Financial support for tertiary students

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

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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

Source: Te Tāhuhu o te Mātauranga | Ministry of Education, Te Manatū Whakahiato ora | Ministry of Social Development, Te Amorangi Mātauranga Matua | Tertiary Education Commission and Te Tari Taake | Inland Revenue.
Refer to Table 1, Part 1, Page 15 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. This table presents expenditure on a calendar-year basis. Prior to last year's edition of the Student Loan Scheme Annual Report, this was presented on a fiscal-year basis. Government expenditure on tuition subsidies and Fees Free for practical purposes, can only be split into provider-based and workplace-based expenditure on a calendar-year basis. This table presents expenditure on provider-based tertiary education tuition subsidies and Fees Free.
  2. Fees Free represents the amount spent on paying tuition fees for Fees Free eligible students via the first-year Fees Free policy and the Targeted Training and Apprenticeship Fund (TTAF). The amount here only includes funding for students enrolled in provider-based tertiary education. TTAF ended in December 2022.
  3. The following items of expenditure are not covered: industry training, community education, scholarships, Youth Guarantee, Centres of Research Excellence, funds for the administration of the tertiary education system, Performance-based Research Fund (PBRF) and capital expenditure Performance-Based Research Fund (PBRF) and capital expenditure.
Government expenditure 2022 2023 2024
Expenditure ($ million)  Student loans - fair value write down on new borrowings $521 $522 $529
Student allowances $552 $524 $562
Tuition subsidies, Fees Free, TAFL, and HAFL $2,638 $2,452 $2,609
Total $3,771 $3,528 $3,699
Total as % of GDP 1.01% 0.88% 0.88%
Table F2: Median loan balance on leaving study
Table F2: Median loan balance on leaving study

Source:Tatauranga Aotearoa | Stats New Zealand IDI
Refer to Figure 2, Part 1, Page 16 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Shown is the median loan balance in dollars following the last year of study, and the same figure deflated to March 2001 dollars.
Year of last study Median loan balance Inflation adjusted Median loan balance 
2023  $ 24,067  $ 13,457
2022  $ 23,280  $ 13,541
2021  $ 21,513  $ 13,346
2020  $ 22,480  $ 14,914
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 balances for leavers by gender - all borrowers and those who studied at bachelors level
Table F2.1: Median loan balances for leavers by gender - all borrowers and those who studied at bachelors level

Source: Stats New Zealand IDI | Tatauranga Aotearoa
This is a supporting table for Figure 2, Part 1, Page 16 of the Student Loan Scheme Annual Report 2024/25
  All levels Bachelor level
Year of last study Male Female Male Female
  $ $ $ $
2023 24,843 23,736 29,302 29,267
2022 24,620 22,654 28,533 27,454
2021 22,758 20,859 29,329 27,546
2020 23,503 21,464 31,100 29,927
2019 22,405 20,705 30,713 29,032
2018 21,113 20,412 29,876 28,262
2017 18,329 18,303 27,538 26,456
2016 17,040 17,545 27,384 25,645
2015 16,510 16,492 26,314 24,448
2014 15,476 15,836 25,921 23,351
2013 14,634 14,928 25,012 22,313
2012 13,479 13,788 23,626 20,425
2011 12,998 12,795 22,382 18,946
2010 11,768 11,630 20,534 17,308
2009 11,095 11,252 19,905 17,148
2008 11,106 10,694 19,711 16,348
2007 10,653 10,209 18,377 15,352
2006 10,467 9,608 18,927 15,657
2005 10,625 9,735 19,153 16,115
2004 10,009 8,680 17,436 14,066
2003 9,761 8,731 16,301 13,652
Table F4: Percentage of borrowers who have fully repaid having left study in the year shown
Table F4: Percentage of borrowers who have fully repaid having left study in the year shown

Source: Tatauranga Aotearoa | Stats New Zealand IDI
Refer Figure 4, Part 1, Page 18 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. The leaving cohorts are those who last studied in 2003, 2007, 2011, 2015 and 2019, had borrowed from the Scheme, and had a student loan balance of more than $20 at 31 March in the following year.
  2. Full repayment is deemed to occur when the student loan balance has fallen to $20 or below.
Exit Year 2003 2007 2011 2015 2019
2023 84.0% 79.8% 75.0% 65.9% 43.7%
2022 82.9% 78.2% 72.7% 60.9% 35.1%
2021 81.9% 76.8% 70.4% 55.5% 27.4%
2020 80.8% 75.1% 67.6% 48.7% 18.7%
2019 79.4% 73.3% 64.0% 40.8% 9.1%
2018 77.8% 70.9% 59.5% 32.5%  
2017 75.6% 67.8% 54.1% 24.0%  
2016 74.0% 65.0% 48.3% 15.7%  
2015 72.1% 61.7% 41.9% 7.6%  
2014 69.8% 57.9% 35.1%    
2013 67.3% 53.5% 27.5%    
2012 64.3% 48.3% 19.6%    
2011 60.7% 42.0% 10.4%    
2010 57.1% 35.1%      
2009 53.3% 27.9%      
2008 48.5% 19.9%      
2007 43.0% 9.8%      
2006 36.8%        
2005 29.3%        
2004 22.7%        
2003 11.9%        

Earning potential

Five years after graduation the median income of those in the workforce with a bachelor’s degree was 22 percent higher the median income of New Zealanders of a similar age. For those with an Honours degree this earning premium was 33 percent.

