Financial Support for Tertiary Students

The latest statistics relating to financial support for students including student loans, allowances and scholarships.

Shared cost of tertiary education

The Student Loan Scheme aims to enable a wide range of people to access tertiary education, gaining knowledge and skills that enhance the economic and social wellbeing of New Zealand. Sharing the cost of tertiary education helps support more people into tertiary study so they can invest in their future.

Table T1: Funding of tertiary education

Table T1: Funding of tertiary education
Government expenditure		2018/19	2019/20	2020/21
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: Tuition subsidies are represented by the Student Achievement Component. Fees Free represents the amount spent on paying tuition fees for Fees Free eligible learners via first year fees free policy and the Targeted Training and Apprenticeship Fund (a new funding commitment for 2020/21). Some funding to workplace-based learners is included in this appropriation. HAFL represents the Hardship Fund for Learners and TAFL represents the Technology Access Fund for Learners. The following items of expenditure are not covered: industry training, community education, scholarships, Youth Guarantee, centres of research excellence, administration of tertiary education, Performance-Based Research Fund, and capital expenditure. PBRF figures are not included in this table as in previous Student Loan Scheme Annual Reports as the table has been re-focussed to reflect more direct support for managing the costs of tertiary education for students. To allow better comparisons between years, tuition and training expenditure in 2019/20 excludes the accounting impact of the government guaranteeing funding for providers in 2020 as a result of COVID-19 (which meant the expense of funding guaranteed for July to December 2020 needed to be recognised in 2019/20 rather than in 2020/21). This guaranteed funding for providers has been included in the 2020/21 expenditure data. This therefore differs from expenditure recorded in the Estimates of Appropriations for Vote Tertiary Education.
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

Table F2: Median loan balance on leaving study
Year of last study	Median loan balance	Inflation adjusted Median loan balance
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.
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

Table F2.1: Median loan balance for leavers by gender - all borrowers and those who studied at bachelor level
	All levels		Bachelor level
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
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

Table F4: Percentage of borrowers who fully repaid each year who left study 2003, 2007, 2011 and 2015
Exit Year	2003	2007	2011	2015
Source: Stats New Zealand IDI Refer Figure 4, Part 1, Page 12 of the Student Loan Scheme Annual Report 2020/21 Notes: The leaving cohorts are those who last studied in 2003, 2007, 2011 and 2015, had borrowed from the Scheme, and had a student loan balance of $20 or more at 31 March in the following year. Full repayment is deemed to occur when the student loan balance has fallen below $20.
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

Table F3: Median annual earnings of young domestic graduates
	Earnings as a percentage of national median earnings by year after qualification
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: Graduate earnings are attributed only to the highest qualification completed by a person. Sources of data used to identify the highest qualification completed by a person include the Single Data Return, Industry Training Register and New Zealand Qualifications Authority register. The definition of employed graduates and employed population is based on size of income from employed taxable sources. A person is considered employed if their yearly income in the 2020 tax year from employed sources exceeded $18,400 (one-half of the minimum wage over 52 weeks, with 40 working hours in a week). All earnings are measured in the 2020 tax year (between 1 April 2019 and 31 March 2020). Any negative earnings (income losses) were zeroed for the purposes of this table. For comparison purposes the median earnings of the employed New Zealand population were calculated for age groups matching the median age of graduate groups in each year.
	(%)
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

Table F5: Enrolment by domestic students in tertiary education
Years	Students	EFTS
Source: Ministry of Education Refer to Figure 5, Part 1, Page 13 of the Student Loan Scheme Annual Report 2020/21 Notes: Data before 1999 excludes private training establishments and ‘other tertiary education provider’ students. Data relates to domestic students enrolled at any time during the year. Participation excludes industry training, non-government-funded private training establishments, formal courses of a week or less, and all non-formal learning. The difference between student numbers and EFTS numbers relates to the proportion of part-time students enrolled and the study load they enrol for. Data in this table has been revised, and may differ from previously published figures. Data in this table has been rounded to the nearest 5 to protect the privacy of individuals.
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

Table T2: Participation and completion by domestic students in tertiary education
Participation and completion		2018	2019	2020
Source: Ministry of Education Refer to Table 2, Part 1, Page 13 of the Student Loan Scheme Annual Report 2020/21 Notes: Data relates to domestic students enrolled at any time during the year. Participation excludes industry training, non-government-funded private training establishments, formal courses of a week or less, and all non-formal learning. A small number of students complete qualifications at different levels in the same year, so the sum of the three levels may be higher than the number of students completing their qualifications in a given year. Students are counted in each ethnic group they identify with, so the sum of the various ethnic groups may not add to the total. Data in this table, including totals, have been rounded so the sum of individual counts may not add to the total.
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

