Financial Support for Tertiary Students
The latest statistics relating to financial support for students including student loans, allowances and scholarships.
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Funding of tertiary education
Government expenditure | 2017/18 | 2018/19 | 2019/20 | |
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Source: Ministry of Education, Tertiary Education Commission and Ministry of Social Development. Refer to Table 1, Chapter 1, page 11 of the Student Loan Scheme Annual Report 2019/20 Notes:
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Expenditure ($ million) | Student loans - fair value write down on new borrowings | $594 | $563 | $506 |
Student allowances | $511 | $583 | $567 | |
Tuition subsidies, Fees Free, and PBRF | $2,514 | $2,580 | $2,690 | |
Total | $3,619 | $3,726 | $3,763 | |
Total as % of GDP | 1.24% | 1.23% | 1.25% |
Median loan balance on leaving study
Year of last study | Median loan balance | Inflation adjusted Median loan balance |
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Source: Stats New Zealand IDI Refer to Figure 2, Chapter 1, page 11 of the Student Loan Scheme Annual Report 2019/20 Notes: Shown is median loan balance in dollars following the last year of study, and the same figure deflated to March 2001 dollars. |
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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 |
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, Chapter 1, Page 11 of the Student Loan Scheme Annual Report 2019/20 |
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Year of last study | All levels | Bachelor level | ||
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Male $ |
Female $ |
Male $ |
Female $ |
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2018 | 22,110 | 21,390 | 30,080 | 28,690 |
2017 | 19,360 | 19,350 | 28,220 | 27,420 |
2016 | 17,860 | 18,580 | 27,920 | 26,360 |
2015 | 17,170 | 17,350 | 26,800 | 25,150 |
2014 | 15,960 | 16,580 | 26,270 | 23,920 |
2013 | 15,040 | 15,430 | 25,170 | 22,760 |
2012 | 13,800 | 14,180 | 23,610 | 20,710 |
2011 | 13,110 | 13,070 | 22,130 | 19,040 |
2010 | 11,990 | 11,910 | 20,500 | 17,410 |
2009 | 11,210 | 11,490 | 19,800 | 17,090 |
2008 | 11,120 | 10,770 | 19,570 | 16,280 |
2007 | 10,660 | 10,300 | 18,260 | 15,350 |
2006 | 10,520 | 9,740 | 18,940 | 15,720 |
2005 | 10,650 | 9,820 | 19,160 | 16,110 |
2004 | 10,050 | 8,760 | 17,410 | 14,120 |
2003 | 9,790 | 8,820 | 16,360 | 13,760 |
Percentage of borrowers who fully repaid each year
Exit Year | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||
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Source: Stats New Zealand IDI Refer Figure 4, Chapter 1, Page 12 of the Student Loan Scheme Annual Report 2019/20 Notes:
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2003 | 76.9% | 75.4% | 73.6% | 71.5% | 69.2% | 66.6% | 63.5% | 60.2% | 56.5% | 52.6% | 47.8% | 42.5% | 36.4% | 28.9% | 22.5% | 11.8% | 0.0% | ||
2007 | 69.6% | 67.3% | 64.4% | 60.9% | 57.1% | 52.6% | 47.3% | 41.3% | 34.4% | 27.2% | 19.3% | 9.6% | 0.0% | ||||||
2011 | 57.1% | 52.5% | 46.9% | 40.5% | 33.8% | 26.6% | 18.9% | 10.0% | 0.0% | ||||||||||
2015 | 28.7% | 21.5% | 14.3% | 6.9% | 0.0% |
Earning potential
The earnings range for domestic graduates reflects the higher the qualification, the higher the expected income. The tables show the percentage of median and quartile earnings of employed New Zealand domestic tertiary graduates between 1 and 10 years after graduation.
Five years after graduation:
- The median earnings of those with a Bachelor’s degree graduate was 23 percent above those with a Level 5-7 certificate/diploma.
- The median earnings of those with a Master’s degree was 6.5 percent higher than those with a Bachelor’s degree and 31 percent higher than those with a level 5-7 certificate.
Median annual earnings of young domestic graduates
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 | |
Source: Stats NZ IDI, Tertiary Education Commission Refer to Figure 3, Chapter 1, page 12 of the Student Loan Scheme Annual Report 2019/20 Notes:
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Doctorates | 134 | 143 | 150 | 149 | 147 | 150 | 149 | 162 | 165 | 157 | |
Masters | 113 | 121 | 127 | 125 | 131 | 138 | 136 | 138 | 133 | 138 | |
Honours & postgraduate certificates/diplomas | 123 | 127 | 130 | 133 | 136 | 139 | 140 | 143 | 144 | 146 | |
Graduate certificates/diplomas | 96 | 102 | 110 | 112 | 118 | 119 | 123 | 127 | 127 | 130 | |
Bachelor degrees | 113 | 116 | 118 | 119 | 123 | 122 | 125 | 127 | 126 | 125 | |
Level 5-7 certificates/diplomas | 95 | 98 | 96 | 100 | 100 | 100 | 100 | 102 | 106 | 106 | |
Level 4 certificates | 105 | 109 | 104 | 102 | 104 | 106 | 108 | 110 | 109 | 109 | |
Level 1-3 certificates | 105 | 103 | 108 | 100 | 100 | 98 | 94 | 96 | 94 | 96 |
Domestic graduate earnings range
This table is produced online only
Source: Stats NZ IDI, Tertiary Education Commission interpretation. This is a supporting table for Figure 3, Chapter 1, Page 12 of the Student Loan Scheme Annual Report 2019/20 |
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Level of study | Measure | Annual earnings ($) | ||||||||||||
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Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 | Year 11 | Year 12 | Year 13 | ||
Level 1-3 certificates | Lower quartile | 28,000 | 31,000 | 32,000 | 33,000 | 33,000 | 35,000 | 35,000 | 37,000 | 37,000 | 38,000 | 38,000 | 38,000 | 38,000 |
Level 1-3 certificates | Median | 39,000 | 41,000 | 43,000 | 43,000 | 45,000 | 47,000 | 47,000 | 49,000 | 50,000 | 51,000 | 51,000 | 53,000 | 55,000 |
Level 1-3 certificates | Upper quartile | 50,000 | 52,000 | 53,000 | 55,000 | 57,000 | 60,000 | 60,000 | 64,000 | 65,000 | 66,000 | 68,000 | 70,000 | 74,000 |
Level 1-3 certificates | National median | 37,000 | 40,000 | 40,000 | 43,000 | 45,000 | 48,000 | 50,000 | 51,000 | 53,000 | 53,000 | 56,000 | 57,000 | 58,000 |
Level 4 certificates | Lower quartile | 31,000 | 33,000 | 34,000 | 35,000 | 38,000 | 39,000 | 41,000 | 42,000 | 42,000 | 43,000 | 44,000 | 46,000 | 46,000 |
Level 4 certificates | Median | 45,000 | 47,000 | 47,000 | 48,000 | 50,000 | 53,000 | 55,000 | 57,000 | 58,000 | 60,000 | 62,000 | 62,000 | 64,000 |
Level 4 certificates | Upper quartile | 61,000 | 63,000 | 64,000 | 65,000 | 68,000 | 70,000 | 72,000 | 74,000 | 76,000 | 77,000 | 81,000 | 82,000 | 83,000 |
