927 | 11,951 |
Bachelors degrees, graduate certificates and graduate diplomas | 93,444 | 10,271 | 91,656 | 10,781 | 91,131 | 11,415 |
Level 5–7 certificates/diplomas | 16,092 | 8,058 | 15,101 | 8,173 | 14,832 | 8,761 |
Level 1–4 certificates | 22,409 | 5,138 | 19,539 | 5,274 | 19,608 | 5,758 |
Other | 31 | 4,011 | 32 | 3,797 | 48 | 4,007 |
Total borrower numbers | 154,608 | 149,229 | 148,905 | |||
Average borrowed for all qualifications | 9,391 | 9,867 | 10,479 |
Table T4.3: Number of students borrowing for living cost and receiving student allowances
This table is produced online only
Source: Ministry of Social Development and Ministry of Education This is a supporting table for Table 4, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Note: The counts in 2020 have been randomly rounded to base 3. |
|||||||||||||||||||
2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Student allowances only | 42,174 | 40,332 | 38,350 | 39,487 | 40,363 | 42,796 | 52,334 | 61,192 | 60,320 | 57,145 | 47,210 | 44,588 | 43,521 | 41,878 | 39,289 | 40,633 | 39,710 | 38,748 | |
Student allowances and living costs | 21,862 | 20,494 | 18,456 | 19,944 | 22,116 | 22,906 | 30,299 | 34,753 | 38,951 | 39,763 | 37,889 | 35,084 | 31,530 | 29,150 | 26,063 | 24,095 | 22,785 | 22,974 | |
Living costs only | 57,785 | 57,396 | 55,580 | 61,315 | 65,059 | 65,944 | 66,930 | 66,776 | 62,020 | 61,285 | 65,741 | 68,310 | 69,122 | 68,845 | 68,098 | 66,172 | 64,122 | 62,988 |
Students are supported through student loans, student allowances or a combination of both. The Student Loan Scheme and the Student Allowance Scheme are interconnected. For the 2020/21 tax year, full-time students could borrow up to $239.76 a week for living costs from the loan scheme, less any student allowances they received. The maximum entitlement is adjusted for inflation on 1 April each year.
In 2020:
- 22,974 students received student allowances and also used the loan scheme for living costs. This was a small increase of 0.8 percent from 2019.
- 38,748 students used a student allowance only. A reduction of 2.4 percent from 2019.
Table T4.4: Student allowances compared with student loan living cost borrowing
This table is produced online only
Source: Ministry of Social Development This is a supporting table for Table 4, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Notes: The counts have been randomly rounded to base 3. |
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2020 | Number of students | Average allowances ($) | Average living costs loan ($) |
Average allowances and living costs loan ($) |
---|---|---|---|---|
Student allowances only | 38,748 | 10,292 | 10,292 | |
Student allowances and living costs loan | 22,974 | 8,238 | 2,725 | 10,963 |
Living costs loan only | 62,988 | 6,980 | 6,980 |
Loan repayment times
Repayment times are influenced by factors such as;
- Government policy on tertiary education and on student loans in particular
- The strength of the labour market
- The type of study undertaken
- Whether a borrower stays in New Zealand or spends long periods overseas
- The amount borrowed
Table T5: Leaving Debt and forecast repayment times
Source: Statistics New Zealand IDI and Ministry of Education Student Loans Integrated Model Refer to Table 5, Part 1, Page 17 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
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N | Leaving debt ($) | Post study repayment time (years) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5th percentile | 10th percentile | 25th percentile | 50th percentile (median) | 75th percentile | 90th percentile | 95th percentile | 5th percentile | 10th percentile | 25th percentile | 50th percentile (median) | 75th percentile | 90th percentile | 95th percentile | |||
All | Level 1-4 certificates | 9,933 | 850 | 1,140 | 4,170 | 9,810 | 20,930 | 36,420 | 47,150 | 0.4 | 0.8 | 2.7 | 7.4 | 17.3 | n | n |
Level 5-7 certificates/diplomas | 5,052 | 1,930 | 3,870 | 8,540 | 18,210 | 35,810 | 57,010 | 71,310 | 0.6 | 1.3 | 3.5 | 7.5 | 13.4 | 25.7 | n | |
Bachelors and graduate certificates / diplomas | 14,661 | 8,560 | 14,900 | 23,390 | 35,510 | 49,680 | 65,310 | 80,330 | 1.8 | 3.2 | 5.5 | 8.6 | 12.7 | 18.6 | 26.0 | |
Postgraduate | 5,367 | 5,040 | 9,470 | 22,240 | 39,530 | 59,670 | 74,390 | 83,260 | 0.6 | 1.3 | 3.8 | 7.1 | 11.2 | 16.1 | 21.3 | |
Male | Level 1-4 certificates | 3,444 | 800 | 1,060 | 3,600 | 8,610 | 18,010 | 32,870 | 44,430 | 0.4 | 0.8 | 2.2 | 6.1 | 13.4 | n | n |