Table T2.1: Trends in level of study among borrowers in 2020
Qualification level	Number of students
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

Qualification	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
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: Students studying for more than one qualification are listed under the highest. The counts of borrowers have been randomly rounded to base 3.
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

Table T2.2: Trends in the age profile of borrowers
Age groups	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
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

	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
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.
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

Table T3: Demographic characteristics of all active student loan borrowers
All active borrowers		2019	2020	2019 - 2020 change
Source: Ministry of Social Development Refer to Table 3, Part 1, Page 14 of the Student Loan Scheme Annual Report 2020/21 Notes: All percentages are of all active borrowers. Active student loan borrowers are those who borrowed from the loan scheme in the calendar year. Borrowers can select more than one ethnic group so the sum of all ethnic groups may not add to 100 percent. Other includes borrowers who identified themselves with three or more ethnic groups. The total number of borrowers includes those who identified themselves as gender diverse. Numbers are not a true reflection of gender diversity, as the option only became available when applying for a student loan from 2 December 2019. The counts of borrowers in 2020 have been randomly rounded to base 3.
All active borrowers		2019	2020	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

Table T3.1: Demographic characteristics of new active student loan borrowers
New active borrowers		2019	2020	2019 - 2020 change
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: New active borrowers are those entering the loan scheme for the first time ever. Borrowers can select more than one ethnic group so the sum of all ethnic groups may not add to 100 percent. Other includes borrowers who identified themselves with three or more ethnic groups. All percentages are of total new active borrowers. The counts of borrowers in 2020 have been randomly rounded to base 3.
New active borrowers		2019	2020	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

Table F8: Borrowing trends since 1992
	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
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: Borrowing includes establishment fees but does not take into account refunds to Ministry of Social Development. The counts of borrowers in 2020 has been randomly rounded to base 3.
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

Table F8.1: Number of total active borrowers and new active borrowers in each academic year
Year	Total active borrowers	New active borrowers
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: The apparent discrepancy in the 1992 figures is due to different data sources. The figures for all borrowers were provided by the Ministry of Education, while the figures for new borrowers were provided by Statistics New Zealand from the integrated dataset on student loans and allowances. The counts of borrowers in 2020 have been randomly rounded to base 3.
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

Table F6.1: Overall loan uptake
Year	Students eligible to borrow	Borrowing uptake	Uptake rate
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: Overall uptake rate reflects the mix of full-time and part-time students. The borrowing uptake figure for 2020 has been randomly rounded to base 3.
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

Table F6: Full-time and Part-time uptake
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
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: The full-time borrowing uptake figure for 2020 has been randomly rounded to base 3. The part-time borrowing uptake figure for 2020 has been randomly rounded to base 3.
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

Table F7: Total amounts drawn by loan component
Year	Course Fees	Living Costs	Course-related Costs
Source: Ministry of Social Development Refer to Figure 7, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21
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

Table F7.1: Average and median amounts borrowed by component
	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
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
	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

Table T4: Component of lending by sub-sector
2020	Sub-sector	Number of borrowers	Borrowing amount million ($)	Average borrowing ($)
Source: Ministry of Social Development. Refer to Table 4, Part 1, Page 15 of the Student Loan Scheme Annual Report 2020/21 Notes: PTE stands for Private Training Establishment. Borrowing amount does not include establishment fees. Total is a count of unique individuals
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

Table T4.1: Average course fees borrowed by sub-sector
	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
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: Colleges of education are included with universities. Borrowers are counted in each sub-sector they studied in during the year.
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

Table T4.2: Student loan borrowers by level of qualification and average amount borrowed
Qualification level n= number of borrowers $ avg = average amount borrowed	2018		2019		2020
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: Borrowers are counted in the highest qualification level they studied in the year. Amount borrowed includes establishment fees. The counts of borrowers in 2020 have been randomly rounded to base 3.
	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

Table T4.3: Number of students borrowing for living cost and receiving student allowances
	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
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.
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

Table T4.4: Student allowances compared with student loan living cost borrowing
2020	Number of students	Average allowances ($)	Average living costs loan ($)	Average allowances and living costs loan ($)
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.
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