Level 4 certificates | National median | 43,000 | 43,000 | 45,000 | 47,000 | 48,000 | 50,000 | 51,000 | 52,000 | 53,000 | 55,000 | 56,000 | 57,000 | 58,000 |
Level 5-7 certificates and diplomas | Lower quartile | 28,000 | 32,000 | 33,000 | 35,000 | 36,000 | 37,000 | 39,000 | 39,000 | 41,000 | 41,000 | 40,000 | 39,000 | 41,000 |
Level 5-7 certificates and diplomas | Median | 38,000 | 42,000 | 43,000 | 45,000 | 47,000 | 48,000 | 51,000 | 53,000 | 55,000 | 56,000 | 56,000 | 55,000 | 58,000 |
Level 5-7 certificates and diplomas | Upper quartile | 48,000 | 51,000 | 54,000 | 58,000 | 61,000 | 63,000 | 68,000 | 70,000 | 72,000 | 74,000 | 75,000 | 76,000 | 81,000 |
Level 5-7 certificates and diplomas | National median | 40,000 | 43,000 | 45,000 | 45,000 | 47,000 | 48,000 | 51,000 | 52,000 | 52,000 | 53,000 | 56,000 | 56,000 | 58,000 |
Bachelors degrees | Lower quartile | 35,000 | 40,000 | 42,000 | 44,000 | 45,000 | 46,000 | 47,000 | 48,000 | 47,000 | 47,000 | 48,000 | 48,000 | 48,000 |
Bachelors degrees | Median | 45,000 | 50,000 | 53,000 | 56,000 | 59,000 | 61,000 | 64,000 | 66,000 | 67,000 | 69,000 | 70,000 | 71,000 | 72,000 |
Bachelors degrees | Upper quartile | 54,000 | 60,000 | 65,000 | 70,000 | 74,000 | 78,000 | 82,000 | 86,000 | 89,000 | 92,000 | 94,000 | 97,000 | 100,000 |
Bachelors degrees | National median | 40,000 | 43,000 | 45,000 | 47,000 | 48,000 | 50,000 | 51,000 | 52,000 | 53,000 | 55,000 | 56,000 | 57,000 | 58,000 |
Level 7 graduate certs/dips | Lower quartile | 35,000 | 40,000 | 41,000 | 44,000 | 45,000 | 47,000 | 47,000 | 49,000 | 50,000 | 50,000 | 47,000 | 53,000 | 52,000 |
Level 7 graduate certs/dips | Median | 45,000 | 49,000 | 53,000 | 56,000 | 60,000 | 62,000 | 65,000 | 70,000 | 71,000 | 74,000 | 73,000 | 78,000 | 78,000 |
Level 7 graduate certs/dips | Upper quartile | 52,000 | 55,000 | 61,000 | 66,000 | 72,000 | 77,000 | 80,000 | 84,000 | 86,000 | 86,000 | 88,000 | 93,000 | 91,000 |
Level 7 graduate certs/dips | National median | 47,000 | 48,000 | 48,000 | 50,000 | 51,000 | 52,000 | 53,000 | 55,000 | 56,000 | 57,000 | 58,000 | 58,000 | 60,000 |
Level 8 honours/postgrad certs/dips | Lower quartile | 39,000 | 43,000 | 46,000 | 47,000 | 49,000 | 52,000 | 52,000 | 53,000 | 55,000 | 56,000 | 62,000 | 61,000 | 65,000 |
Level 8 honours/postgrad certs/dips | Median | 53,000 | 57,000 | 61,000 | 64,000 | 68,000 | 71,000 | 73,000 | 76,000 | 79,000 | 82,000 | 88,000 | 92,000 | 94,000 |
Level 8 honours/postgrad certs/dips | Upper quartile | 63,000 | 69,000 | 74,000 | 79,000 | 84,000 | 89,000 | 94,000 | 98,000 | 108,000 | 115,000 | 120,000 | 125,000 | 127,000 |
Level 8 honours/postgrad certs/dips | National median | 43,000 | 45,000 | 47,000 | 48,000 | 50,000 | 51,000 | 52,000 | 53,000 | 55,000 | 56,000 | 57,000 | 58,000 | 59,000 |
Masters | Lower quartile | 38,000 | 45,000 | 48,000 | 49,000 | 50,000 | 55,000 | 56,000 | 50,000 | 52,000 | 56,000 | 57,000 | 55,000 | 59,000 |
Masters | Median | 51,000 | 57,000 | 61,000 | 64,000 | 68,000 | 73,000 | 75,000 | 77,000 | 76,000 | 80,000 | 84,000 | 80,000 | 83,000 |
Masters | Upper quartile | 60,000 | 68,000 | 75,000 | 79,000 | 86,000 | 95,000 | 95,000 | 102,000 | 104,000 | 110,000 | 115,000 | 105,000 | 114,000 |
Masters | National median | 45,000 | 47,000 | 48,000 | 51,000 | 52,000 | 53,000 | 55,000 | 56,000 | 57,000 | 58,000 | 59,000 | 60,000 | 60,000 |
Doctorates | Lower quartile | 51,000 | 58,000 | 61,000 | 61,000 | 68,000 | 72,000 | 58,000 | 72,000 | 82,000 | 73,000 | 74,000 | 72,000 | 86,000 |
Doctorates | Median | 67,000 | 73,000 | 78,000 | 79,000 | 81,000 | 84,000 | 85,000 | 94,000 | 99,000 | 94,000 | 100,000 | 92,000 | 103,000 |
Doctorates | Upper quartile | 78,000 | 82,000 | 87,000 | 97,000 | 99,000 | 96,000 | 104,000 | 107,000 | 135,000 | 124,000 | 125,000 | 126,000 | 130,000 |
Doctorates | National median | 50,000 | 51,000 | 52,000 | 53,000 | 55,000 | 56,000 | 57,000 | 58,000 | 60,000 | 60,000 | 60,000 | 61,000 | 61,000 |
Participation and borrowing
Participation
Since 2010 the overall enrolment rate of students and those in full-time equivalent study has steadily decreased.
Enrolment by domestic students in tertiary education
Years | Students | EFTS | |||||||||
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Source: Ministry of Education Refer to Figure 5, Chapter 2, Page 14 of the Student Loan Scheme Annual Report 2019/20 Notes:
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2019 | 328,075 | 215,675 | |||||||||
2018 | 335,620 | 220,265 | |||||||||
2017 | 343,590 | 223,300 | |||||||||
2016 | 353,545 | 230,815 | |||||||||
2015 | 358,075 | 233,470 | |||||||||
2014 | 363,035 | 239,695 | |||||||||
2013 | 368,695 | 244,770 | |||||||||
2012 | 372,770 | 245,685 | |||||||||
2011 | 381,455 | 245,580 | |||||||||
2010 | 418,180 | 254,520 | |||||||||
2009 | 423,000 | 250,635 | |||||||||
2008 | 418,660 | 235,115 | |||||||||
2007 | 441,720 | 237,445 | |||||||||
2006 | 445,490 | 235,440 | |||||||||
2005 | 452,415 | 242,820 | |||||||||
2004 | 432,745 | 243,115 | |||||||||
2003 | 407,425 | 239,450 | |||||||||
2002 | 379,825 | 224,235 | |||||||||
2001 | 342,440 | 203,795 | |||||||||
2000 | 314,615 | 190,660 | |||||||||
1999 | 294,425 | 181,100 | |||||||||
1998 | 259,280 | 160,275 | |||||||||
1997 | 258,935 | 154,840 | |||||||||
1996 | 260,555 | 148,470 | |||||||||
1995 | 259,230 | 145,425 | |||||||||
1994 | 245,940 | 139,985 |
Participation and completion by domestic students
Participation and completion | 2017 | 2018 | 2019 | ||||||||
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Source: Ministry of Education Refer to Table 2, Chapter 2, Page 15 of the Student Loan Scheme Annual Report 2019/20 Notes:
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Domestic students participating in tertiary education | Total (000) | 344 | 336 | 328 | |||||||
20 years old and under | 90 | 89 | 86 | ||||||||
21-26 years old | 99 | 96 | 94 | ||||||||
27-50 years old | 123 | 121 | 119 | ||||||||
Over 50 years old | 31 | 31 | 29 | ||||||||
Female | 201 | 199 | 198 | ||||||||
Male | 143 | 137 | 130 | ||||||||
Māori | 79 | 76 | 73 | ||||||||
Pasifika | 34 | 32 | 33 | ||||||||
European | 214 | 209 | 204 | ||||||||
Asian | 49 | 50 | 51 | ||||||||
Domestic students completing qualifications | Non-degree | 78 | 75 | 71 | |||||||
Bachelors | 27 | 28 | 27 | ||||||||
Postgraduate | 15 | 16 | 14 | ||||||||
Total | 118 | 117 | 111 |
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.