Table F3: Earnings as a percentage of national median earnings by year after qualification
Table F3: Earnings as a percentage of national median earnings by year after qualification

Source: Tatauranga Aotearoa | Stats New Zealand IDI, Te Amorangi Mātauranga Matua | Tertiary Education Commission interpretation.
Refer to Figure 3, Part 1, Page 17 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Graduate earnings are attributed only to the highest qualification completed.
  2. Sources of data used to identify the highest qualification completed include the Single Data Return, Industry Training Register and New Zealand Qualifications Authority (NZQA) register.
  3. The definition of employed graduates and employed population is based on income from employed taxable sources. A person is considered employed if their yearly income in the 2024 tax year from employed sources exceeded $24,128 (one-half of the minimum wage over 52 weeks, with 40 working hours in a week).
  4. All earnings are measured in the 2024 tax year. Any negative earnings (income losses) were zeroed.
  5. 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.
  6. All median earnings were rounded to the nearest dollar. Percentages presented here are based on rounded earnings and are shown as whole numbers.
Qualification level Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Doctorates 129% 132% 142% 138% 140% 146% 145% 153% 152% 153%
Masters 116% 119% 120% 125% 131% 134% 138% 138% 136% 146%
Honours & postgraduate certificates/diplomas 122% 124% 126% 131% 133% 137% 135% 141% 142% 147%
Graduate certificates/diplomas 104% 106% 106% 107% 109% 112% 113% 118% 123% 123%
Bachelor degrees 112% 114% 116% 117% 122% 123% 126% 125% 127% 127%
Level 5-7 certificates/diplomas 95% 99% 99% 98% 99% 99% 99% 99% 98% 100%
Level 4 certificates 96% 109% 108% 110% 108% 107% 106% 104% 101% 101%
Level 1-3 certificates 105% 111% 113% 102% 101% 96% 97% 95% 94% 94%

Participation and borrowing

Participation

In 2024 domestic participation in provider-based tertiary education increased by 1 percent. This followed a long-term decline in participation, increases in 2020 and 2021, and further decreases in participation in 2022 and 2023. The changes since 2020 reflect the impacts of COVID-19 on actual and perceived labour market prospects.

Table F5: Enrolment by domestic students in tertiary education
Table F5: Enrolment by domestic students in tertiary education

Source: Te Tāhuhu o te Mātauranga | Ministry of Education
Refer to Figure 5, Part 1, Page 20 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Data relates to domestic students enrolled at any time during the year.
  2. Participation excludes industry training, non-government-funded private training establishments (PTEs), formal courses of a week or less, and all non-formal learning.
  3. The difference between student numbers and EFTS numbers relates to the proportion of part-time students enrolled and the study load they enrol for.
  4. These figures have been restated and so might not agree with previous annual reports.
Years Students EFTS
2024 350,640 218,767
2023 342,356 212,510
2022 343,058 218,080
2021 357,801 233,020
2020 327,901 212,340
2019 325,374 214,890
2018 336,419 220,700
2017 343,936 223,460
2016 354,016 231,050
2015 358,758 233,830
2014 363,630 240,010
2013 369,112 244,980
2012 372,991 245,810
2011 381,501 245,620
2010 418,147 254,520
2009 422,981 250,640
2008 418,657 235,120
2007 441,694 237,450
2006 445,476 235,440
2005 452,398 242,820
2004 432,733 243,120
2003 407,398 239,450
2002 379,819 224,120
2001 342,430 203,490
2000 314,616 190,530
1999 294,424 180,940
1998 259,277 160,120
1997 258,933 154,670
1996 260,527 148,270
1995 259,193 145,210
1994 245,918 139,770
Table T2: Participation by domestic students in tertiary education
Table T2: Participation by domestic students in tertiary education

Source: Te Tāhuhu o te Mātauranga | Ministry of Education
Refer to Table 2, Part 1, Page 21 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Data relates to domestic students enrolled at any time during the year.
  2. Participation excludes industry training, non-government-funded PTEs, formal courses of a week or less, and all non-formal learning.
  3. 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.
  4. Students are counted in each ethnic group they identify with, so the sum of the various ethnic groups may not add to the total.
  5. Data in this table, including totals, has been rounded so the sum of individual counts may not add to the total.
  6. Figures for historical years may differ to those published in previous Student Loan Annual Reports due to subsequent data updates.
Participation and completion 2022 2023 2024
Domestic studentsparticipating in tertiaryeducation Total (000) 344 347 351
20 years old and under  83 86 90
21-26 years old  97 95 94
27-50 years old  134 136 136
Over 50 years old  31 31 30
Female  210 205 207
Male  132 140 141
Another gender 2 2 3
Māori  71 74 78
Pacific people 34 34 36
European 215 211 208
Asian  63 66 70
Domestic studentscompleting qualifications (000) Non-degree  67 68 71
Bachelors  26 27 27
Postgraduate  16 15 17
Total  109 110 115

The proportion of borrowers enrolled at a bachelor degree level and higher has decreased in 2024 after years of increase, while Level 1 – 4 certificates increased in 2024 after a substantial decrease over the previous 12 years.

Table T2.1: Trends in level of study among borrowers in 2024
Table T2.1: Trends in level of study among borrowers in 2024
Qualification level Number of students
Level 1-3 Certificates  4,101
Level 4 Certificates  6,327
Level 5-7 Diplomas  10,179
Level 7 Bachelors  78,933
Level 8 Honours/Postgrad cert/dip  13,242
Level 9 Masters  7,722
Level 10 Doctorates  1,167
Missing  108
Total 121,779

Source: Te Manatū Whakahiato ora | Ministry of Social Development and Te Tāhuhu o te Mātauranga | Ministry of Education
This is a supporting table for Table 2, Part 1, Page 21 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Students studying for more than one qualification are listed under the highest.
  2. The counts of borrowers have been randomly rounded to base 3.
Qualification 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2023
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% 80.0% 84.1% 84.2% 83.0%
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% 10.8% 7.8% 7.5% 8.6%
Table T2.2: Trends in the age profile of borrowers
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 2021 2022 2023 2024
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 1,146 574 429 411 315 222 216 333
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 38,046 33,891 32,244 34,035
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 47,730 43,155 39,510 38,841
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 19,467 17,064 15,375 15,318
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 10,743 9,228 8,142 7,923
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 7,593 6,423 5,859 5,550
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 5,664 4,923 4,845 4,773
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 4,464 3,822 3,732 3,780
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 3,495 3,018 3,003 3,072
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 2,655 2,361 2,235 2,355
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 2,157 1,710 1,812 1,860
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 1,821 1,443 1,407 1,446
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 1,305 1,113 1,065 1,068
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 1,003 972 870 822 702 762 696
57 - 59  371 568 641 679 759 910 1,123 1,128 1,164 1,236 1,409 1,296 1,008 787 632 560 468 440 425 428 435 363 315 369 372
60 - 64  387 646 835 833 752 987 1,368 1,487 1,333 1,323 1,427 1,143 843 592 449 355 330 294 283 320 279 270 228 246 273
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 84 93 93 90
Total 128,107 148,142 150,526 156,250 157,032 154,411 167,420 173,791 178,533 198,738 212,485 207,330 201,187 192,257 186,477 182,537 176,938 170,037 154,608 149,229 148,905 146,994 129,711 120,918 121,782

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Table 2, Part 1, Page 21 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. The counts of borrowers from 2020 onwards have been randomly rounded to base 3.
  2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Borrowers aged 26 or younger 109,115 115,618 121,163 134,826 143,181 141,857 141,226 137,869 135,122 133,283 130,426 125,858 112,420 107,475 106,212 105,558 94,332 87,345 88,527
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% 71.8% 72.7% 72.2% 72.7%

Borrowing

Since 1992, 1.5 million students have borrowed a total of $35.8 billion through the Student Loan Scheme. In 2024 there were 121,779 borrowers. This is 861 more than the number who borrowed in 2023.