Level 5-7 diplomas | 1,782 | 2,050 | 4,160 | 9,200 | 20,090 | 41,180 | 65,370 | 77,050 | 0.6 | 1.2 | 3.4 | 7.3 | 12.6 | 22.7 | n | |
Bachelors and graduate certificates / diplomas | 5,520 | 9,180 | 16,030 | 24,300 | 37,380 | 51,560 | 67,800 | 84,980 | 1.7 | 3.1 | 5.3 | 8.1 | 12.2 | 17.4 | 23.4 | |
Postgraduate | 2,058 | 6,300 | 12,180 | 29,520 | 46,400 | 63,370 | 77,030 | 83,440 | 0.7 | 1.8 | 4.5 | 7.5 | 11.1 | 15.6 | 20.2 | |
Female | Level 1-4 certificates | 6,489 | 880 | 1,290 | 4,470 | 10,740 | 22,470 | 37,910 | 48,100 | 0.4 | 0.9 | 3.1 | 8.3 | 19.4 | n | n |
Level 5-7 diplomas | 3,270 | 1,840 | 3,660 | 8,200 | 17,270 | 33,550 | 52,550 | 66,370 | 0.7 | 1.4 | 3.6 | 7.6 | 13.8 | 27.4 | n | |
Bachelors and graduate certificates / diplomas | 9,129 | 8,090 | 14,190 | 22,820 | 34,580 | 48,700 | 63,970 | 77,230 | 1.8 | 3.3 | 5.6 | 8.8 | 13.1 | 19.2 | 27.8 | |
Postgraduate | 3,303 | 4,480 | 8,280 | 18,580 | 35,750 | 55,960 | 72,830 | 82,830 | 0.6 | 1.1 | 3.4 | 6.8 | 11.2 | 16.4 | 22.4 |
Table T5.1: Median leaving debt and repayment time by ethnicity and level of study for leavers in 2019
Source: Statistics New Zealand IDI and Ministry of Education Student Loans Integrated Model This is a supporting table for Table 5, Part 1, Page 17 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
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Cert1-4 | CertsDip5-7 | Bachelors | PostGrad | All Levels | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | |
By Ethnicity | |||||||||||||||
European | 9,204 | 6.5 | 9,590 | 5,895 | 7 | 17,380 | 17,142 | 7.9 | 31,300 | 6,126 | 7.1 | 40,070 | 38,370 | 7.4 | 24,320 |
Māori | 8,982 | 10.2 | 10,360 | 2,472 | 8.4 | 15,640 | 4,206 | 8.9 | 27,070 | 1,146 | 7.1 | 35,300 | 16,806 | 9.2 | 15,910 |
Pasifika | 2,763 | 8.5 | 10,310 | 1,110 | 8.6 | 17,410 | 2,868 | 9.2 | 28,360 | 657 | 7.9 | 36,680 | 7,401 | 8.8 | 19,810 |
Asian | 1,050 | 6.5 | 9,840 | 867 | 7.3 | 18,200 | 4,101 | 7.5 | 28,870 | 1,740 | 6.7 | 36,010 | 7,761 | 7.2 | 27,040 |
Table T6: Leaving Debt and Forecast repayment times for borrowers who left study in 2019
Source: Statistics New Zealand IDI and Ministry of Education Student Loans Integrated Model Refer to Table 6, Part 1, Page 18 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
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Repayment times (years) | Leaving debt ($) | |||||||
---|---|---|---|---|---|---|---|---|
N | % of leavers | 25th percentile | median | 75th percentile | 25th percentile | median | 75th percentile | |
All | 63,129 | 100% | 3.9 | 7.7 | 13.4 | 8,950 | 22,300 | 40,620 |
By Gender | ||||||||
Male | 24,012 | 38.0% | 3.6 | 7.2 | 12.2 | 8,700 | 23,010 | 42,720 |
Female | 39,072 | 61.9% | 4.1 | 8.1 | 14.3 | 9,120 | 21,810 | 39,270 |
By level of study | ||||||||
Level 1-4 certificates | 19,125 | 3.0 | 7.9 | 18.6 | 4,200 | 9,950 | 21,170 | |
Level 5-7 certificates/diplomas | 9,342 | 3.4 | 7.4 | 13.9 | 7,850 | 17,100 | 32,900 | |
Bachelors and graduate certficates/diplomas | 25,605 | 4.7 | 8.0 | 12.4 | 17,560 | 29,890 | 46,080 | |
Postgraduate | 9,066 | 3.6 | 7.0 | 11.2 | 19,720 | 37,840 | 58,330 | |
By Ethnicity | ||||||||
European | 38,370 | 3.8 | 7.4 | 12.2 | 9,890 | 24,320 | 43,630 | |
Māori | 16,806 | 4.1 | 9.2 | 19.2 | 6,480 | 15,910 | 31,370 | |
Pasifika | 7,401 | 4.3 | 8.8 | 16.3 | 8,160 | 19,810 | 36,820 | |
Asian | 7,761 | 4.0 | 7.2 | 11.8 | 13,300 | 27,040 | 42,890 | |
By leaving debt band ($000) | ||||||||
<5 | 9,234 | 14.6% | 0.7 | 1.8 | 4.4 | |||
5-10 | 8,217 | 13.0% | 2.0 | 4.2 | 8.2 | |||
10-15 | 6,000 | 9.5% | 3.1 | 5.6 | 10.6 | |||
15-20 | 5,583 | 8.8% | 3.9 | 6.7 | 11.9 | |||
20-25 | 5,481 | 8.7% | 4.8 | 7.3 | 12.2 | |||
25-30 | 4,746 | 7.5% | 5.6 | 8.3 | 13.7 | |||
30-35 | 4,119 | 6.5% | 6.2 | 9.1 | 14.1 | |||
35-40 | 3,537 | 5.6% | 6.8 | 9.7 | 14.7 | |||
40-45 | 3,273 | 5.2% | 7.5 | 10.6 | 15.6 | |||
45-50 | 2,937 | 4.7% | 8.1 | 11.0 | 15.8 | |||
50-55 | 2,106 | 3.3% | 8.6 | 11.6 | 16.6 | |||
55-60 | 1,713 | 2.7% | 9.3 | 12.4 | 17.5 | |||
60-65 | 1,551 | 2.5% | 9.3 | 12.5 | 17.5 | |||
65-70 | 1,116 | 1.8% | 9.8 | 13.2 | 18.9 | |||
>70 | 3,516 | 5.6% | 11.6 | 16.0 | 23.5 | |||
By location | ||||||||
Always NZ based | 54,519 | 86.4% | 3.4 | 7.0 | 12.1 | 8,120 | 20,490 | 38,280 |
Not always NZ based | 8,613 | 13.6% | 8.6 | 13.2 | 22.3 | 19,260 | 34,330 | 51,600 |
Table T6.1: Quartiles of actual and forecast repayment times by level of study
This table is produced online only