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 | 9,163 |
Level 4 Certificates | 10,376 |
Level 5-7 Diplomas | 15,101 |
Level 7 Bachelors | 91,656 |
Level 8 Honours/Postgrad cert/dip | 13,611 |
Level 9 Masters | 7,839 |
Level 10 Doctorates | 1,451 |
Non Formal | 9 |
Missing | 23 |
Total | 149,229 |
Qualification | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
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Source: Ministry of Social Development and Ministry of Education This is a supporting table for Table 2, Chapter 2, Page 15 of the Student Loan Scheme Annual Report 2019/20 Note: Students studying for more than one qualification are listed under the highest |
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Bacherlors 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% | 72.7% | 75.1% | 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% | 15% | 13% |
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 |
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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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |
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Source: Ministry of Social Development. This is a supporting table for Table 2, Chapter 2, Page 15 of the Student Loan Scheme Annual Report 2019/20 |
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Borrowers under 26 years | 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 |
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% |
Borrowing
Since 1992, 1.37 million students have borrowed a total of $28.8 billion through the Student Loan Scheme (net of refunds to Studylink, and inclusive of administration charges, to 30 June 2020). Borrowers have repaid $16,949 million. More than 660,000 borrowers have repaid their loans since the scheme began.
In 2019 there were less students entering the student loan scheme overall however, the demographics of new active borrowers shows new borrowers increased substantially from 2018. This is due to the delay in borrowers entering the scheme for the first time due to first year fees-free. This is also why the median age of new borrowers has increased from 19 to 20 years.
Borrowing trends since 1992
1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | ||
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Source: Ministry of Social Development and Ministry of Education Refer to Figure 6, Chapter 2, Page 16 of the Student Loan Scheme Annual Report 2019/20 Notes:
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Loan borrowings ($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 | |
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 |
Number of total active borrowers and new active borrowers in each academic year
Year | Total active borrowers | New active borrowers |
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Source: Ministry of Social Development and Stats NZ IDI This is a supporting table for Table 2, Chapter 2, Page 15 of the Student Loan Scheme Annual Report 2019/20 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. |
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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 |
Demographic characteristics of all active student loan borrowers
Source: Ministry of Social Development Refer to Table 3, Chapter 2, Page 17 of the Student Loan Scheme Annual Report 2019/20 Notes:
|
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All active borrowers | 2018 | 2019 | 2018 - 2019 change | ||
---|---|---|---|---|---|
n | % | ||||
Total number | 154,608 | 149,229 | -5,379 | -3.5 | |
Gender | Female | 94,901 | 92,243 | -2,658 | -2.8 |
Male | 59,707 | 56,969 | -2,738 | -4.6 | |
Gender Diverse | 17 | ||||
Age | Average age | 25 | 26 | ||
Median age | 22 | 22 | |||
20 years and under | 46,450 | 42,485 | -3,965 | -8.5 | |
21-26 years | 65,970 | 64,990 | -980 | -1.5 | |
27-50 years | 38,943 | 38,507 | -436 | -1.1 | |
Over 50 years | 3,245 | 3,247 | 2 | 0.1 | |
20 years and under (%) | 30.0 | 28.5 | |||
21-26 years (%) | 42.7 | 43.6 | |||
27-50 years (%) | 25.2 | 25.8 | |||
Over 50 years (%) | 2.1 | 2.2 | |||
Ethnic group | European (%) | 62.3 | 61.0 | ||
Māori (%) | 18.1 | 17.6 | |||
Pacific people (%) | 9.4 | 9.3 | |||
Asian (%) | 15.0 | 15.4 | |||
Other (%) | 4.3 | 4.4 |
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, Chapter 2, Page 17 of the Student Loan Scheme Annual Report 2019/20 Notes:
|
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New active borrowers | 2018 | 2019 | 2018 - 2019 change | |||
---|---|---|---|---|---|---|
n | % | |||||
Total number | 30,613 | 34,212 | 3,599 | 11.8 | ||
Gender | Female | 18,369 | 20,100 | 1,731 | 9.4 | |
Male | 12,244 | 14,112 | 1,868 | 15.3 | ||
Age | Average age | 23 | 23 | |||
Median age | 19 | 20 | ||||
20 years and under | 20,358 | 23,143 | 2,785 | 13.7 | ||
21-26 years | 4,877 | 5,516 | 639 | 13.1 | ||
27-50 years | 4,780 | 4,905 | 125 | 2.6 | ||
Over 50 years | 598 | 648 | 50 | 8.4 | ||
20 years and under (%) | 66.5 | 67.6 | ||||
21-26 years (%) | 15.9 | 16.1 | ||||
27-50 years (%) | 15.6 | 14.3 | ||||
Over 50 years (%) | 2.0 | 1.9 | ||||
Ethnic group | European (%) | 57.0 | 53.8 | |||
Māori (%) | 17.6 | 15.3 | ||||
Pacific people (%) | 8.9 | 8.8 | ||||
Asian (%) | 13.1 | 16.4 | ||||
Other (%) | 3.9 | 4.2 |
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 fell from 72 percent (133,863 students) in 2018 to 69 percent (127,921 students) in 2019,
- part-time students remained static at 33 percent (21,308 students).
The Average and Median amounts borrowed by loan component over the last 10 years show that between 2010 and 2019;
- average amounts borrowed for course fees increased by 35 percent
- average amounts borrowed for living costs increased by 51 percent
The average and median amounts borrowed by loan component shows in 2019, the:
- average amount borrowed for course fees was $6,853 an increase of $191 or 2.9 percent
- average amount borrowed for living costs increased by $283 (5.1 percent) to $5,796
Overall loan uptake
Year | Students eligible to borrow | Borrowing uptake | Uptake rate |
---|---|---|---|
Source: Ministry of Social Development and Ministry of Education Refer to Figure 7, Chapter 2, Page 17 of the Student Loan Scheme Annual Report 2019/20 Note: Overall uptake rate reflects the mix of full-time and part-time students. |
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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% |
Full time uptake
This table is produced online only
Year | Full-time students eligible to borrow | Full-time student borrowing uptake | Full-time uptake rate |
---|---|---|---|
Source: Ministry of Social Development and Ministry of Education This is a supporting table for Figure 7, Chapter 2, Page 17 of the Student Loan Scheme Annual Report 2019/20 |
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2019 | 185,467 | 127,921 | 69% |
2018 | 186,119 | 133,863 | 72% |
2017 | 182,438 | 146,550 | 80% |
2016 | 188,566 | 152,561 | 81% |
2015 | 191,102 | 158,417 | 83% |
2014 | 194,704 | 162,850 | 84% |
2013 | 198,543 | 167,666 | 84% |
2012 | 211,135 | 174,187 | 83% |
2011 | 209,665 | 173,398 | 83% |
2010 | 216,482 | 176,314 | 81% |
2009 | 209,867 | 163,368 | 78% |
2008 | 193,328 | 145,491 | 75% |
2007 | 192,456 | 142,031 | 74% |
2006 | 187,706 | 136,483 | 73% |
2005 | 185,379 | 127,055 | 69% |
2004 | 178,601 | 131,407 | 74% |
2003 | 171,994 | 133,791 | 78% |
2002 | 183,735 | 133,559 | 73% |
2001 | 160,387 | 129,391 | 81% |