Table T3: Demographic characteristics of all active student loan borrowers
Table T3: Demographic characteristics of all active student loan borrowers

Source: Te Manatū Whakahiato ora | Ministry of Social Development
Refer to Table 3, Part 1, Page 23 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. All percentages are of all active borrowers.
  2. Active student loan borrowers are those who borrowed from the loan scheme in the calendar year.
  3. Borrowers can select more than one ethnic group, so the sum of all ethnic groups may not add to 100 percent.
  4. Other includes borrowers who identified themselves with three or more ethnic groups.
  5. The counts of borrowers have been randomly rounded to base 3 and may not appear to add. The age group counts are sums of individual age level counts which are each randomly rounded to base 3. This means there is additional uncertainity in these numbers.
All active borrowers 2023 2024 2023 - 2024 change
No. %
Total number   120,918 121,779 861 0.7%
Gender Female 75,855 75,435 -420 -0.6%
Male 43,866 44,844 978 2.2%
Another gender 1,197 1,500 303 25.3%
Age Average age 26 26    
Median age 22 22    
20 years and under 32,460 34,368 1,908 5.9%
21-26 years 54,885 54,159 -726 -1.3%
27-50 years 31,035 30,759 -276 -0.9%
Over 50 years 2,535 2,499 -36 -1.4%
20 years and under (%) 26.8 28.2    
21-26 years (%) 45.4 44.5    
27-50 years (%) 25.7 25.3    
Over 50 years (%) 2.1 2.1    
Ethnic group European (%) 64.2 63.7    
Māori (%) 16.4 17.1    
Pacific (%) 9.0 9.4    
Asian (%) 18.1 18.9    
Other (%) 4.7 4.9    
Table T3.1: Demographic characteristics of new active student loan borrowers
Table T3.1: Demographic characteristics of new active student loan borrowers

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Table 3, Part 1, Page 23 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. New active borrowers are those entering the loan scheme for the first time ever.
  2. Borrowers can select more than one ethnic group so the sum of all ethnic groups may not add to 100 percent.
  3. Other includes borrowers who identified themselves with three or more ethnic groups.
  4. All percentages are of total new active borrowers.
  5. The counts of borrowers have been randomly rounded to base 3 and may not appear to add. The age group counts are sums of smaller age range counts which are each randomly rounded to base 3. This means there is additional uncertainity in the age range counts.
New active borrowers 2023 2024 2023 - 2024 change
No. %
Total number   27,879 31,473 3,594 12.9%
Gender Female 16,233 18,288 2,055 12.7%
Male 11,286 12,777 1,491 13.2%
Another gender 360 408 48 13.3%
Age Average age 22 22    
Median age 20 20    
20 years and under 18,975 21,249 2,274 12.0%
21-26 years 5,079 6,180 1,101 21.7%
27-50 years 3,369 3,594 225 6.7%
Over 50 years 453 459 6 1.3%
20 years and under (%) 68.1 67.5    
21-26 years (%) 18.2 19.6    
27-50 years (%) 12.1 11.4    
Over 50 years (%) 1.6 1.5    
Ethnic group European (%) 63.8 62.3    
Māori (%) 14.9 16.3    
Pacific people (%) 8.6 9.5    
Asian (%) 21.2 20.8    
Other (%) 4.6 5.1    
Table F8: Borrowing trends since 1992
Table F8: Borrowing trends since 1992

Source: Te Manatū Whakahiato ora | Ministry of Social Development and Te Tāhuhu o te Mātauranga | Ministry of Education
Refer to Figure 8, Part 1, Page 28 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Borrowing includes establishment fees but does not take into account refunds to the Ministry of Social Development.
  2. The counts of borrowers from 2020 onwards has been randomly rounded to base 3.
  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 2021 2022 2023 2024
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 1,499 1,386 1,391 1,472
Borrowers 44,202 68,411 79,338 89,817 95,411 105,038 114,387 115,142 128,107 148,142 150,526 156,250 157,032 154,411 167,420 173,791 178,533 198,738 212,485 207,330 201,187 192,257 186,477 182,537 176,938 170,037 154,608 149,229 148,905 146,994 129,711 120,918 121,779
Table F8.1: Number of total active borrowers and new active borrowers in each academic year
Table F8.1: Number of total active borrowers and new active borrowers in each academic year

Source: Te Manatū Whakahiato ora | Ministry of Social Development and Tatauranga Aotearoa | Stats NZ IDI
This is a supporting table for Figure 8, Part 1, Page 28 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. 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.
  2. The counts of borrowers from 2020 onwards have been randomly rounded to base 3.
Year Total active borrowers New active borrowers
2024 121,779 31,473
2023 120,918 27,879
2022 129,711 28,128
2021 146,994 34,152
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 uptake rate of eligible full-time students decreased from 59 percent in 2023 to 58 percent in 2024. This follows a larger decrease from 70 percent in 2020. The part-time uptake rate this year is 25 percent, down from 26 percent in 2023 and from 30 percent in 2020.