Source: Statistics New Zealand IDI and Ministry of Education Student Loans Integrated Model This is a supporting table for Table 6, Part 1, Page 18 of the Student Loan Scheme Annual Report 2020/21 Note: Shown are quartiles of student loan repayment time in years. The data is a mixture of actual repayment performance and projection. |
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Level 1-4 certificates | Level 5-7 certificates/diplomas | Bachelors and graduate certificates/ diplomas | Postgraduate | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Year of last study | 25th percentile | Median | 75th percentile | 25th percentile | Median | 75th percentile | 25th percentile | Median | 75th percentile | 25th percentile | Median | 75th percentile |
2019 | 3.0 | 7.9 | 18.6 | 3.4 | 7.4 | 13.9 | 4.7 | 8.0 | 12.4 | 3.6 | 7.0 | 11.2 |
2018 | 2.8 | 8.1 | 19.1 | 3.3 | 7.7 | 14.5 | 4.5 | 7.8 | 12.1 | 3.1 | 6.7 | 10.8 |
2017 | 2.9 | 8.2 | 19.5 | 3.6 | 8.2 | 15.4 | 4.4 | 8.0 | 12.2 | 2.9 | 7.1 | 11.3 |
2016 | 3.1 | 8.1 | 20.3 | 3.5 | 7.8 | 14.8 | 3.9 | 7.7 | 12.3 | 3.1 | 6.9 | 11.2 |
2015 | 3.1 | 7.9 | 20.8 | 3.5 | 7.4 | 15.1 | 3.9 | 7.4 | 12.3 | 2.6 | 6.1 | 11.4 |
2014 | 2.9 | 7.4 | 21.1 | 3.2 | 7.1 | 14.9 | 3.7 | 6.8 | 12.1 | 2.4 | 5.5 | 10.9 |
2013 | 2.8 | 6.8 | 20.1 | 3.2 | 6.9 | 16.0 | 3.5 | 6.6 | 12.1 | 2.4 | 5.5 | 10.4 |
2012 | 2.8 | 7.0 | 20.7 | 3.0 | 7.0 | 15.6 | 3.4 | 6.6 | 12.0 | 2.4 | 5.4 | 10.1 |
2011 | 3.0 | 7.7 | 24.5 | 2.9 | 6.8 | 15.4 | 2.8 | 6.0 | 11.5 | 1.6 | 4.7 | 9.0 |
2010 | 3.1 | 7.4 | 23.4 | 2.9 | 6.6 | 15.8 | 2.6 | 5.9 | 11.5 | 1.7 | 4.7 | 9.5 |
2009 | 3.2 | 7.6 | 24.5 | 2.9 | 6.6 | 15.8 | 2.7 | 6.1 | 11.5 | 1.8 | 4.5 | 9.5 |
2008 | 3.1 | 7.6 | 27.1 | 2.7 | 6.3 | 14.0 | 2.7 | 5.8 | 11.6 | 1.9 | 4.6 | 8.9 |
2007 | 3.0 | 7.5 | 24.4 | 2.6 | 6.6 | 15.0 | 2.7 | 5.9 | 11.9 | 1.9 | 4.7 | 9.3 |
2006 | 2.9 | 7.4 | 21.5 | 2.6 | 6.6 | 14.7 | 2.9 | 6.2 | 12.4 | 2.1 | 5.0 | 9.4 |
2005 | 2.9 | 7.3 | 19.7 | 2.7 | 6.7 | 14.9 | 3.0 | 6.6 | 12.6 | 2.5 | 5.7 | 10.6 |
2004 | 2.9 | 7.5 | 20.0 | 2.5 | 6.5 | 15.1 | 2.3 | 6.1 | 12.1 | 1.5 | 4.8 | 10.2 |
Repayment performance
Borrowers and balances
As at 30 June 2021, there were 679,947 student loan borrowers, compared with 692,486 at the same time last year, a reduction of 1.8 percent. Borrowers by age group shows the largest group of borrowers are in their early twenties as they are most likely still studying or entering the workforce. Borrowers travelling overseas tend to do so once they finish study therefore show an increase from their mid to late twenties.
Table T7: Overview of student loan at 30 June 2021 and the preceding three years
Source: Inland Revenue Refer to Tables 7, 8 and 9, Part 1, Page 19 of the Student Loan Scheme Annual Report 2020/21 |
||||
2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|
New Zealand-based borrowers | ||||
Number of borrowers | 610,832 | 599,678 | 584,212 | 575,486 |
Nominal balance ($m) | 12,550 | 12,607 | 12,611 | 12,835 |
Median loan ($) | 15,064 | 15,101 | 15,585 | 15,838 |
Average loan ($) | 20,546 | 21,024 | 21,697 | 22,316 |
Overseas-based borrowers | ||||
Number of borrowers | 108,355 | 108,840 | 108,274 | 104,461 |
Nominal balance ($m) | 3,318 | 3,426 | 3,524 | 3,425 |
Median loan ($) | 21,924 | 22,448 | 23,366 | 22,223 |
Average loan ($) | 30,624 | 31,481 | 32,528 | 32,715 |
All borrowers summary | ||||
Number of borrowers | 719,187 | 708,518 | 692,486 | 679,947 |
Nominal balance ($m) | 15,869 | 16,034 | 16,135 | 16,261 |
Median loan ($) | 15,938 | 16,125 | 16,422 | 17,154 |
Average loan ($) | 22,065 | 22,630 | 23,307 | 23,915 |
Table F9: Number of Borrowers and Nominal Balance
Source: Inland Revenue Refer to Figure 9, Part 1, Page 20 of the Student Loan Scheme Annual Report 2020/21 |
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Number of Borrowers | Nominal Balance ($ million) | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Year | All borrowers | NZB | OBB | Overall # change | Overall % change | All borrowers | NZB | OBB | Overall $m increase | Overall % change |
2021 | 679,947 | 575,486 | 104,461 | -12,539 | -1.8% | 16,261 | 12,835 | 3,425 | 126 | 0.8% |
2020 | 692,486 | 584,212 | 108,274 | -16,032 | -2.3% | 16,135 | 12,611 | 3,524 | 101 | 0.6% |
2019 | 708,518 | 599,678 | 108,840 | -10,669 | -1.5% | 16,034 | 12,607 | 3,426 | 165 | 1.0% |
2018 | 719,187 | 610,832 | 108,355 | -13,786 | -1.9% | 15,869 | 12,550 | 3,318 | 134 | 0.9% |
2017 | 732,973 | 622,479 | 110,494 | 1,219 | 0.2% | 15,735 | 12,431 | 3,304 | 395 | 2.6% |
2016 | 731,754 | 621,015 | 110,739 | 3,406 | 0.5% | 15,340 | 12,094 | 3,246 | 503 | 3.4% |