Table T5: Leaving Debt and forecast repayment times
		N	Leaving debt ($)							Post study repayment time (years)
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: Shown are percentiles of leaving debt. Also shown are percentiles of post-study repayment time; a mixture of real experience and modelling. Note that these percentiles have been independently determined. The population is those who studied in 2019, did not study in 2020, and who completed a qualification at the level shown in 2019. Some people who qualify continue to study. These people are excluded from this table. 'n' indicates that full repayment is not seen to occur in the modelling.
		N	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

Table T5.1: Median leaving debt and repayment time by ethnicity and level of study for leavers in 2019
	Cert1-4			CertsDip5-7			Bachelors			PostGrad			All Levels
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: Counts have been randomly rounded and may not appear to add. Shown is median leaving debt. Also shown is median post-study repayment time; a mixture of real experience and modelling. Note that these have been independently determined. The population is those who studied in 2019 and did not study in 2020. This is irrespective of qualification completion status. The ethnicity is reported using 'multiple response', meaning that people are counted in each broad ethnic group they identify with.
	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

Table T6: Leaving Debt and Forecast repayment times for borrowers who left study in 2019
			Repayment times (years)			Leaving debt ($)
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: Counts have been randomly rounded and may not appear to add. Ethnicity is reported using 'multiple response', meaning that people are counted in each broard ethnic group they identify with. Shown are quartiles of post-study repayment time. This is a mixture of real experience and modelling. Also shown are percentiles of leaving debt. 'Not always NZ-based' indicates a borrower who at some stage has met, or is modelled as meeting, the overseas-based borrower criteria.
	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

Table T6.1: Quartiles of actual and forecast repayment times by level of study
	Level 1-4 certificates			Level 5-7 certificates/diplomas			Bachelors and graduate certificates/ diplomas			Postgraduate
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.
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

Table T7: Overview of student loan at 30 June 2021 and the preceding three years
	2018	2019	2020	2021
Source: Inland Revenue Refer to Tables 7, 8 and 9, Part 1, Page 19 of the Student Loan Scheme Annual Report 2020/21
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

Table F9: Number of Borrowers and Nominal Balance
	Number of Borrowers					Nominal Balance ($ million)
Source: Inland Revenue Refer to Figure 9, Part 1, Page 20 of the Student Loan Scheme Annual Report 2020/21
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

Table F9.1: Age range of borrower groups
Source: Inland Revenue This is a supporting table to Figure 9, Part 1, Page 20 of the Student Loan Scheme Annual Report 2020/21
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

Table F9.2: Average and Median Loan Balances as at 30 June
Year	Average ($)	Median ($)
Source: Inland Revenue This is a supporting table to Figure 9, Part 1, Page 20 of the Student Loan Scheme Annual Report 2020/21
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

Table F10: Range and Distribution of loan balances at 30 June
Balance range	NZB	OBB	All borrowers	NZB	OBB
Source: Inland Revenue Refer to Figure 10, Part 1, Page 20 of the Student Loan Scheme Annual Report 2019/20
$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

Table F9.3: Borrower numbers by activity
		2019/20	2020/21
Source: Inland Revenue This is a supporting table to Part 1 of the Student Loan Scheme Annual Report 2020/21 Notes: Repayments/Lending - loans closed are not included and therefore neither are the transactions These are point-in-time volumes and therefore due to data being extracted on different dates may differ from the numbers in other tables. IR upgraded the system used to manage student loans in 2020. Activity on accounts as part of this change, has impacted for some borrowers the categories their loans are reflected in.
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

Table T10: Loan Repayments
Repayments	2018/19	2019/20	2020/21
Source: Inland Revenue Refer to Table 10, Part 1, Page 21 of the Student Loan Scheme Annual Report 2020/21 Note: Totals may not appear to add because of rounding.
	$ 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

Table T10.1: Loan Repayments directly from borrowers
	2017/18	2018/19	2019/20	2020/21
Source: Inland Revenue This is a supporting table for Table 10, Part 1, Page 21 of the Student Loan Scheme Annual Report 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

Table T11: Overdue repayments as at 30 June
Overdue repayments	2018	2019	2020	2021	% Change 2020-21
Source: Inland Revenue Refer to Table 11, Part 1, Page 22 of the Student Loan Scheme Annual Report 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