The Average amounts borrowed by loan component over the last 10 years show that between 2014 and 2024;

  • average amounts borrowed for course fees increased by 31 percent
  • average amounts borrowed for living costs increased by 98 percent

In 2024:

  • average amount borrowed for course fees was $7,944. This is an increase of $306 or 4 percent on a year earlier
  • average amount borrowed for living costs was $7,979. This is an increase of $564 or 7.6 percent on year earlier
Table F6: Number of students eligible to borrow, number borrowing and the uptake rate
Table F6: Number of students eligible to borrow, number borrowing and the uptake rate (full-time and part-time students)

Source: Te Manatū Whakahiato ora | Ministry of Social Development and Te Tāhuhu o te Mātauranga | Ministry of Education
Refer to Figure 6, Part 1, Page 24 of the Student Loan Scheme Annual Report 2024/25

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
2024 178,963 104,087 58.2% 72,344 17,699 24.5%
2023 174,077 102,098 58.7% 72,769 18,820 25.9%
2022 181,925 109,285 60.1% 77,431 20,423 26.4%
2021 198,252 125,459 63.3% 77,845 21,542 27.7%
2020 181,580 127,583 70.3% 70,252 21,318 30.3%
2019 185,467 127,921 69.0% 64,184 21,308 33.2%
2018 186,119 133,863 71.9% 62,707 20,745 33.1%
2017 182,438 146,550 80.3% 64,211 23,487 36.6%
2016 188,566 152,561 80.9% 65,171 24,377 37.4%
2015 191,102 158,417 82.9% 64,706 24,120 37.3%
2014 194,704 162,850 83.6% 62,969 23,627 37.5%
2013 198,543 167,666 84.4% 61,919 24,591 39.7%
2012 211,135 174,187 82.5% 66,053 27,000 40.9%
2011 209,665 173,398 82.7% 69,189 33,932 49.0%
2010 216,482 176,314 81.4% 74,689 36,171 48.4%
2009 209,867 163,368 77.8% 75,315 35,370 47.0%
2008 193,328 145,491 75.3% 70,944 33,042 46.6%
2007 192,456 142,031 73.8% 72,162 31,760 44.0%
2006 187,706 136,483 72.7% 70,798 30,937 43.7%
2005 185,379 127,055 68.5% 72,382 27,356 37.8%
2004 178,601 131,407 73.6% 74,805 25,625 34.3%
2003 171,994 133,791 77.8% 61,422 22,459 36.6%
2002 183,735 133,559 72.7% 57,128 16,967 29.7%
2001 160,387 129,391 80.7% 56,962 18,751 32.9%
2000 145,308 115,839 79.7% 48,043 12,268 25.5%
Table F6.1: Number of students eligible to borrow
Table F6.1: Number of students eligible to borrow, number borrowing and the uptake rate

Source: Te Manatū Whakahiato ora | Ministry of Social Development and Te Tāhuhu o te Mātauranga | Ministry of Education
This is a supporting table for Figure 6, Part 1, Page 24 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Overall uptake rate reflects the mix of full-time and part-time students.
  2. The borrowing uptake figure from 2020 onwards has been randomly rounded to base 3.
Year Students eligible to borrow Borrowing uptake Uptake rate
2024 251,307 121,779 48.5%
2023 246,846 120,918 49.0%
2022 259,356 129,708 50.0%
2021 276,097 146,994 53.2%
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 F7: Total amounts drawn by loan component
Table F7: Total amounts drawn by loan component

Source: Te Manatū Whakahiato ora | Ministry of Social Development
Refer to Figure 7, Part 1, Page 25 of the Student Loan Scheme Annual Report 2024/25

Year Course Fees Living Costs Course-related Costs
2024 $819,867,180 $580,620,254 $64,727,155
2023 $795,737,763 $524,051,278 $64,597,147
2022 $802,501,741 $504,397,395 $72,021,979
2021 $874,331,603 $528,015,445 $87,935,086
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
Table 7.1: Average and median amounts borrowed by component

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Figure 7, Part 1, Page 25 of the Student Loan Scheme Annual Report 2024/25

  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Course fees ($)
Average 5,076 5,441 5,571 5,850 6,074 6,323 6,453 6,558 6,662 6,853 7,013 7,233 7,378 7,638 7,944
Median 5,084 5,422 5,666 5,925 6,189 6,426 6,610 6,758 6,790 6,977 7,186 7,361 7,517 7,751 8,027
  Living costs ($)
Average 3,832 3,710 3,774 3,944 4,036 4,179 4,259 4,351 5,513 5,796 5,842 6,107 6,633 7,415 7,979
Median 3,851 3,537 3,599 3,800 3,958 4,250 4,460 4,643 5,983 6,460 6,421 7,000 7,600 8,600 9,333
  Course-related costs ($)
Average 992 990 988 988 987 988 985 982 981 981 1,816 984 977 981 983
Median 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 2,000 1,000 1,000 1,000 1,000
Table T4: Amount borrowed by loan component and sub-sector
Table T4: Amount borrowed by loan component and sub-sector

Source: Te Manatū Whakahiato ora | Ministry of Social Development
Refer to Table 4, Part 1, Page 26 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. PTE stands for Private Training Establishment.
  2. Borrowing amount does not include establishment fees.
  3. Total is a count of unique individuals.
2024 Sub-sector Number of
borrowers		 Borrowing amount
($ million)		 Average borrowing ($)
Course fees University 72,351 612.2 8,462
Te Pūkenga 20,589 121.2 5,888
Wānanga 1,104 5.0 4,556
PTE 9,162 81.3 8,875
Total 103,206 819.8 7,943
Course-related costs University 42,642 41.7 977
Te Pūkenga 14,916 14.7 985
Wānanga 1,539 1.5 1,000
PTE 6,747 6.8 1,014
Total 65,844 64.7 983
Living costs University 54,209 460.6 8,496
Te Pūkenga 11,733 77.5 6,602
Wānanga 822 5.9 7,235
PTE 6,003 36.6 6,097
Total 72,768 580.6 7,979
Totals University 84,423 1,114.4 13,201
Te Pūkenga 24,017 213.3 8,883
Wānanga 1,914 12.5 6,540
PTE 11,425 124.7 10,915
Total 121,779 1,465.0 12,030
Table 4.1: Average course fees borrowed by sub-sector
Table 4.1: Average course fees borrowed by sub-sector

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Table 4, Part 1, Page 26 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Colleges of education are included with universities.
  2. Borrowers are counted in each sub-sector they studied in during the year.
  3. The counts of borrowers have been randomly rounded to base 3 and may not appear to add.
  2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
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 7,688 7,735 8,094 8,462
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 5,416 5,664 5,773 5,888
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 4,271 4,642 4,400 4,556
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 8,338 8,458 8,552 8,875
Table T4.2: Student loan borrowers by level of qualification and average amount borrowed
Table 4.2: Student loan borrowers by level of qualification and average amount borrowed