2000 | 145,308 | 115,839 | 80% |
Part-time uptake
This table is produced online only
Year | Part-time students eligible to borrow | Part-time student borrowing uptake | Part-time uptake rate |
---|---|---|---|
Source: Ministry of Social Development and Ministry of Education This is a supporting table for Figure 7, Chapter 2, Page 17 of the Student Loan Scheme Annual Report 2019/20 |
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2019 | 64,184 | 21,308 | 33.2% |
2018 | 62,707 | 20,745 | 33.1% |
2017 | 64,211 | 23,487 | 36.6% |
2016 | 65,171 | 24,377 | 37.4% |
2015 | 64,706 | 24,120 | 37.3% |
2014 | 62,969 | 23,627 | 37.5% |
2013 | 61,919 | 24,591 | 39.7% |
2012 | 66,053 | 27,000 | 40.9% |
2011 | 69,189 | 33,932 | 49.0% |
2010 | 74,689 | 36,171 | 48.4% |
2009 | 75,315 | 35,370 | 47.0% |
2008 | 70,944 | 33,042 | 46.6% |
2007 | 72,162 | 31,760 | 44.0% |
2006 | 70,798 | 30,937 | 43.7% |
2005 | 72,382 | 27,356 | 37.8% |
2004 | 74,805 | 25,625 | 34.3% |
2003 | 61,422 | 22,459 | 36.6% |
2002 | 57,128 | 16,967 | 29.7% |
2001 | 56,962 | 18,751 | 32.9% |
2000 | 48,043 | 12,268 | 25.5% |
Total amounts drawn by loan component
Source: Ministry of Social Development Refer to Figure 8, Chapter 2, Page 18 of the Student Loan Scheme Annual Report 2019/20 |
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Year | Course Fees | Living Costs | Course-related Costs |
---|---|---|---|
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 | $65,008,000 |
Average and median amounts borrowed by loan component
This table is produced online only
Source: Ministry of Social Development This is a supporting table for Figure 8, Chapter 2, Page 18 of the Student Loan Scheme Annual Report 2019/20 |
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2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|---|---|---|---|---|
Course fees ($) | ||||||||||
Average | 5,076 | 5,441 | 5,571 | 5,850 | 6,074 | 6,323 | 6,453 | 6,558 | 6,662 | 6,853 |
Median | 5,084 | 5,422 | 5,666 | 5,925 | 6,189 | 6,426 | 6,610 | 6,758 | 6,790 | 6,977 |
Living costs ($) | ||||||||||
Average | 3,832 | 3,710 | 3,774 | 3,944 | 4,036 | 4,179 | 4,259 | 4,351 | 5,513 | 5,796 |
Median | 3,851 | 3,537 | 3,599 | 3,800 | 3,958 | 4,250 | 4,460 | 4,643 | 5,983 | 6,460 |
Course-related costs ($) | ||||||||||
Average | 992 | 990 | 988 | 988 | 987 | 988 | 985 | 982 | 981 | 981 |
Median | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
Component of lending by sub-sector
2019 | Subsector |
Number of borrowers |
Borrowing amount million ($) |
Average borrowing ($) |
---|---|---|---|---|
Source: Ministry of Social Development. Refer to Table 4, Chapter 2, Page 18 of the Student Loan Scheme Annual Report 2019/20 Notes:
|
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Course fees | University | 81,720 | 608 | 7,441 |
Polytechnic | 30,996 | 161 | 5,186 | |
Wānanga | 1,580 | 6 | 4,007 | |
PTE | 12,092 | 91 | 7,518 | |
Total (StudyLink) | 126,388 | 866 | 6,853 | |
Course-related costs | University | 57,241 | 56 | 970 |
Polytechnic | 24,846 | 25 | 991 | |
Wānanga | 2,575 | 3 | 999 | |
PTE | 10,913 | 11 | 1,014 | |
Total (StudyLink) | 95,575 | 94 | 981 | |
Living costs | University | 59,294 | 375 | 6,329 |
Polytechnic | 17,259 | 84 | 4,842 | |
Wānanga | 1,279 | 7 | 5,220 | |
PTE | 9,087 | 41 | 4,527 | |
Total (StudyLink) | 86,907 | 507 | 5,830 | |
Totals | University | 93,838 | 1,039 | 11,071 |
Polytechnic | 36,156 | 269 | 7,439 | |
Wānanga | 3,008 | 16 | 5,179 | |
PTE | 16,221 | 143 | 8,823 | |
Total (StudyLink) | 149,229 | 1,467 | 9,827 |
Average course fees borrowed by sub-sector
This table is produced online only
2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Source: Ministry of Social Development This is a supporting table for Table 4, Chapter 2, Page 18 of the Student Loan Scheme Annual Report 2019/20 Notes:
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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 |
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 |
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 |
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 |
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, Chapter 2, Page 18 of the Student Loan Scheme Annual Report 2019/20 Notes:
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Qualification level n= number of borrowers $ avg = average amount borrowed |
2017 | 2018 | 2019 | |||
---|---|---|---|---|---|---|
n | $ avg | n | $ avg | n | $ avg | |
1,433 | 8,684 | 1,445 | 10,120 | 1,451 | 9,625 | |
Masters, honours, postgraduates certificates and postgraduate diplomas | 21,448 | 10,597 | 21,187 | 10,979 | 21,450 | 11,361 |
Bachelors degrees, graduate certificates and graduate diplomas | 100,649 | 10,010 | 93,444 | 10,271 | 91,656 | 10,781 |
Level 5–7 certificates/diplomas | 17,422 | 8,274 | 16,092 | 8,058 | 15,101 | 8,173 |
Level 1–4 certificates | 29,033 | 6,067 | 22,409 | 5,138 | 19,539 | 5,274 |
Other | 52 | 5,112 | 31 | 4,011 | 32 | 3,797 |
Total borrower numbers | 170,037 | 154,608 | 149,229 | |||
Average borrowed for all qualifications | 9,220 | 9,391 | 9,867 |
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 2019/20 tax year, full-time students could borrow up to $239.76 a week for living costs from the loan scheme, less any student allowances they received. The maximum entitlement is adjusted for inflation on 1 April each year.
In 2019:
- 22,785 students received student allowances and also used the loan scheme for living costs. This was a decrease of 5.4 percent from 2018
- 39,710 students used a student allowance only. A reduction of 2.3 percent from 2018.
Number of students borrowing for living cost and receiving student allowances
This table is produced online only
2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2016 | 2018 | 2019 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Source: Ministry of Social Development and Ministry of Education This is a supporting table for Table 4, Chapter 2, Page 18 of the Student Loan Scheme Annual Report 2019/20 |
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Student allowances only | 42,174 | 40,332 | 38,350 | 39,487 | 40,363 | 42,796 | 52,334 | 61,192 | 60,320 | 57,145 | 47,210 | 44,588 | 43,521 | 41,878 | 39,289 | 40,633 | 39,710 |
Student allowances and living costs | 21,862 | 20,494 | 18,456 | 19,944 | 22,116 | 22,906 | 30,299 | 34,753 | 38,951 | 39,763 | 37,889 | 35,084 | 31,530 | 29,150 | 26,063 | 24,095 | 22,785 |
Living costs only | 57,785 | 57,396 | 55,580 | 61,315 | 65,059 | 65,944 | 66,930 | 66,776 | 62,020 | 61,285 | 65,741 | 68,310 | 69,122 | 68,845 | 68,098 | 66,172 | 64,122 |
Student allowances compared with student loan living cost borrowing
This table is produced online only
2019 | Number of students | Average allowances ($) |
Average living costs loan ($) |
Average allowances and living costs loan ($) |
---|---|---|---|---|
Source: Ministry of Social Development This is a supporting table for Table 4, Chapter 2, Page 18 of the Student Loan Scheme Annual Report 2019/20 |
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Student allowances only | 39,710 | 10,274 | 10,274 | |
Student allowances and living costs loan | 22,785 | 8,144 | 2,625 | 10,769 |
Living costs loan only | 64,122 | 6,923 | 6,923 |
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
The quartiles of actual and forecast repayment times shows that average amounts borrowed at a higher-level of qualification are similar while those borrowers who studied at a higher level tend to pay their loans off more quickly.