Table T12: Age and location of overdue repayments at 30 June
	2016		2017		2018		2019		2020		2021
Source: Inland Revenue Refer to Table 12, Part 1, Page 22 of the Student Loan Scheme Annual Report 2020/21 Notes: A change in reporting methodology in 2019/20 which means this information is not comparative to 2018/19. Totals may not appear to add because of rounding.
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

Table F11: Number of loans fully repaid at 30 June
Year	Loans repaid
Source: Inland Revenue Refer to Figure 11, Part 1, Page 23 of the Student Loan Scheme Annual Report 2020/21 Notes: Going forward, student loan repaid data will be updated only for the financial year being reported. For 2021, both 2020 and 2021 financial years were reported. Historical data can be changed because loans can be booked to previous tax years when they are 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

Table T13: Write-off due to death, bankruptcy or fraud
Write-offs	2017/18	2018/19	2019/20	2020/21
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
	$ 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

Table F12: Movement in the fair value due to impairment and discount rate changes over the last six years
At 30 June	2016	2017	2018	2019	2020	2021
Source: Ministry of Education Refer to Figure 12, Part 2, Page 26 of the Student Loan Scheme Annual Report 2020/21 Notes: The impairment shown applies to the fair value and so differs from the impairment of the carrying value reported in earlier annual reports. Changes in value arising from changes in the collection expense assumptions have been attributed to impairment.
	$ 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

Table F13: Lending and initial write down on this lending
	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
Source: Ministry of Education Refer to Figure 13, Part 2, Page 27 of the Student Loan Scheme Annual Report 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

Table F13.1: Cost of lending in cents per dollar lent in half years
2008		2009		2010		2011		2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
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
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

Table F14: Lending and Repayments
	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
Source: Ministry of Education Refer to Figure 14, Part 2, Page 28 of the Student Loan Scheme Annual Report 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

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

Table T15: Student Loan Scheme administration costs
	2010/11	2011/12	2012/13	2013/14	2014/15	2015/16	2016/17	2017/18	2018/19	2019/20	2020/21
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: All amounts exclude GST. Inland Revenue's administrative costs from 2014/15 through 2019/20 have been restated from those published in previous annual reports to exclude business transformation costs.
	$ 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

Table T16: Nominal and Carrying Value Movements
		Notes	$ million
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: The balance at 30 June 2007 has been restated as per table 15 of the 2008 annual report to exclude accrued interest that would be subsequently written off. All other nominal balance figures are as per the accounts as published in annual reports. Interest and penalty amounts are only available for the 2008/09 and later fiscal years. Prior to this, these amounts are implicit in the balancing item. The no interest for New Zealand-based borrowers policy came into effect on 1 April 2006. A $60 fee is charged by the Ministry of Social Development every time a borrower establishes a new loan account. Before 2012, this was known as the administration fee. The administration fee is an annual fee added to loans on 1 April. This fee is only charged if a Ministry of Social Development establishment fee has not been charged in the same tax year. This was first charged in 2011/12. Prior to 2008/09, the balancing item includes penalties and loan interest charged. In 2011/12, the balancing item reflects adjustments over the period. The interest in 2008/09 is low because in that year $96 million was reversed due to over-charging interest on borrower accounts in prior years. In all years, new lending is net of repayments made to the Ministry of Social Development (which were mostly refunded course fees) and the repayments are those made to Inland Revenue only. In the 2011 and earlier annual reports, refunded course fees were counted both in the lending and the repayment lines. From 1 April 2012, the initial write-down is applied to new borrowing net of refunded course fees. Prior to this, gross lending was written-down. The closing carrying value at June 2018 differs from the opening value the next year by $627 million. This uplift occurs because of the switch to fair value accounting on 1 July 2018.
			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
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

Table T16.1: History of repayment thresholds and interest rates
For the year ending 31 March	Interest Rate	Domestic Repayment Threshold ($ per year)
Source: Ministry of Education This is a supporting table for Part 2 of the Student Loan Scheme Annual Report 2020/21 Notes: Since 1 April 2006 there has been no interest on student loans where the borrower is New Zealand based. For New Zealand based borrowers compulsory repayments are based on earnings. Compulsory repayments for domestic borrowers are 12 cents in every dollar earned over the threshold. This is calculated based on each pay, so, for example, when a borrower is paid weekly the threshold is 1/52 nd of the annual threshold. Before April 2013 the student loan repayment rate was 10 cents in every dollar earned over the repayment threshold.
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]

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Student allowancesUpdated: Jul-2022