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Table 4, Part 1, Page 26 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Borrowers are counted in the highest qualification level they studied in the year.
  2. Amount borrowed includes establishment fees.
  3. The counts of borrowers have been randomly rounded to base 3 and may not appear to add.
  2022 2023 2024
Number of borrowers Average amount borrowerd ($) Number of borrowers Average amount borrowerd ($) Number of borrowers Average amount borrowerd ($)
Doctorates 1,254 11,106 1,203 12,193 1,167 12,860
Masters, honours, postgraduates certificates and postgraduate diplomas 22,524 11,765 20,739 12,609 13,242 13,429
Bachelors degrees, graduate certificates and graduate diplomas 85,317 11,337 79,920 12,152 78,933 12,818
Level 5–7 certificates/diplomas 10,461 8,212 9,861 9,194 10,179 9,817
Level 1–4 certificates 10,104 5,368 9,120 5,832 10,428 6,109
Other 48 4,345 78 4,053 108 4,203
Total borrower numbers 129,711   120,918   121,779  
Average borrowed for all qualifications   10,689   11,508   12,090
Median borrowed for all qualifications   9,255   9,858   10,337
Table T4.3: Number of students borrowing for living cost and receiving student allowances
Table T4.3: Number of students borrowing for living cost and receiving student allowances

Source: Te Manatū Whakahiato ora | Ministry of Social Development and Te Tāhuhu o te Mātauranga | Ministry of Education
This is a supporting table for Table 4, Part 1, Page 26 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. The counts of borrowers have been randomly rounded to base 3 and may not appear to add.
  2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
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 40,389 33,690 29,325 30,063
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 22,425 17,739 16,296 17,379
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 64,041 58,308 54,375 55,389
Table T4.4: Student allowances compared with student loan living cost borrowing
Table T4.4: Student allowances compared with student loan living cost borrowing

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Table 4, Part 1, Page 26 of the Student Loan Scheme Annual Report 2024/25

Notes:

The counts have been randomly rounded to base 3.
2023 Number of students  Average allowances ($) Average
living costs loan ($)		 Average allowances and living costs loan ($)
Student allowances only  30,063 14,950   14,950
Student allowances and living costs loan 17,379 12,853 3,501 16,354
Living costs loan only 55,389   9,384 9,384
Table T4.5: Amount borrowed by loan component and ethnicity
Table T4.5: Amount borrowed by loan component and ethnicity

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Table 4, Part 1, Page 26 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. The counts have been randomly rounded to base 3.
  2. The ethnicity is reported using 'multiple response', meaning that people are counted in each broad ethnic group they identify with.
  Number of students Course fees Course related costs Living costs Administration fees Total amount borrowed
Māori 20,880 $120,935,829 $13,825,939 $85,181,070 $1,228,800 $221,171,636
Pacific people 11,439 $71,547,146 $7,660,655 $43,897,342 $672,480 $123,777,624
European 77,574 $518,315,994 $41,121,685 $420,508,446 $4,555,320 $984,501,445
Asian 22,974 $179,291,544 $9,108,567 $87,573,661 $1,355,040 $277,328,813
Other 4,392 $31,542,604 $2,223,681 $15,247,064 $259,860 $49,273,208
Table T4.6: Amount borrowed by loan component, gender and ethnicity
Table T4.6: Amount borrowed by loan component, gender and ethnicity