2015 | 728,348 | 617,754 | 110,594 | 6,911 | 1.0% | 14,837 | 11,680 | 3,157 | 602 | 4.2% |
2014 | 721,437 | 611,960 | 109,477 | 10,469 | 1.5% | 14,235 | 11,199 | 3,036 | 673 | 5.0% |
2013 | 710,968 | 603,965 | 107,003 | 9,736 | 1.4% | 13,562 | 10,678 | 2,884 | 593 | 4.6% |
2012 | 701,232 | 600,137 | 101,095 | 80,074 | 12.9% | 12,969 | 10,299 | 2,670 | 899 | 7.4% |
2011 | 621,158 | 529,434 | 91,724 | 33,659 | 5.7% | 12,070 | 8,402 | 2,329 | 925 | 8.3% |
2010 | 587,499 | 502,362 | 85,137 | 11,145 | 7,743 | 2,087 |
Table F9.1: Age range of borrower groups
This table is produced online only
Source: Inland Revenue This is a supporting table to Figure 9, Part 1, Page 20 of the Student Loan Scheme Annual Report 2020/21 |
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Age group | All Borrowers | Age group | NZ-based borrowers only | Age group | Overseas-based borrower only | ||||
---|---|---|---|---|---|---|---|---|---|
Under 18 | 232 | Under 18 | 232 | Under 18 | 0 | ||||
18 | 3,893 | 18 | 3,892 | 18 | 1 | ||||
19 | 14,349 | 19 | 14,331 | 19 | 18 | ||||
20 | 22,061 | 20 | 21,990 | 20 | 71 | ||||
21 | 26,416 | 21 | 26,253 | 21 | 163 | ||||
22 | 28,405 | 22 | 28,023 | 22 | 382 | ||||
23 | 30,366 | 23 | 29,668 | 23 | 698 | ||||
24 | 31,355 | 24 | 30,119 | 24 | 1,236 | ||||
25 | 30,753 | 25 | 28,949 | 25 | 1,804 | ||||
26 | 30,240 | 26 | 27,969 | 26 | 2,271 | ||||
27 | 29,113 | 27 | 26,304 | 27 | 2,809 | ||||
28 | 28,219 | 28 | 24,875 | 28 | 3,344 | ||||
29 | 26,816 | 29 | 23,019 | 29 | 3,797 | ||||
30 | 25,954 | 30 | 21,816 | 30 | 4,138 | ||||
31 | 24,110 | 31 | 19,840 | 31 | 4,270 | ||||
32 | 21,816 | 32 | 17,679 | 32 | 4,137 | ||||
33 | 20,215 | 33 | 16,240 | 33 | 3,975 | ||||
34 | 18,330 | 34 | 14,653 | 34 | 3,677 | ||||
35 | 16,821 | 35 | 13,216 | 35 | 3,605 | ||||
36 | 15,588 | 36 | 12,142 | 36 | 3,446 | ||||
37 | 15,148 | 37 | 11,629 | 37 | 3,519 | ||||
38 | 14,575 | 38 | 10,886 | 38 | 3,689 | ||||
39 | 14,057 | 39 | 10,387 | 39 | 3,670 | ||||
40 | 13,417 | 40 | 9,826 | 40 | 3,591 | ||||
41 | 12,499 | 41 | 8,993 | 41 | 3,506 | ||||
42 | 12,371 | 42 | 8,903 | 42 | 3,468 | ||||
43 | 11,763 | 43 | 8,320 | 43 | 3,443 | ||||
44 | 11,141 | 44 | 7,831 | 44 | 3,310 | ||||
45 | 10,427 | 45 | 7,253 | 45 | 3,174 | ||||
46 | 9,924 | 46 | 6,929 | 46 | 2,995 | ||||
47 | 9,312 | 47 | 6,519 | 47 | 2,793 | ||||
48 | 8,456 | 48 | 6,043 | 48 | 2,413 | ||||
49 | 7,893 | 49 | 5,820 | 49 | 2,073 | ||||
50 | 7,088 | 50 | 5,300 | 50 | 1,788 | ||||
51 | 6,331 | 51 | 4,760 | 51 | 1,571 | ||||
52 | 5,843 | 52 | 4,427 | 52 | 1,416 | ||||
53 | 5,446 | 53 | 4,120 | 53 | 1,326 | ||||
54 | 5,050 | 54 | 3,857 | 54 | 1,193 | ||||
55 | 4,514 | 55 | 3,509 | 55 | 1,005 | ||||
56 | 4,442 | 56 | 3,387 | 56 | 1,055 | ||||
57 | 4,015 | 57 | 3,095 | 57 | 920 | ||||
58 | 4,054 | 58 | 3,128 | 58 | 926 | ||||
59 | 3,763 | 59 | 2,938 | 59 | 825 | ||||
60 | 3,292 | 60 | 2,551 | 60 | 741 | ||||
61 | 2,993 | 61 | 2,352 | 61 | 641 | ||||
62 | 2,589 | 62 | 2,112 | 62 | 477 | ||||
63 | 2,359 | 63 | 1,877 | 63 | 482 | ||||
64 | 2,191 | 64 | 1,764 | 64 | 427 | ||||
65+ | 19,942 | 65+ | 15,760 | 65+ | 4,182 | ||||
Grand Total | 679,947 | Total | 575,486 | Total | 104,461 |
Table F9.2: Average and Median Loan Balances as at 30 June
This table is produced online only
Source: Inland Revenue This is a supporting table to Figure 9, Part 1, Page 20 of the Student Loan Scheme Annual Report 2020/21 |
||
Year | Average ($) | Median ($) |
---|---|---|
2021 | 23,915 | 17,154 |
2020 | 23,307 | 16,422 |
2019 | 22,630 | 16,125 |
2018 | 22,065 | 15,938 |
2017 | 21,467 | 15,271 |
2016 | 20,963 | 14,904 |
2015 | 20,371 | 14,421 |
2014 | 19,731 | 13,882 |
2013 | 19,076 | 13,307 |
2012 | 18,494 | 12,849 |
2011 | 17,276 | 11,880 |
2010 | 16,731 | 11,399 |
2009 | 16,213 | 11,090 |
2008 | 16,129 | 10,883 |
The borrower base – 679,974 borrowers, owe a total nominal balance of $16,216m. The range and distribution of loan balances shows overseas-based borrowers continue to have higher average loan balances than New Zealand-based borrowers because of interest and (often) late payment interest charges to their loan accounts. The most frequent range being between $10,000 and $15,000. The supporting table shows at the end of June 2021;
- 54 percent of overseas-based borrows have loan balances over $20,000 compared with 42 percent of New Zealand-based borrowers
- 20 percent of overseas-based borrowers have loans over $50,000 compared to 10 percent of New Zealand-based borrowers.