Median Debt and forecast repayment time for leavers
2018 | Median leaving balance ($) | Median post-study repayment time (years) | |
---|---|---|---|
Source: Stats NZ IDI and Ministry of Education Student Loans Integrated Model Refer to Table 5, Chapter 2, Page 19 of the Student Loan Scheme Annual Report 2019/20 Notes:
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All | Level 1-4 certificates | 9,850 | 8.3 |
Level 5-7 diplomas | 19,610 | 9.0 | |
Bachelors and graduate certificates / diplomas | 34,530 | 9.2 | |
Postgraduate | 38,770 | 7.5 | |
Male | Level 1-4 certificates | 8,570 | 6.6 |
Level 5-7 diplomas | 20,290 | 8.2 | |
Bachelors and graduate certificates / diplomas | 35,520 | 8.7 | |
Postgraduate | 45,040 | 7.9 | |
Female | Level 1-4 certificates | 10,700 | 9.5 |
Level 5-7 diplomas | 19,380 | 9.5 | |
Bachelors and graduate certificates / diplomas | 33,940 | 9.5 | |
Postgraduate | 34,390 | 7.3 |
Median leaving debt and repayment time by ethnicity and level of study for leavers in 2018
This table is produced online only
Cert1-4 | CertsDip5-7 | Bachelors | PostGrad | All Levels | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | |||
Source: Stats NZ IDI and Ministry of Education Student Loans Integrated Model Notes:
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European | 10,167 | 7.6 | 9,620 | 6,351 | 8.1 | 17,900 | 17,724 | 8.5 | 30,230 | 6,381 | 7.6 | 38,370 | 40,623 | 8.2 | 23,520 | ||
Māori | 9,711 | 11.9 | 10,110 | 2,469 | 10.5 | 16,710 | 4,227 | 9.8 | 26,230 | 1,086 | 8.4 | 32,570 | 17,490 | 10.7 | 15,220 | ||
Pasifika | 3,111 | 10.1 | 10,820 | 1,101 | 11.1 | 20,030 | 2,934 | 10.2 | 28,610 | 663 | 8.5 | 34,240 | 7,806 | 10.1 | 20,070 | ||
Asian | 1,215 | 7.5 | 9,950 | 909 | 7.9 | 17,550 | 4,134 | 8.2 | 28,590 | 1,680 | 7.2 | 35,560 | 7,944 | 7.9 | 26,230 |
Forecast repayments times for borrowers who left study in 2018
Repayment times (years) | ||||
---|---|---|---|---|
% of leavers | 25th percentile | median | 75th percentile | |
Source: Stats NZ IDI and Ministry of Education Student Loans Integrated Model Refer to Table 6, Chapter 2, Page 20 of the Student Loan Scheme Annual Report 2019/20 Notes:
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All | 100% | 4.6 | 8.6 | 14.7 |
By Gender | ||||
Male | 38.8% | 4.2 | 7.9 | 13.2 |
Female | 61.2% | 4.9 | 9.1 | 15.8 |
By level of study | ||||
Level 1-4 certificates | 3.8 | 9.2 | 21.2 | |
Level 5-7 certificates/diplomas | 4.2 | 8.7 | 15.9 | |
Bachelors and graduate certficates/diplomas | 5.3 | 8.6 | 13.1 | |
Postgraduate | 4.1 | 7.6 | 11.9 | |
By Ethnicity | ||||
European | 4.4 | 8.2 | 13.1 | |
Māori | 5.3 | 10.7 | 22.1 | |
Pasifika | 5.2 | 10.1 | 19.4 | |
Asian | 4.5 | 7.9 | 12.6 | |
By leaving debt band ($000) | ||||
<5 | 14.6% | 0.8 | 1.9 | 5.1 |
5-10 | 12.7% | 2.4 | 5.1 | 9.7 |
10-15 | 10.2% | 3.8 | 6.7 | 12.6 |
15-20 | 9.4% | 4.8 | 7.6 | 13.6 |
20-25 | 9.2% | 5.5 | 8.2 | 13.7 |
25-30 | 7.9% | 6.5 | 9.3 | 14.8 |
30-35 | 6.9% | 7.2 | 10.2 | 15.4 |
35-40 | 5.7% | 7.8 | 10.9 | 16.7 |
40-45 | 5.2% | 8.4 | 11.5 | 16.7 |
45-50 | 4.2% | 9.0 | 11.7 | 16.9 |
50-55 | 3.0% | 9.4 | 12.9 | 19.4 |
55-60 | 2.6% | 10.0 | 13.5 | 18.8 |
60-65 | 2.2% | 10.0 | 13.4 | 18.5 |
65-70 | 1.5% | 10.5 | 14.0 | 20.0 |
>70 | 4.6% | 12.6 | 17.0 | 25.4 |
By location | ||||
Always NZ based | 77.7% | 4.0 | 7.7 | 12.8 |
Not always NZ based | 22.3% | 7.5 | 12.7 | 24.8 |
Quartiles of actual and forecast repayment times
This table is produced online only
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 | |||||
Source: Stats NZ IDI and Ministry of Education Student Loans Integrated Model This is a supporting table for Table 6, Chapter 2, Page 20 of the Student Loan Scheme Annual Report 2019/20 Notes:
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2018 | 3.8 | 9.2 | 21.2 | 4.2 | 8.7 | 15.9 | 5.3 | 8.6 | 13.1 | 4.1 | 7.6 | 11.9 | |||||
2017 | 3.5 | 9.2 | 21.3 | 4.1 | 9 | 16.6 | 4.9 | 8.4 | 12.9 | 3.6 | 7.4 | 11.5 | |||||
2016 | 3.1 | 9 | 22.1 | 3.7 | 8.6 | 15.8 | 4.7 | 8.4 | 13 | 3.1 | 7.5 | 11.8 | |||||
2015 | 3.1 | 9 | 22.8 | 3.5 | 8.2 | 15.9 | 4.1 | 8.1 | 13 | 2.8 | 7 | 11.9 | |||||
2014 | 3 | 8.5 | 23.5 | 3.5 | 8.1 | 16.2 | 3.9 | 7.8 | 12.9 | 2.6 | 6.1 | 11.7 | |||||
2013 | 3 | 7.4 | 21.9 | 3.4 | 7.5 | 16.9 | 3.8 | 7.2 | 12.8 | 2.5 | 5.6 | 11.2 | |||||
2012 | 2.9 | 7 | 22.7 | 3.2 | 6.9 | 16.5 | 3.4 | 6.6 | 12.7 | 2.3 | 5.5 | 10.9 | |||||
2011 | 3.1 | 7.6 | 27.2 | 2.9 | 6.7 | 16.4 | 2.8 | 6.3 | 12.5 | 1.7 | 4.9 | 9.9 | |||||
2010 | 3.1 | 7.3 | 25.7 | 2.9 | 6.7 | 16.9 | 2.7 | 6.1 | 12.4 | 1.8 | 4.8 | 9.8 | |||||
2009 | 3.2 | 7.7 | 27 | 2.9 | 6.7 | 16.2 | 2.8 | 6.3 | 12.6 | 1.8 | 4.5 | 9.5 | |||||
2008 | 3.1 | 7.6 | 29.6 | 2.7 | 6.3 | 14.7 | 2.8 | 6 | 12.3 | 1.9 | 4.7 | 9.4 | |||||
2007 | 3 | 7.5 | 25.8 | 2.6 | 6.6 | 15.5 | 2.8 | 6.1 | 11.9 | 1.9 | 4.7 | 9.8 | |||||
2006 | 2.9 | 7.4 | 23.1 | 2.6 | 6.6 | 15.4 | 3 | 6.3 | 12.3 | 2.1 | 5.1 | 9.7 | |||||
2005 | 2.9 | 7.4 | 21.6 | 2.8 | 6.7 | 15.6 | 3 | 6.7 | 12.8 | 2.5 | 5.9 | 10.9 | |||||
2004 | 3 | 7.7 | 22 | 2.6 | 6.6 | 14.9 | 2.4 | 6.3 | 12.7 | 1.6 | 5 | 10.6 | |||||
2003 | 3.1 | 7.3 | 19.4 | 2.5 | 6.6 | 15.1 | 2 | 6.1 | 12.9 | 1.5 | 4.5 | 10.5 |
Repayment performance
Borrowers and balances
As at 30 June 2020, there were 692,486 student loan borrowers, compared with 708,518 at the same time last year, a reduction of 2.3 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.