Source: Te Manatū Whakahiato ora | Ministry of Social Development
This is a supporting table for Table 4, Part 1, Page 26 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. The ethnicity is reported using 'multiple response', meaning that people are counted in each broad ethnic group they identify with.
Gender Ethnicity 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Female Māori  $66,328,073 $92,068,630 $88,363,444 $92,421,236 $97,803,982 $98,941,983 $105,369,277 $112,713,405 $118,921,172 $127,539,373 $152,195,831 $162,951,117 $161,039,331 $165,669,150 $171,934,003 $171,823,437 $162,471,419 $158,783,629 $146,935,448 $146,298,802 $157,865,658 $147,725,687 $136,547,522 $135,957,988 $147,788,886
Pacific people $28,239,428 $33,391,417 $36,214,496 $37,979,393 $40,816,265 $42,565,463 $47,273,315 $52,862,339 $57,797,768 $68,302,205 $77,548,524 $81,920,004 $86,539,915 $91,131,825 $94,262,740 $100,989,177 $98,200,186 $97,558,160 $84,484,960 $85,105,384 $92,756,308 $88,335,102 $78,841,818 $78,328,524 $84,564,882
European $223,916,071 $270,955,586 $282,986,665 $291,759,151 $309,477,515 $311,664,375 $343,308,780 $388,727,824 $420,534,884 $476,503,261 $544,872,916 $574,178,963 $585,371,110 $602,992,855 $608,115,324 $619,357,793 $615,644,160 $600,261,735 $566,356,815 $565,359,682 $585,411,191 $589,905,905 $569,038,598 $567,328,006 $593,846,016
Asian  $30,796,750 $42,148,480 $50,967,238 $55,005,220 $62,996,044 $70,273,089 $88,974,067 $91,946,200 $94,870,386 $108,309,991 $123,361,767 $113,895,653 $111,035,083 $114,027,558 $115,601,329 $119,287,934 $120,859,607 $123,108,200 $116,177,644 $121,381,062 $129,320,225 $132,194,350 $127,823,574 $137,972,234 $152,149,149
Other $12,373,863 $16,536,298 $19,374,917 $19,513,719 $15,087,294 $13,402,222 $13,957,170 $14,865,182 $16,475,267 $18,634,963 $23,511,008 $24,896,061 $25,329,203 $26,706,782 $26,362,875 $26,691,606 $25,211,145 $24,774,884 $25,003,721 $25,470,598 $27,947,590 $27,565,384 $25,340,195 $25,933,832 $26,648,583
Male Māori  $50,340,279 $66,472,465 $65,410,299 $64,629,300 $60,274,215 $58,085,063 $61,120,564 $65,593,900 $68,896,047 $82,068,309 $98,994,785 $107,082,407 $104,243,793 $105,156,604 $102,412,291 $99,792,953 $93,595,470 $88,846,397 $76,459,793 $74,123,254 $76,911,413 $68,935,953 $61,616,741 $64,405,595 $70,572,399
Pacific people $19,782,089 $25,026,530 $28,176,832 $28,598,670 $26,206,465 $26,447,816 $28,560,357 $31,947,594 $35,128,807 $41,700,060 $48,068,738 $51,261,762 $52,464,108 $54,542,807 $53,400,187 $54,206,571 $52,701,984 $49,270,544 $41,083,228 $40,303,695 $42,176,490 $38,429,881 $32,946,739 $34,332,812 $38,578,187
European $197,060,478 $240,386,151 $248,969,179 $252,844,974 $237,658,630 $233,226,621 $258,173,871 $289,095,308 $319,125,367 $365,993,131 $426,383,857 $453,491,601 $445,533,545 $448,972,052 $446,418,603 $446,820,263 $442,622,822 $428,741,560 $391,491,272 $383,680,840 $386,655,476 $366,763,575 $339,897,058 $350,868,302 $376,020,102
Asian  $34,441,547 $44,440,993 $52,008,551 $55,654,442 $60,444,564 $66,089,696 $84,196,941 $88,453,052 $93,713,740 $107,021,663 $119,311,186 $109,680,409 $106,712,145 $109,751,716 $109,900,429 $113,565,387 $113,216,092 $115,127,110 $107,086,151 $110,531,549 $115,106,525 $110,768,793 $105,537,009 $113,177,559 $124,684,769
Other $15,120,176 $19,482,897 $22,909,177 $22,721,489 $16,371,031 $15,229,812 $15,468,415 $16,433,726 $18,118,795 $20,946,004 $26,463,495 $25,760,846 $24,614,229 $25,362,077 $25,481,270 $24,961,611 $22,609,814 $22,081,299 $20,170,827 $20,503,561 $21,232,206 $19,110,435 $17,920,809 $18,893,150 $22,131,788
Another gender Māori  $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $58,471 $731,652 $1,016,095 $1,342,442 $1,984,081 $2,810,351
Pacific people $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $264,373 $302,778 $389,303 $489,738 $634,557
European $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $95,566 $2,535,353 $5,492,643 $7,894,298 $10,922,375 $14,635,327
Asian  $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,970 $209,446 $427,720 $760,524 $1,159,917 $1,511,997
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $15,021 $130,275 $230,631 $342,697 $475,118 $492,837
All Māori  $116,668,350 $158,541,094 $153,773,744 $157,050,535 $158,078,197 $157,027,046 $166,489,840 $178,307,305 $187,817,220 $209,607,681 $251,190,616 $270,033,525 $265,283,123 $270,825,755 $274,346,294 $271,616,391 $256,066,886 $247,630,026 $223,395,242 $220,480,528 $235,495,641 $217,674,285 $199,498,736 $202,319,394 $221,171,635
Pacific people $48,021,516 $58,417,946 $64,391,327 $66,578,064 $67,022,730 $69,013,278 $75,833,671 $84,809,932 $92,926,576 $110,002,264 $125,617,261 $133,181,765 $139,004,023 $145,674,633 $147,662,926 $155,195,749 $150,902,170 $146,828,703 $125,568,187 $125,409,079 $135,197,171 $127,067,762 $112,177,859 $113,151,074 $123,777,623
European $420,976,548 $511,341,737 $531,955,845 $544,604,124 $547,136,145 $544,890,995 $601,482,652 $677,823,134 $739,660,250 $842,496,392 $971,256,772 $1,027,670,564 $1,030,904,653 $1,051,964,906 $1,054,533,927 $1,066,178,055 $1,058,266,982 $1,029,003,296 $957,848,084 $949,136,089 $974,602,018 $962,162,123 $916,829,956 $929,118,683 $984,501,445
Asian  $65,022,343 $86,362,842 $102,697,272 $110,449,822 $123,209,835 $136,145,488 $173,012,969 $180,188,636 $188,322,459 $215,036,963 $242,210,907 $223,054,437 $217,205,895 $223,202,875 $224,744,124 $232,022,279 $233,233,624 $237,378,904 $222,457,293 $231,053,455 $243,815,976 $242,790,589 $233,283,849 $251,549,200 $277,328,813
Other $27,494,037 $36,019,195 $42,284,094 $42,235,207 $31,458,325 $28,632,035 $29,425,587 $31,298,909 $34,594,061 $39,580,967 $49,974,504 $50,656,907 $49,943,430 $52,068,858 $51,844,145 $51,653,218 $47,820,958 $46,856,183 $45,174,548 $45,989,181 $49,310,072 $46,906,450 $43,603,700 $45,302,101 $49,273,208

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 2024/25 tax year, full-time students could borrow up to $316.39 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 2024:

  • 30,0635 students received a student allowance only
  • 17,379 students received both student allowances student loan living cost
  • 55,389 students received only student loan living costs

Loan repayment times

Repayment times are influenced by factors such as;

  • The total amount borrowed
  • The type and level of study undertaken
  • Government policy on tertiary education and on student loans
  • The strength of the labour market
  • Whether a borrower stays in New Zealand or spends long periods overseas
Table T5: Percentiles of leaving debt and repayment times
Table T5: Percentiles of leaving debt and repayment time for leavers in 2023 who completed a qualification by level of study and gender