Table F10: Range and Distribution of loan balances at 30 June
Source: Inland Revenue Refer to Figure 10, Part 1, Page 20 of the Student Loan Scheme Annual Report 2019/20 |
|||||
Balance range | NZB | OBB | All borrowers | NZB | OBB |
---|---|---|---|---|---|
$1 - 1,999 | 43,256 | 3,956 | 47,212 | 7.5% | 3.8% |
$2,000 - 3,999 | 42,088 | 4,526 | 46,614 | 7.3% | 4.3% |
$4,000 - 5,999 | 43,881 | 5,079 | 48,960 | 7.6% | 4.9% |
$6,000 - 7,999 | 38,736 | 5,295 | 44,031 | 6.7% | 5.1% |
$8,000 - 9,999 | 36,220 | 5,418 | 41,638 | 6.3% | 5.2% |
$10,000 - 14,999 | 71,562 | 12,983 | 84,545 | 12.4% | 12.4% |
$15,000 - 19,999 | 58,063 | 10,638 | 68,701 | 10.1% | 10.2% |
$20,000 - 24,999 | 49,635 | 9,065 | 58,700 | 8.6% | 8.7% |
$25,000 - 29,999 | 38,459 | 7,670 | 46,129 | 6.7% | 7.3% |
$30,000 - 34,999 | 31,254 | 6,208 | 37,462 | 5.4% | 5.9% |
$35,000 - 39,999 | 26,233 | 5,119 | 31,352 | 4.6% | 4.9% |
$40,000 - 44,999 | 21,325 | 4,255 | 25,580 | 3.7% | 4.1% |
$45,000 - 49,999 | 16,184 | 3,389 | 19,573 | 2.8% | 3.2% |
$50,000 - 54,999 | 12,641 | 2,868 | 15,509 | 2.2% | 2.7% |
$55,000 - 59,999 | 10,352 | 2,627 | 12,979 | 1.8% | 2.5% |
$60,000 - 79,999 | 22,514 | 6,657 | 29,171 | 3.9% | 6.4% |
$80,000 - 99,999 | 8,053 | 3,490 | 11,543 | 1.4% | 3.3% |
$100,000 - 119,999 | 2,850 | 2,068 | 4,918 | 0.5% | 2.0% |
$120,000 - 139,999 | 1,312 | 1,252 | 2,564 | 0.2% | 1.2% |
> $139,999 | 868 | 1,898 | 2,766 | 0.2% | 1.8% |
Total | 575,486 | 104,461 | 679,947 | 100% | 100% |
Borrower segments
The comparison of both New Zealand-based and overseas-based borrowers by activity uses the following activity segments:
- Borrowing – those who are currently borrowing from the scheme
- Borrowing and repaying – those who are borrowing but their income is above the repayment threshold so they are repaying previously drawn loans or making voluntary repayments
- Repaying – those who have completed study and are repaying their loans
- Inactive participants – those who have a positive loan balance but did not interact with the scheme in the last financial year
Table F9.3: Borrower numbers by activity
This table is produced online only
Source: Inland Revenue This is a supporting table to Part 1 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
|||
2019/20 | 2020/21 | ||
---|---|---|---|
New Zealand-based borrowers | Borrowing | 64,795 | 55,014 |
Borrowing and repaying | 91,075 | 113,606 | |
Repaying | 272,785 | 268,029 | |
Inactive | 155,412 | 135,780 | |
Overseas-based borrowers | Borrowing | 345 | 237 |
Borrowing and repaying | 821 | 628 | |
Repaying | 48,633 | 40,829 | |
Inactive | 58,384 | 62,689 | |
Total | 692,250 | 676,812 |
Loan repayments
Overall loan repayments have continued to increase. However, repayments through the PAYE system show a decrease of 2.3% ($25m).
Table 10.1 Loan repayments direct from borrowers shows a breakdown of payments directly from New Zealand-based and overseas-based borrowers.
Table T10: Loan Repayments
Source: Inland Revenue Refer to Table 10, Part 1, Page 21 of the Student Loan Scheme Annual Report 2020/21 Note:
|
||||
Repayments | 2018/19 | 2019/20 | 2020/21 | |
---|---|---|---|---|
$ million | ||||
PAYE | 996.2 | 1,092.8 | 1,067.8 | |
From borrower | 374.5 | 384.4 | 427.0 | |
Total | 1,370.7 | 1,477.3 | 1,494.7 | |
Annual % change | ||||
PAYE | 3.7% | 9.7% | -2.3% | |
From borrower | -3.3% | 2.6% | 11.1% | |
Total | 1.7% | 7.8% | 1.2% |
Table T10.1: Loan Repayments directly from borrowers
This table is produced online only
Source: Inland Revenue This is a supporting table for Table 10, Part 1, Page 21 of the Student Loan Scheme Annual Report 2020/21 |
||||
2017/18 | 2018/19 | 2019/20 | 2020/21 | |
---|---|---|---|---|
New Zealand-based | ||||
$million | 166.1 | 168.2 | 172.8 | 229.3 |
Annual % change | 2.2% | 1.3% | 2.7% | 32.7% |
Overseas-based | ||||
$million | 221.3 | 206.3 | 211.6 | 197.7 |
Annual % change | 3.0% | -6.8% | 2.6% | -6.6% |
Total | ||||
$million | 387.4 | 374.5 | 384.4 | 427.0 |
Annual % change | 2.6% | -3.3% | 2.6% | 11.1% |
Overdue repayments
Student loan repayments become overdue when borrowers do not meet their repayment obligation by the due date. Overall, the number of borrowers with overdue repayments reduced slightly in 2021. The total amount overdue increased by 8.9 percent on the previous year.