Number of borrowers
Year | All borrowers | NZB | OBB | Overall # change | Overall % change |
---|---|---|---|---|---|
Source: Inland Revenue Refer to Figure 9, Chapter 3, Page 23 of the Student Loan Scheme Annual Report 2019/20 |
|||||
2020 | 692,486 | 584,212 | 108,274 | -16,032 | -2.3% |
2019 | 708,518 | 599,678 | 108,840 | -10,669 | -1.5% |
2018 | 719,187 | 610,832 | 108,355 | -13,786 | -1.9% |
2017 | 732,973 | 622,479 | 110,494 | 1,219 | 0.2% |
2016 | 731,754 | 621,015 | 110,739 | 3,406 | 0.5% |
2015 | 728,348 | 617,754 | 110,594 | 6,911 | 1.0% |
2014 | 721,437 | 611,960 | 109,477 | 10,469 | 1.5% |
2013 | 710,968 | 603,965 | 107,003 | 9,736 | 1.4% |
2012 | 701,232 | 600,137 | 101,095 | 80,074 | 12.9% |
2011 | 621,158 | 529,434 | 91,724 | 33,659 | 5.7% |
2010 | 587,499 | 502,362 | 85,137 | 25,700 | 4.6% |
2009 | 561,799 | 479,462 | 82,337 | 31,510 | 5.9% |
2008 | 530,289 | 453,512 | 76,777 | 31,030 | 6.2% |
2007 | 499,259 |
Age range of borrower groups
This table is produced online only
Age group | All Borrowers | NZ-based borrowers only | Overseas-based borrower only |
---|---|---|---|
Source: Inland Revenue This is a supporting table to Figure 9, Chapter 3, Page 23 of the Student Loan Scheme Annual Report 2019/20 |
|||
Under 18 | 238 | 238 | 0 |
18 | 3,786 | 3,784 | 2 |
19 | 14,754 | 14,713 | 41 |
20 | 23,718 | 23,580 | 138 |
21 | 27,557 | 27,197 | 360 |
22 | 30,472 | 29,734 | 738 |
23 | 32,007 | 30,623 | 1,384 |
24 | 31,917 | 29,840 | 2,077 |
25 | 31,719 | 29,038 | 2,681 |
26 | 31,087 | 27,795 | 3,292 |
27 | 30,415 | 26,483 | 3,932 |
28 | 29,117 | 24,732 | 4,385 |
29 | 28,243 | 23,574 | 4,669 |
30 | 26,268 | 21,498 | 4,770 |
31 | 23,811 | 19,312 | 4,499 |
32 | 21,869 | 17,576 | 4,293 |
33 | 19,784 | 15,894 | 3,890 |
34 | 18,145 | 14,362 | 3,783 |
35 | 16,820 | 13,232 | 3,588 |
36 | 16,213 | 12,599 | 3,614 |
37 | 15,547 | 11,765 | 3,782 |
38 | 14,995 | 11,262 | 3,733 |
39 | 14,299 | 10,686 | 3,613 |
40 | 13,352 | 9,780 | 3,572 |
41 | 13,194 | 9,704 | 3,490 |
42 | 12,518 | 9,059 | 3,459 |
43 | 11,847 | 8,530 | 3,317 |
44 | 11,131 | 7,959 | 3,172 |
45 | 10,575 | 7,567 | 3,008 |
46 | 9,901 | 7,096 | 2,805 |
47 | 8,931 | 6,560 | 2,371 |
48 | 8,416 | 6,387 | 2,029 |
49 | 7,559 | 5,830 | 1,729 |
50 | 6,760 | 5,242 | 1,518 |
51 | 6,225 | 4,900 | 1,325 |
52 | 5,803 | 4,548 | 1,255 |
53 | 5,331 | 4,201 | 1,130 |
54 | 4,819 | 3,851 | 968 |
55 | 4,745 | 3,742 | 1,003 |
56 | 4,331 | 3,459 | 872 |
57 | 4,350 | 3,484 | 866 |
58 | 4,069 | 3,282 | 787 |
59 | 3,567 | 2,876 | 691 |
60 | 3,188 | 2,592 | 596 |
61 | 2,794 | 2,348 | 446 |
62 | 2,543 | 2,099 | 444 |
63 | 2,327 | 1,930 | 397 |
64 | 2,206 | 1,838 | 368 |
65+ | 19,223 | 15,831 | 3,392 |
Grand Total | 692,486 | 584,212 | 108,274 |
The borrower base - 692,486 borrowers, owe a total nominal balance of $16,135m. 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 2020;
- 56 percent of overseas-based borrows have loan balances over $20,000 compared with 41 percent of New Zealand-based borrowers
- 20 percent of overseas-based borrowers have loans over $50,000 compared to 9.4 percent of New Zealand-based borrowers.
The comparison of both New Zealand-based and overseas-based borrowers by activity over the last five years uses the following activity segments:
- Borrowing – those who are currently borrowing from the scheme
- Borrowing and repaying – those who are borrowing but their income is above the repayment threshold so they are repaying previously drawn loans or making voluntary repayments
- Repaying – those who have completed study and are repaying their loans
- Inactive participants – those who have a positive loan balance but did not interact with the scheme in the last financial year
Points to note are:
- There is a smaller borrower base who are borrowing and/or making repayments
- Less repayments being made by both cohorts
- The number of inactive borrowers for both cohorts has decreased
Aggregated nominal balance
Year | Balance ($m) | $m increase | % increase |
---|---|---|---|
Source: Inland Revenue Refer to Figure 10, Chapter 3, Page 23 of the Student Loan Scheme Annual Report 2019/20 |
|||
2020 | 16,135 | 101 | 0.6% |
2019 | 16,034 | 165 | 1.0% |
2018 | 15,869 | 134 | 0.9% |
2017 | 15,735 | 395 | 2.6% |
2016 | 15,340 | 503 | 3.4% |
2015 | 14,837 | 602 | 4.2% |
2014 | 14,235 | 673 | 5.0% |
2013 | 13,562 | 593 | 4.6% |
2012 | 12,969 | 899 | 7.4% |
2011 | 12,070 | 925 | 8.3% |
2010 | 11,145 | 886 | 8.6% |
2009 | 10,259 | 686 | 7.2% |
2008 | 9,573 | 161 | 1.7% |
2007 | 9,412 | 1,042 | 12.4% |
2006 | 8,370 |
Average and median loan balances
This table is produced online only
Year | Average ($) | Median ($) |
---|---|---|
Source: Inland Revenue This is a supporting table to Figure 10, Chapter 3, Page 23 of the Student Loan Scheme Annual Report 2019/20 |
||
2020 | 23,307 | 16,422 |
2019 | 22,065 | 16,125 |
2018 | 21,467 | 15,938 |
2017 | 20,963 | 15,271 |
2016 | 20,371 | 14,904 |
2015 | 19,731 | 14,421 |
2014 | 19,076 | 13,882 |
2013 | 18,494 | 13,307 |
2012 | 17,276 | 12,849 |
2011 | 16,731 | 11,880 |
2010 | 16,213 | 11,399 |
2009 | 16,129 | 11,090 |
2008 | 16,833 | 10,883 |
Range and distribution of loan balances
Balance range | NZB | OBB | All borrowers | NZB | OBB |
---|---|---|---|---|---|
Source: Inland Revenue Refer to Figure 11, Chapter 3, Page 23 of the Student Loan Scheme Annual Report 2019/20 |
|||||
$1 - 1,999 | 44,502 | 4,407 | 48,909 | 7.6% | 4.1% |
$2,000 - 3,999 | 44,445 | 4,546 | 48,991 | 7.6% | 4.2% |
$4,000 - 5,999 | 43,761 | 4,910 | 48,671 | 7.5% | 4.5% |
$6,000 - 7,999 | 42,916 | 5,254 | 48,170 | 7.3% | 4.9% |
$8,000 - 9,999 | 37,997 | 5,380 | 43,377 | 6.5% | 5.0% |
$10,000 - 14,999 | 73,674 | 13,048 | 86,722 | 12.6% | 12.1% |
$15,000 - 19,999 | 59,052 | 10,597 | 69,649 | 10.1% | 9.8% |
$20,000 - 24,999 | 49,933 | 9,630 | 59,563 | 8.5% | 8.9% |
$25,000 - 29,999 | 38,753 | 8,160 | 46,913 | 6.6% | 7.5% |
$30,000 - 34,999 | 31,523 | 6,733 | 38,256 | 5.4% | 6.2% |
$35,000 - 39,999 | 26,157 | 5,544 | 31,701 | 4.5% | 5.1% |
$40,000 - 44,999 | 20,811 | 4,735 | 25,546 | 3.6% | 4.4% |
$45,000 - 49,999 | 15,768 | 3,776 | 19,544 | 2.7% | 3.5% |
$50,000 - 54,999 | 12,203 | 3,449 | 15,652 | 2.1% | 3.2% |
$55,000 - 59,999 | 9,864 | 2,811 | 12,675 | 1.7% | 2.6% |
$60,000 - 79,999 | 21,438 | 6,915 | 28,353 | 3.7% | 6.4% |
$80,000 - 99,999 | 6,952 | 3,551 | 10,503 | 1.2% | 3.3% |
$100,000 - 119,999 | 2,571 | 1,951 | 4,522 | 0.4% | 1.8% |
$120,000 - 139,999 | 1,150 | 1,191 | 2,341 | 0.2% | 1.1% |
> $139,999 | 742 | 1,686 | 2,428 | 0.1% | 1.6% |
Total | 584,212 | 108,274 | 692,486 | 100% | 100% |
Borrower numbers by activity
This table is produced online only
2015/16 | 2016/17 | 2017/18 | 2018/19 | ||
---|---|---|---|---|---|
Source: Inland Revenue This is a supporting table to Figure 11, Chapter 3, Page 23 of the Student Loan Scheme Annual Report 2019/20 Notes:
|
|||||
New Zealand-based borrowers | Borrowing | 104,848 | 96,070 | 78,677 | 74,800 |
Borrowing and repaying | 88,766 | 90,153 | 91,731 | 88,105 | |
Repaying | 301,189 | 309,590 | 317,654 | 315,448 | |
Inactive | 171,847 | 171,972 | 171,663 | 170,538 | |
Overseas-based borrowers | Repaying | 48,242 | 51,207 | 52,038 | 50,478 |
Inactive | 63,660 | 61,242 | 58,680 | 60,054 | |
Total | 778,552 | 780,234 | 770,443 | 759,423 |
Borrower segments
Summary of student loans at 30 June
2018 | 2019 | 2020 | |
---|---|---|---|
Number of borrowers | 610,832 | 599,678 | 584,212 |
Nominal balance ($m) | 12,550 | 12,607 | 12,611 |
Median loan ($) | 15,064 | 15,101 | 15,585 |
Average loan ($) | 20,546 | 21,024 | 21,697 |
2018 | 2019 | 2020 | |
---|---|---|---|
Number of borrowers | 108,355 | 108,840 | 108,274 |
Nominal balance ($m) | 3,318 | 3,426 | 3,524 |
Median loan ($) | 21,924 | 22,448 | 23,366 |
Average loan ($) | 30,624 | 31,481 | 32,528 |
2018 | 2019 | 2020 | |
---|---|---|---|
Source: Inland Revenue Refer to Tables 8-10, Chapter 3, Page 24 of the Student Loan Scheme Annual Report 2019/20 |
|||
Number of borrowers | 719,187 | 708,518 | 692,486 |
Nominal balance ($m) | 15,869 | 16,034 | 16,135 |
Median loan ($) | 15,938 | 16,125 | 16,422 |
Average loan ($) | 22,065 | 22,630 | 23,307 |
Loan repayments
Overall loan repayments have continued to increase. However, repayments through the PAYE system show an increase of 9.7% ($96.6m). This increase reflects the movement of the Scheme accounts to Inland Revenue’s new platform in 2020. This meant student loan repayments made through the PAYE system are now accounted for earlier than in previous years. An additional $70m was attributed to the 2019/20 year as a result of this move. Table 7.1 Loan repayments direct from borrowers shows a breakdown of payments directly from New Zealand-based and overseas-based borrowers.
Loan repayments
Repayments | 2017/18 | 2018/19 | 2019/20 | |
---|---|---|---|---|
$million | ||||
Source: Inland Revenue Refer to Table 7, Chapter 3, Page 24 of the Student Loan Scheme Annual Report 2019/20 |
||||
PAYE | $960.7 | $996.2 | $1,092.8 | |
From borrower | $387.4 | $374.5 | $384.4 | |
Total | $1,348.1 | $1,370.7 | $1,477.2 | |
Annual % change | ||||
PAYE | 7.3% | 3.7% | 9.7% | |
From borrower | 2.6% | -3.3% | 2.7% | |
Total | 5.9% | 1.7% | 7.8% |
Loan repayments directly from borrowers
This table is produced online only
2017/18 | 2018/19 | 2019/20 | |
---|---|---|---|
Source: Inland Revenue This is a supporting table for Table 7, Chapter 3, Page 24 of the Student Loan Scheme Annual Report 2019/20 |
|||
New Zealand-based | |||
$million | 166.1 | 168.2 | 172.8 |
Annual % change | 2.2% | 1.3% | 2.7% |
Overseas-based | |||
$million | 221.3 | 206.3 | 211.6 |
Annual % change | 3.0% | -6.8% | 2.6% |
Total | |||
$million | 387.4 | 374.5 | 384.4 |
Annual % change | 2.6% | -3.3% | 2.6% |
Overdue repayments
Student loan repayments become overdue when borrowers do not meet their repayment obligation by the due date. Overall, the number of borrowers with overdue repayments reduced slightly in 2020. The total amount overdue increased by 6.6 percent on the previous year. Overseas-based borrower default continues to impact on the overall level of default. The amount in default increases as late payment interest is added to overdue amounts. The longer borrowers are out of New Zealand the less engaged they are with their student loans. Overdue amounts continue to increase for both New Zealand-based (0.9%) and overseas-based borrowers (7.2%). New Zealand-based borrower default is mostly affected by returning overseas-based borrowers whose default is recorded as New Zealand-based once the borrower has been in New Zealand for more than six months. From April 2020 any unpaid amount after 30 September is now treated as an overdue amount, unpaid amounts for the 30 Sept due date are now reported as debt after the due date, rather than waiting until 31 March. Late payment interest is still only applied after 31 March.
Overdue repayments
Overdue repayments | 2018 | 2019 | 2020 |
% Change 2019-20 |
---|---|---|---|---|
Source: Inland Revenue Refer to Table 11, Chapter 3, Page 25 of the Student Loan Scheme Annual Report 2019/20 |
||||
New Zealand-based | ||||
Overdue amount ($m) | 116.2 | 131.9 | 133.1 | 0.9% |
No. of borrowers | 26,021 | 28,221 | 29,389 | 4.1% |
Average amount outstanding ($) | 4,466.0 | 4,673.2 | 4,527.4 | -3.1% |
Overseas-based | ||||
Overdue amount ($m) | 1,205.2 | 1,349.2 | 1,446.2 | 7.2% |
No. of borrowers | 75,375 | 75,882 | 74,215 | -2.2% |
Average amount outstanding ($) | 15,990.0 | 17,779.6 | 19,486.1 | 9.6% |
Total/overall | ||||
Overdue amount ($m) | 1,321.5 | 1,481.0 | 1,579.2 | 6.6% |
No. of borrowers | 101,396 | 104,103 | 103,604 | -0.5% |
Average amount outstanding ($) | 13,032.6 | 14,226.8 | 15,242.8 | 7.1% |
Age and location of overdue repayments
2016 | 2017 | 2018 | 2019 | 2020 | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Age of overdue repayments |
$ million | % | $ million | % | $ million | % | $ million | % | $ million | % |
0-1 month | 5.3 | 5.8% | 3.6 | 3.6% | 4.9 | 4.3% | 4.5 | 3.4% | 1.0 | 0.7% |
2-3 months | 12.9 | 14.1% | 12.4 | 12.4% | 13.1 | 11.3% | 13.2 | 10.0% | 10.4 | 7.8% |
4-6 months | 3.9 | 4.3% | 3.9 | 3.9% | 4.4 | 3.8% | 4.6 | 3.5% | 4.6 | 3.5% |
7-12 months | 4.1 | 4.5% | 4.4 | 4.4% | 4.0 | 3.5% | 5.4 | 4.1% | 1.9 | 1.4% |
1-2 years | 13.5 | 14.8% | 14.6 | 14.7% | 15.4 | 13.3% | 15.1 | 11.4% | 17.7 | 13.3% |
2-5 years | 20.0 | 22.0% | 26.5 | 26.6% | 34.4 | 29.6% | 39.7 | 30.1% | 39.4 | 29.6% |
>5 years | 31.4 | 34.5% | 34.0 | 34.2% | 40.0 | 34.4% | 49.4 | 37.5% | 58.1 | 43.7% |
Total | 91.2 | 100.0% | 99.3 | 100.0% | 116.2 | 100.0% | 131.9 | 100.0% | 133.1 | 100.0% |
2016 | 2017 | 2018 | 2019 | 2020 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Age of overdue repayments |
$ million | % | $ million | % | $ million | % | $ million | % | $ million | % | |
Source: Inland Revenue Refer to Table 12, Chapter 3, Page 25 of the Student Loan Scheme Annual Report 2019/20 |
|||||||||||
0-1 month | 3.9 | 0.4% | 3.1 | 0.3% | 3.5 | 0.3% | 2.7 | 0.2% | 0.4 | 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% | |
4-6 months | 5.3 | 0.5% | 3.3 | 0.3% | 4.8 | 0.4% | 2.5 | 0.2% | 2.0 | 0.1% | |
7-12 months | 7.9 | 0.8% | 9.1 | 0.8% | 6.3 | 0.5% | 16.9 | 1.3% | 65.1 | 4.5% | |
1-2 years | 153.3 | 15.6% | 152.9 | 13.8% | 148.5 | 12.3% | 148.3 | 11.0% | 131.6 | 9.1% | |
2-5 years | 310.7 | 31.6% | 356.4 | 32.2% | 385.4 | 32.0% | 411.3 | 30.5% | 405.4 | 28.0% | |
>5 years | 345.7 | 35.2% | 427.8 | 38.6% | 508.0 | 42.1% | 624.5 | 46.3% | 769.8 | 53.2% | |
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% |