Source:V Tatauranga Aotearoa | Statistics New Zealand IDI and Te Tāhuhu o te Mātauranga | Ministry of Education Student Loans Integrated Model
Refer to Table 5, Part 1, P30 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Counts have been randomly rounded to base three.
  2. 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 independantly determined.
  3. The population is those who studied in 2022, did not study in 2023 who completed a qualification at the level shown in 2022. Some people who qualify continue to study. These people are excluded from this table.
  4. 'n' indicates that the repayment percentile is not seen to occur in modelling over 40 years
  5. Students who identify as ‘another gender’ are excluded as they account for 1 percent of the data.
    No. Leaving balance ($) Post Study Repayment Time (years)
5th percentile 10th percentile 25th percentile 50th percentile (median) 75th percentile 90th percentile 95th percentile 5th percentile 10th percentile 25th percentile 50th percentile (median) 75th percentile 90th percentile 95th percentile
All Level 1-4 certificates 5,601 947 1,649 4,927 11,432 23,965 41,781 55,084 0.4 0.8 2.4 5.7 13.5 n n
Level 5-7 certificates/diplomas 3,453 1,758 3,294 8,105 17,659 34,601 60,223 77,678 0.4 0.9 2.5 5.7 11.2 21.3 n
Bachelors and graduate certificates / diplomas 15,216 7,620 11,920 19,328 33,908 49,995 70,956 91,614 1.1 2.1 3.8 6.6 10.5 16.2 22.6
Postgraduate 5,565 5,566 10,237 23,502 41,666 63,597 81,202 92,907 0.6 1.2 3.3 6.2 9.9 15.2 22.1
Male Level 1-4 certificates 1,761 798 1,136 4,000 9,700 20,262 38,109 52,343 0.4 0.7 1.9 4.7 11.1 n n
Level 5-7 diplomas 1,203 1,820 3,274 8,279 18,508 38,042 69,883 85,867 0.4 0.9 2.4 5.7 10.9 21.2 n
Bachelors and graduate certificates / diplomas 5,046 8,039 12,502 19,780 34,677 51,913 75,122 100,286 1.1 2.1 3.7 6.3 10.2 15.7 21.6
Postgraduate 2,040 9,292 15,025 28,298 46,606 66,316 83,317 93,236 0.8 1.8 3.7 6.3 9.9 14.9 20.8
Female Level 1-4 certificates 3,804 1,009 1,936 5,433 12,363 25,402 43,024 56,400 0.4 0.9 2.6 6.2 14.8 n n
Level 5-7 diplomas 2,211 1,701 3,294 7,931 17,078 33,023 54,175 71,928 0.4 0.9 2.6 5.7 11.4 22.1 n
Bachelors and graduate certificates / diplomas 10,101 7,358 11,544 19,199 33,527 49,163 69,271 88,879 1.0 2.1 3.9 6.7 10.7 16.4 23.5
Postgraduate 3,483 4,561 8,432 20,677 38,552 61,619 79,222 92,272 0.5 1.0 2.9 6.1 10.0 15.3 22.8
Table T6: Median leaving debt and repayment time by ethnicity and level of study for leavers in 2022
Table T6: Median leaving debt and repayment time by ethnicity and level of study for leavers in 2023

Source: Tatauranga Aotearoa | Statistics New Zealand IDI and Te Tāhuhu o te Mātauranga | Ministry of Education Student Loans Integrated Model
Refer to Table 6, Part 1, Page 31 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. 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.
  2. The borrowers included are those who studied in 2023 and did not study in 2024. These numbers do not take account of the borrowers’ qualification completion status.
  3. Borrowers’ ethnicity is reported using ‘multiple response’ – they are counted in each broad ethnic group they identify with.
  Certificates 1-4 Certificates/diplomas 5-7 Bachelors Postgraduate All Levels
  No. Median repayment time (years) Median leaving debt ($) No. Median repayment time (years) Median leaving debt ($) No. Median repayment time (years) Median leaving debt ($) No. Median repayment time (years) Median leaving debt ($) No. Median repayment time (years) Median leaving debt ($)
By Ethnicity                              
European 6,960 5.88 12,129 4,185 5.8 17,675 16,137 6.3 30,722 6,174 6.38 42,314 33,639 6.21 26,243
Māori 5,409 8.21 11,204 1,632 6.19 14,446 3,864 6.85 28,087 1,023 6.34 36,880 11,928 7.14 17,869
Pacific people 1,632 6.69 10,514 756 6.24 14,891 2,817 6.84 26,942 714 6.3 38,133 5,922 6.65 20,883
Asian 915 4.83 11,271 771 4.94 15,624 4,023 5.82 26,047 1,971 5.43 34,665 7,683 5.56 25,726
Table T6.1: Quartiles of actual and forecast repayment times
Table T6.1: Quartiles of actual and forecast repayment times for borrowers who left study in 2005-2023 by level of study

Source: Tatauranga Aotearoa | Statistics New Zealand IDI and Te Tāhuhu o te Mātauranga | Ministry of Education Student Loans Integrated Model
This is a supporting table for Table 6, Part 1, Page 31 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Shown are quartiles of student loan repayment time in years. The data is a mixture of actual repayment performance and projection.
  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
2023 2.4 5.75 13.5 2.5 5.7 11.2 3.8 6.6 10.5 3.3 6.2 9.9
2022 1.9 5.5 12.9 2.3 5.6 11.0 3.6 6.4 10.5 3.1 6.1 9.9
2021 1.6 4.8 13.1 2.1 5.4 10.9 3.7 6.8 10.9 2.7 6.4 10.5
2020 1.8 4.6 12.8 2.3 5.4 11.1 3.7 7.1 11.2 2.6 6.4 10.6
2019 1.9 4.8 14.6 2.3 5.2 11.1 3.9 6.9 11.0 2.6 5.8 10.3
2018 2.0 4.8 14.2 2.9 5.7 11.2 3.9 6.4 10.6 2.6 5.4 9.8
2017 2.2 4.9 14.1 2.9 5.7 11.4 3.9 6.2 10.4 2.6 5.3 9.3
2016 2.4 5.2 14.8 3.2 5.9 11.9 4.0 6.3 10.2 2.9 5.6 9.3
2015 2.5 5.6 14.8 3.2 6.0 11.7 4.1 6.4 10.1 2.8 5.6 9.0
2014 2.7 5.8 16.4 3.2 6.2 12.2 4.0 6.4 9.8 2.6 5.4 9.0
2013 2.6 5.6 15.2 3.3 6.4 12.5 3.8 6.4 9.9 2.6 5.4 8.8
2012 2.6 5.8 14.8 3.1 6.2 11.7 3.6 6.4 9.9 2.5 5.6 9.1
2011 2.7 6.2 16.6 3.0 6.2 11.6 2.9 6.0 9.8 1.8 4.9 8.8
2010 2.9 6.4 16.3 2.9 6.1 11.5 2.6 5.8 9.9 1.8 4.8 9.1
2009 3.1 6.8 17.2 3.0 6.0 11.4 2.8 6.0 10.3 1.9 4.5 9.0
2008 3.0 6.7 16.9 2.9 5.9 11.6 2.8 5.7 10.3 2.0 4.7 8.9
2007 2.7 6.3 13.3 2.8 6.0 12.2 2.9 5.7 10.4 2.1 4.8 9.3
2006 2.8 6.7 15.5 2.7 6.0 12.2 3.2 6.1 10.8 2.3 5.2 9.5
2005 2.8 6.8 15.2 3.0 6.3 12.1 3.3 6.5 11.3 2.7 5.8 10.5
Table T7: Leaving Debt and Forecast repayment times for borrowers who left study in 2022
Table T7: Leaving Debt and Forecast repayment times for borrowers who left study in 2023