Table T11: Overdue repayments as at 30 June
Source: Inland Revenue Refer to Table 11, Part 1, Page 22 of the Student Loan Scheme Annual Report 2020/21 |
|||||
Overdue repayments | 2018 | 2019 | 2020 | 2021 | % Change 2020-21 |
---|---|---|---|---|---|
New Zealand-based | |||||
Overdue amount ($m) | 116.2 | 131.9 | 133.1 | 140.9 | 5.9% |
No. of borrowers | 26,021 | 28,221 | 29,389 | 26,962 | -8.3% |
Average amount outstanding ($) | 4,466.0 | 4,673.2 | 4,527.4 | 5,227.3 | 15.5% |
Overseas-based | |||||
Overdue amount ($m) | 1,205.2 | 1,349.2 | 1,446.2 | 1,579.6 | 9.2% |
No. of borrowers | 75,375 | 75,882 | 74,215 | 75,965 | 2.4% |
Average amount outstanding ($) | 15,990.0 | 17,779.6 | 19,486.1 | 20,793.9 | 6.7% |
Total/overall | |||||
Overdue amount ($m) | 1,321.5 | 1,481.0 | 1,579.2 | 1,720.5 | 8.9% |
No. of borrowers | 101,396 | 104,103 | 103,604 | 102,927 | -0.7% |
Average amount outstanding ($) | 13,032.6 | 14,226.8 | 15,242.8 | 16,716.2 | 9.7% |
Table T12: Age and location of overdue repayments at 30 June
Source: Inland Revenue Refer to Table 12, Part 1, Page 22 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
||||||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Age of overdue repayments |
$ million | % | $ million | % | $ million | % | $ million | % | $ million | % | $ million | % |
New Zealand-based Borrowers | ||||||||||||
0-1 month | 5.3 | 5.8% | 3.6 | 3.6% | 4.9 | 4.3% | 4.5 | 3.4% | 1.0 | 0.7% | 0.1 | 0.1% |
2-3 months | 12.9 | 14.1% | 12.4 | 12.4% | 13.1 | 11.3% | 13.2 | 10.0% | 10.4 | 7.8% | 7.2 | 5.1% |
4-6 months | 3.9 | 4.3% | 3.9 | 3.9% | 4.4 | 3.8% | 4.6 | 3.5% | 4.6 | 3.5% | 4.2 | 3.0% |
7-12 months | 4.1 | 4.5% | 4.4 | 4.4% | 4.0 | 3.5% | 5.4 | 4.1% | 1.9 | 1.4% | 1.3 | 0.9% |
1-2 years | 13.5 | 14.8% | 14.6 | 14.7% | 15.4 | 13.3% | 15.1 | 11.4% | 17.7 | 13.3% | 16.0 | 11.4% |
2-5 years | 20.0 | 22.0% | 26.5 | 26.6% | 34.4 | 29.6% | 39.7 | 30.1% | 39.4 | 29.6% | 40.8 | 28.9% |
>5 years | 31.4 | 34.5% | 34.0 | 34.2% | 40.0 | 34.4% | 49.4 | 37.5% | 58.1 | 43.7% | 71.4 | 50.6% |
Total | 91.2 | 100.0% | 99.3 | 100.0% | 116.2 | 100.0% | 131.9 | 100.0% | 133.1 | 100.0% | 140.9 | 100.0% |
Overseas-based Borrowers | ||||||||||||
0-1 month | 3.9 | 0.4% | 3.1 | 0.3% | 3.5 | 0.3% | 2.7 | 0.2% | 0.4 | 0.0% | 0.1 | 0.0% |
2-3 months | 155.9 | 15.9% | 154.7 | 14.0% | 148.7 | 12.3% | 142.9 | 10.6% | 72.0 | 5.0% | 67.3 | 4.3% |
4-6 months | 5.3 | 0.5% | 3.3 | 0.3% | 4.8 | 0.4% | 2.5 | 0.2% | 2.0 | 0.1% | 0.2 | 0.0% |
7-12 months | 7.9 | 0.8% | 9.1 | 0.8% | 6.3 | 0.5% | 16.9 | 1.3% | 65.1 | 4.5% | 63.1 | 4.0% |
1-2 years | 153.3 | 15.6% | 152.9 | 13.8% | 148.5 | 12.3% | 148.3 | 11.0% | 131.6 | 9.1% | 127.7 | 8.1% |
2-5 years | 310.7 | 31.6% | 356.4 | 32.2% | 385.4 | 32.0% | 411.3 | 30.5% | 405.4 | 28.0% | 401.6 | 25.4% |
>5 years | 345.7 | 35.2% | 427.8 | 38.6% | 508.0 | 42.1% | 624.5 | 46.3% | 769.8 | 53.2% | 919.7 | 58.2% |
Total | 982.6 | 100.0% | 1,107.3 | 100.0% | 1,205.2 | 100.0% | 1,349.1 | 100.0% | 1,446.2 | 100.0% | 1,579.6 | 100.0% |
Table F11: Number of loans fully repaid at 30 June
Source: Inland Revenue Refer to Figure 11, Part 1, Page 23 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
|
Year | Loans repaid |
---|---|
2021 | 51,712 |
2020 | 59,189 |
2019 | 45,205 |
2018 | 48,235 |
2017 | 42,465 |
2016 | 43,100 |
2015 | 41,134 |
2014 | 39,544 |
2013 | 42,290 |
2012 | 34,141 |
2011 | 32,133 |
2010 | 30,598 |
2009 | 28,625 |
2008 | 25,092 |
2007 | 21,704 |
Table T13: Write-off due to death, bankruptcy or fraud
Source: Inland Revenue Refer to Table 13, Part 1, Page 23 of the Student Loan Scheme Annual Report 2020/21 Note: In April 2020, new legislation was introduced to allow for loans taken out prior to 2000 to be written off if identity theft loans taken out prior to 2000 to be written off if identity theft has occurred and the correct borrower cannot be identified |
||||
Write-offs | 2017/18 | 2018/19 | 2019/20 | 2020/21 |
---|---|---|---|---|
$ million | ||||
Bankruptcy | 32.2 | 23.6 | 13.6 | 3.9 |
Death | 31.1 | 25.7 | 30.8 | 37.3 |
Fraud | 0.26 | 0.03 | ||
Number of cases | ||||
Bankruptcy | 827 | 835 | 1,054 | 103 |
Death | 2,605 | 1,803 | 1,898 | 2,633 |
Fraud | <5 | <5 |
Student Loan Funding
The annual net cash cost is the difference between the amount lent and the repayments received. Historically the government has lent more than it receives back. However, over the last four years, repayments have exceeded lending. Over the 2020/21 financial year $1,422 million in cash was lent to students and $1,495 million was received in repayments meaning that there was a cash surplus of $73 million.