Number of loans fully repaid
Year | Loans repaid |
---|---|
Source: Inland Revenue Refer to Figure 12, Chapter 3, Page 26 of the Student Loan Scheme Annual Report 2019/20 Note: Historical data can be changed because loans can be booked to previous tax years when they are repaid. |
|
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 |
Write off due to death, bankruptcy or fraud
Write-offs | 2017/18 | 2018/19 | 2019/20 |
---|---|---|---|
$millions | |||
Source: Inland Revenue Refer to Table 13, Chapter 3, Page 26 of the Student Loan Scheme Annual Report 2019/20 |
|||
Bankruptcy | 32.2 | 23.6 | 13.6 |
Death | 31.1 | 25.7 | 30.8 |
Fraud | 0.26 | ||
Borrowers | |||
Bankruptcy | 827 | 835 | 1,054 |
Death | 2,605 | 1,803 | 1,898 |
Fraud | <5 |
Funding
Summary of student loans at 30 June
At 30 June | 2016 | 2017 | 2018 | 2019 | 2020 |
---|---|---|---|---|---|
$ millions | |||||
Source: Ministry of Education Refer to Figure 13, Chapter 4, Page 28 of the Student Loan Scheme Annual Report 2019/20 |
|||||
Impairment | -89 | 45 | 103 | 211 | -476 |
Discount rate | 408 | -140 | 190 | 734 | 343 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$millions | |||||||||||||||
Source: Ministry of Education Refer to Figure 14, Chapter 4, Page 29 of the Student Loan Scheme Annual Report 2019/20 |
|||||||||||||||
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 |
Initial fair value write-down | 328 | 488 | 487 | 532 | 728 | 713 | 702 | 536 | 629 | 602 | 659 | 662 | 594 | 563 | 506 |
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 | 43.3 | 44.58 | 44.43 | 41.4 | 35.82 |
Average cost of lending in cents per dollar lent
This table is produced online only
2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec | Jan-Jun | July-Dec |
Source: Valuation of the Student Loan Scheme This is a supporting table to Table 17, Chapter 4, Page 32 of the Student Loan Scheme Annual Report 2019/20 |
|||||||||||||||||||||||||
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 | ** |
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 | |||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$millions | |||||||||||||||||
Source: Ministry of Education Refer to Figure 15, Chapter 4, Page 30 of the Student Loan Scheme Annual Report 2019/20 |
|||||||||||||||||
New lending | 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 | ||
Repayment | -486 | -486 | -550 | -619 | -652 | -691 | -767 | -1,054 | -1,032 | -1,114 | -1,209 | -1,273 | -1,348 | -1,371 | -1,477 | ||
Net cash out | 495 | 621 | 572 | 640 | 771 | 762 | 710 | 416 | 479 | 404 | 303 | 202 | -20 | -20 | -73 |
Government’s cost of ownership of the Student Loan Scheme
Source: Ministry of Education Refer to Table 14, Chapter 4, Page 30 of the Student Loan Scheme Annual Report 2019/20 |
|
Fair value of the asset | $ 10,395 million |
Discount rate for the asset | 4.03% |
Cost of capital associated with the Student Loan Scheme 2020/2021 | $419 million |
Agency Costs
2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |||||
---|---|---|---|---|---|---|---|---|---|---|---|
$ million | |||||||||||
Source: Ministry of Social Development, Inland Revenue, Ministry of Education and Stats NZ. Refer to Table 15, Chapter 4, Page 31 of the Student Loan Scheme Annual Report 2019/20 Note: All amounts exclude GST. |
|||||||||||
Ministry of Social Development | 16.2 | 13.4 | 15.0 | 15.1 | 16.5 | 16.8 | 18.0 | ||||
Inland Revenue | 33.5 | 33.9 | 36.1 | 37.8 | 38.7 | 40.0 | 39.8 | ||||
Ministry of Education | 0.7 | 0.7 | 0.8 | 0.8 | 0.9 | 0.8 | 1.0 | ||||
Statistics New Zealand | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.9 | 0.9 | ||||
Gross agency cost | 51.1 | 48.7 | 52.6 | 54.4 | 56.9 | 58.5 | 59.7 |
Estimated Cost Ratios
2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |
---|---|---|---|---|---|
Cents per dollar | |||||
Source: Ministry of Social Development, Inland Revenue, Ministry of Education and Stats NZ. Refer to Table 16, Chapter 4, Page 31 of the Student Loan Scheme Annual Report 2019/20 Note: All amounts exclude GST. |
|||||
Ministry of Social Development cost of each dollar advanced | 0.99 | 1.02 | 1.24 | 1.24 | 1.28 |
Inland Revenue cost of each dollar collected | 2.99 | 2.97 | 2.87 | 2.92 | 2.69 |
Percentage | |||||
Total cost as a percentage of turnover | 1.93% | 1.98% | 2.13% | 2.15% | 2.07% |
Nominal and carrying value movements
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 | |||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Notes | $million - actual | ||||||||||||||||||
Source: Ministry of Education and Inland Revenue Refer to Table 17, Chapter 4, Page 32 of the Student Loan Scheme Annual Report 2019/20 Notes:
|
|||||||||||||||||||
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 | |||
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 | |||
Establishment fee | 4 | 8 | 9 | 9 | 10 | 11 | 12 | 12 | 11 | 11 | 11 | 10 | 10 | 9 | 9 | 9 | |||
Administration fee | 5 | 20 | 21 | 22 | 22 | 23 | 23 | 23 | 23 | 24 | |||||||||
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 | |||
Interest | 2, 7, 10 | 14 | 119 | 142 | 133 | 156 | 151 | 141 | 135 | 120 | 111 | 110 | 87 | ||||||
Penalties | 2, 10 | 42 | 16 | 45 | 50 | 43 | 49 | 58 | 64 | 72 | 74 | 92 | 98 | ||||||
Voluntary Repayment Bonus | 0 | -5 | -17 | -16 | -32 | -14 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Death Write-off | 11 | -4 | -2 | -10 | -9 | -11 | -9 | -10 | -13 | -9 | -19 | -15 | -13 | -31 | -26 | -31 | |||
Bankruptcy write-off | 11 | -11 | -9 | -16 | -11 | -15 | -10 | -12 | -9 | -15 | -16 | -18 | -20 | -32 | -24 | -14 | |||
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 | ||||
Carrying value | |||||||||||||||||||
Open balance | 12 | 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 | |||
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 | |||
Initial write-down on new borrowing | 9 | -328 | -488 | -487 | -532 | -728 | -713 | -702 | -536 | -629 | -602 | -659 | -662 | -594 | -563 | -506 | |||
Initial write-down | -1,415 | ||||||||||||||||||
Establishment fee | 8 | 9 | 9 | 10 | 11 | 12 | 12 | 11 | 11 | 11 | 10 | 10 | 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 | ||||
Interest unwind | 358 | 451 | 406 | 473 | 463 | 484 | 526 | 590 | 579 | 604 | 603 | 602 | 604 | 394 | 331 | ||||
Impairment | -13 | -151 | 231 | -779 | -280 | 124 | 286 | -484 | -12 | -269 | -140 | 62 | 106 | 211 | -476 | ||||
Repayment collection allowance | 36 | 36 | |||||||||||||||||
Discount rate changes | 734 | 343 | |||||||||||||||||
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 | ||||
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 |
Student allowancesUpdated: Aug-2020
Statistics relating to the number and types of students receiving Student Allowances, and the amounts received.
- Student allowances 2019 [MS Excel 342kB]