Table F12: Movement in the fair value due to impairment and discount rate changes over the last six years
Source: Ministry of Education Refer to Figure 12, Part 2, Page 26 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
||||||
At 30 June | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
---|---|---|---|---|---|---|
$ million | ||||||
Impairment | -89 | 45 | 103 | 211 | -476 | 488 |
Discount rate | 408 | -140 | 190 | 734 | 343 | 220 |
Table F13: Lending and initial write down on this lending
Source: Ministry of Education Refer to Figure 13, Part 2, Page 27 of the Student Loan Scheme Annual Report 2020/21 |
||||||||||||||||
2005/06 | 2006/07 | 2007/08 | 2008/09 | 2009/10 | 2010/11 | 2011/12 | 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | 2020/21 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$ million | ||||||||||||||||
New lending (including establishment fee) | 989 | 1,116 | 1,131 | 1,269 | 1,434 | 1,465 | 1,489 | 1,481 | 1,522 | 1,529 | 1,522 | 1,485 | 1,337 | 1,360 | 1,413 | 1,431 |
Initial write-down on new borrowing | 328 | 488 | 487 | 532 | 728 | 713 | 702 | 536 | 629 | 602 | 659 | 662 | 594 | 563 | 506 | 469 |
Average cost of lending in cents per dollar | 33.16 | 43.73 | 43.06 | 41.92 | 50.77 | 48.67 | 47.15 | 36.19 | 41.33 | 39.37 | 43.30 | 44.58 | 44.43 | 41.40 | 35.82 | 32.75 |
Table F13.1: Cost of lending in cents per dollar lent in half years
This table is produced online only
Source: Ministry of Education This is a supporting table for Figure 13, Part 2, Page 27 of the Student Loan Scheme Annual Report 2020/21 |
|||||||||||||||||||||||||||
2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec | Jan-Jun | Jul-Dec |
40.25 | 39.15 | 39.15 | 47.39 | 47.39 | 45.25 | 45.25 | 44.62 | 44.62 | 39.09 | 35.19 | 40.02 | 41.83 | 44.99 | 37.39 | 43.29 | 43.32 | 46.90 | 43.76 | 44.53 | 44.40 | 44.53 | 40.18 | 38.59 | 34.76 | 35.41 | 31.64 | ** |
Table F14: Lending and Repayments
Source: Ministry of Education Refer to Figure 14, Part 2, Page 28 of the Student Loan Scheme Annual Report 2020/21 |
||||||||||||||||
2005/06 | 2006/07 | 2007/08 | 2008/09 | 2009/10 | 2010/11 | 2011/12 | 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | 2020/21 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$ million | ||||||||||||||||
New lending | 981 | 1107 | 1122 | 1259 | 1423 | 1453 | 1477 | 1470 | 1511 | 1518 | 1512 | 1475 | 1328 | 1351 | 1404 | 1422 |
Repayment | -486 | -486 | -550 | -619 | -652 | -691 | -767 | -1054 | -1032 | -1114 | -1209 | -1273 | -1348 | -1371 | -1477 | -1495 |
Net cash out | 495 | 621 | 572 | 640 | 771 | 762 | 710 | 416 | 479 | 404 | 303 | 202 | -20 | -20 | -73 | -73 |
Table T14: Government’s cost of ownership of the Student Loan Scheme
Source: Ministry of Education Refer to Table 14, Part 2, Page 28 of the Student Loan Scheme Annual Report 2020/21 |
|||
Fair value of the asset | $10,841 million | ||
---|---|---|---|
Discount rate for the asset | 3.95% | ||
Cost of capital associated with the Student Loan Scheme | $428 million for the financial year of 2021/22 |
Table T15: Student Loan Scheme administration costs
Source: Ministry of Social Development, Inland Revenue, Ministry of Education and Statistics New Zealand. Refer to Table 15, Part 2, Page 29 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
|||||||||||
2010/11 | 2011/12 | 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | 2020/21 | |
---|---|---|---|---|---|---|---|---|---|---|---|
$ millions | |||||||||||
Ministry of Social Development | 17.0 | 16.4 | 15.8 | 16.2 | 13.4 | 15.0 | 15.1 | 16.5 | 16.8 | 18.0 | 22.7 |
Inland Revenue | 39.3 | 31.5 | 30.2 | 33.5 | 32.1 | 32.5 | 31.2 | 29.2 | 30.2 | 31.7 | 28.8 |
Ministry of Education | 0.8 | 0.8 | 0.9 | 0.7 | 0.7 | 0.8 | 0.8 | 0.9 | 0.8 | 1.0 | 0.9 |
Statistics New Zealand | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.9 | 0.9 | 1.0 |
Gross agency cost | 57.8 | 49.4 | 47.6 | 51.1 | 46.9 | 49.0 | 47.8 | 47.4 | 48.7 | 51.6 | 53.4 |
Table T16: Nominal and Carrying Value Movements
Source: Ministry of Education and Inland Revenue Refer to Table 16, Part 2, Page 30 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
||||||||||||||||||
2005/06 | 2006/07 | 2007/08 | 2008/09 | 2009/10 | 2010/11 | 2011/12 | 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | 2020/21 | |||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Notes | $ million | |||||||||||||||||
Nominal value | ||||||||||||||||||
Opening balance | 1 | 7,499 | 8,370 | 8,920 | 9,573 | 10,259 | 11,145 | 12,070 | 12,969 | 13,562 | 14,235 | 14,837 | 15,340 | 15,735 | 15,869 | 16,034 | 16,134 | |
New lending | 8 | 981 | 1,107 | 1,122 | 1,259 | 1,423 | 1,453 | 1,477 | 1,470 | 1,511 | 1,518 | 1,512 | 1,475 | 1,328 | 1,351 | 1,404 | 1,422 | |
Establishment fee | 4 | 8 | 9 | 9 | 10 | 11 | 12 | 12 | 11 | 11 | 11 | 10 | 10 | 9 | 9 | 9 | 9 | |
Administration fee | 5 | 20 | 21 | 22 | 22 | 23 | 23 | 23 | 23 | 24 | 22 | |||||||
Repayment | 8 | -486 | -486 | -550 | -619 | -652 | -691 | -767 | -1,054 | -1,032 | -1,114 | -1,209 | -1,273 | -1,348 | -1,371 | -1,477 | -1,495 | |
Interest | 2, 7 | 14 | 119 | 142 | 133 | 156 | 151 | 141 | 135 | 120 | 111 | 110 | 87 | 93 | ||||
Penalties | 2 | 42 | 16 | 45 | 50 | 43 | 49 | 58 | 64 | 72 | 74 | 92 | 98 | 116 | ||||
Voluntary Repayment Bonus | 0 | -5 | -17 | -16 | -32 | -14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Death Write-off | -4 | -2 | -10 | -9 | -11 | -9 | -10 | -13 | -9 | -19 | -15 | -13 | -31 | -26 | -31 | -37 | ||
Bankruptcy write-off | -11 | -9 | -16 | -11 | -15 | -10 | -12 | -9 | -15 | -16 | -18 | -20 | -32 | -24 | -14 | -4 | ||
Balancing item | 6 | 384 | -68 | 98 | 12 | |||||||||||||
Closing balance | 8,370 | 8,920 | 9,573 | 10,259 | 11,145 | 12,070 | 12,969 | 13,562 | 14,235 | 14,837 | 15,340 | 15,735 | 15,869 | 16,034 | 16,134 | 16,260 | ||
Carrying value | ||||||||||||||||||
Opening balance | 10 | 6,465 | 5,569 | 6,011 | 6,741 | 6,553 | 6,790 | 7,459 | 8,291 | 8,288 | 8,716 | 8,864 | 8,982 | 9,197 | 9,929 | 10,731 | 10,395 | |
New lending | 8 | 981 | 1,107 | 1,122 | 1,259 | 1,423 | 1,453 | 1,477 | 1,470 | 1,511 | 1,518 | 1,512 | 1,475 | 1,328 | 1,351 | 1,404 | 1,422 | |
Initial write-down on new borrowing | 9 | -328 | -488 | -487 | -532 | -728 | -713 | -702 | -536 | -629 | -602 | -659 | -662 | -594 | -563 | -506 | -469 | |
Initial write-down | -1,415 | |||||||||||||||||
Establishment fee | 8 | 9 | 9 | 10 | 11 | 12 | 12 | 11 | 11 | 11 | 10 | 10 | 9 | 9 | 9 | 9 | ||
Repayment | -486 | -486 | -550 | -619 | -652 | -691 | -767 | -1,054 | -1,032 | -1,114 | -1,209 | -1,273 | -1,348 | -1,371 | -1,477 | -1,495 | ||
Interest unwind | 358 | 451 | 406 | 473 | 463 | 484 | 526 | 590 | 579 | 604 | 603 | 602 | 604 | 394 | 331 | 235 | ||
Impairment | -13 | -151 | 231 | -779 | -280 | 124 | 286 | -484 | -12 | -269 | -140 | 62 | 106 | 211 | -476 | 488 | ||
Repayment collection allowance | 36 | 36 | 37 | |||||||||||||||
Discount rate changes | 734 | 343 | 220 | |||||||||||||||
Closing carrying value | 5,569 | 6,011 | 6,741 | 6,553 | 6,790 | 7,459 | 8,291 | 8,288 | 8,716 | 8,864 | 8,982 | 9,197 | 9,302 | 10,731 | 10,395 | 10,841 | ||
Average cost of lending in cents per dollar (headline) | ||||||||||||||||||
31.17 | 41.15 | 40.25 | 39.15 | 47.39 | 45.25 | 44.62 | 36.19 | 41.35 | 39.35 | 43.31 | 44.56 | 44.43 | 41.40 | 35.82 | 32.75 |
Table T16.1: History of repayment thresholds and interest rates
This table is produced online only
Source: Ministry of Education This is a supporting table for Part 2 of the Student Loan Scheme Annual Report 2020/21 Notes:
|
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For the year ending 31 March | Interest Rate | Domestic Repayment Threshold ($ per year) |
---|---|---|
1993 | 8.2% | 12,670 |
1994 | 7.2% | 13,104 |
1995 | 7.0% | 13,520 |
1996 | 9.0% | 13,884 |
1997 | 8.4% | 14,300 |
1998 | 8.2% | 14,560 |
1999 | 8.0% | 14,716 |
2000 | 7.0% | 14,716 |
2001 | 7.0% | 14,768 |
2002 | 7.0% | 15,132 |
2003 | 7.0% | 15,496 |
2004 | 7.0% | 15,964 |
2005 | 7.0% | 16,172 |
2006 | 7.0% | 16,588 |
2007 | 6.9% | 17,160 |
2008 | 6.8% | 17,784 |
2009 | 6.7% | 18,148 |
2010 | 6.8% | 19,084 |
2011 | 6.6% | 19,084 |
2012 | 6.4% | 19,084 |
2013 | 6.4% | 19,084 |
2014 | 5.9% | 19,084 |
2015 | 5.5% | 19,084 |
2016 | 5.3% | 19,084 |
2017 | 4.8% | 19,084 |
2018 | 4.4% | 19,136 |
2019 | 4.3% | 19,448 |
2020 | 4.0% | 19,760 |
2021 | 3.5% | 20,020 |
2022 | 3.0% | 20,280 |
2023 | 21,268 |
Student allowancesUpdated: Jul-2022
Statistics relating to the number and types of students receiving Student Allowances, and the amounts received.
- Student allowances 2021 [MS Excel 249kB]