Source: Tatauranga Aotearoa | Statistics New Zealand IDI and Te Tāhuhu o te Mātauranga | Ministry of Education Student Loans Integrated Model
Refer to Table 7, Part 1, Page 32 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Counts have been randomly rounded and may not appear to add.
  2. Ethnicity is reported using 'multiple response', meaning that people are counted in each broad ethnic group they identify with.
  3. Shown are quartiles of post-study repayment time. This is a mixture of real experience and modelling. Also shown are percentiles of leaving debt.
  4. 'Not always NZ-based' indicates a borrower who at some stage has met, or is modelled as meeting, the overseas-based borrower criteria.
      Repayment times (years) Leaving debt ($)
  No. Percentage of leavers 25th percentile median 75th percentile 25th percentile median 75th percentile
All 52,431 100% 3.2 6.3 11.3 10,636 24,067 44,127
                 
By gender                
Another gender     429 0.8% 3.91 7.38 11.64 11,440 26,628 46,268
Male 18,183 34.7% 3.1 6.0 10.5 10,537 24,843 46,081
Female 33,822 64.5% 3.2 6.4 11.7 10,672 23,736 43,104
                 
By level of study                
Level 1-4 certificates 12,753 24.3% 2.5 6.5 15.6 4,744 11,458 24,602
Level 5-7 certificates/diplomas 6,642 12.7% 2.5 5.8 11.9 7,372 16,516 33,051
Bachelors and graduate certficates/diplomas 23,892 45.6% 3.6 6.4 10.6 15,652 29,259 47,049
Postgraduate 9,144 17.4% 3.2 6.1 10.1 21,357 39,080 61,460
                 
By Ethnicity                
European 33,639   3.2 6.2 10.7 11,944 26,243 46,516
Māori 11,928   3.3 7.1 14.7 7,522 17,869 36,321
Pacific People 5,922   3.2 6.7 12.9 8,944 20,883 40,802
Asian 7,683   3.0 5.6 9.7 12,886 25,726 44,480
                 
By leaving debt band ($000)                
<5 6,414 12.2% 0.6 1.4 3.6      
5-10 5,958 11.4% 1.5 2.9 6.0      
10-15 5,436 10.4% 2.3 3.9 7.2      
15-20 4,881 9.3% 3.0 4.7 8.5      
20-25 4,272 8.1% 3.5 5.5 9.3      
25-30 3,837 7.3% 4.2 6.2 10.2      
30-35 3,288 6.3% 4.8 7.1 11.3      
35-40 2,988 5.7% 5.4 7.8 12.1      
40-45 2,712 5.2% 5.7 8.3 12.5      
45-50 2,448 4.7% 6.4 9.0 13.4      
50-55 1,836 3.5% 6.8 9.5 14.4      
55-60 1,569 3.0% 7.4 10.2 16.0      
60-65 1,311 2.5% 7.8 10.8 16.8      
65-70 1,170 2.2% 7.9 11.1 16.6      
>70 4,314 8.2% 9.7 13.4 20.3      
                 
By location                
Always NZ based 43,845 83.6% 2.8 5.5 9.8 9,615 22,020 41,552
Not always NZ based 8,586 16.4% 6.8 11.5 20.1 18,840 34,876 55,572

Repayment performance

Borrowers and balances

As at 30 June 2025, there were 622,892 student loan borrowers, compared with 618,008 at the same time last year, an increase of 0.8 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 T8: Overview of students loan at 30 June 2023 and the two preceding years
Table T8: Overview of students loan at 30 June 2025 and the two preceding years

Source: Te Tari Taake | Inland Revenue
Refer to Table 8, Part 1, Page 34 of the Student Loan Scheme Annual Report 2024/25

  2023 2024 2025
New Zealand-based borrowers
Number of borrowers 530,550 507,619 509,732
Nominal balance ($m) 12,226 11,850 11,960
Median loan ($) 16,385 16,508 16,095
Average loan ($) 23,022 23,342 23,491
Overseas-based borrowers
Number of borrowers 104,685 110,389 113,160
Nominal balance ($m) 3,716 4,018 4,260
Median loan ($) 24,254 25,092 25,835
Average loan ($) 35,501 36,601 37,678
All borrowers summary
Number of borrowers 635,235 618,008 622,892
Nominal balance ($m) 15,942 15,868 16,222
Median loan ($) 17,490 17,794 17,557
Average loan ($) 25,078 25,709 26,075
Table F9: Number of Borrowers and Nominal Balance
Table F9: Number of Borrowers and Nominal Balance

Source: Te Tari Taake | Inland Revenue
Refer to Figure 9, Part 1, Page 35 of the Student Loan Scheme Annual Report 2024/25

  Number of Borrowers Nominal Balance ($ million)
Year All borrowers NZB OBB  Overall # change Overall % change All borrowers NZB OBB Overall $m increase Overall % change
2025 622,892 509,732 113,160 4,884 0.8% 16,222 11,960 4,260 366 2.3%
2024 618,008 507,619 110,389 -17,227 -2.7% 15,856 11,838 4,018 -86 -0.5%
2023 635,235 530,550 104,685 -23,090 -3.5% 15,942 12,226 3,716 -187 -1.2%
2022 658,325 555,606 102,719 -21,622 -3.2% 16,129 12,610 3,527 -132 -0.8%
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 9,450 2,620 925 8.3%
2010 587,499 502,362 85,137     11,145 8,779 2,366    
Table F9.1: Age range of borrower groups

This table is produced online only

Table F9.1: Age range of borrower groups

Source: Te Tari Taake | Inland Revenue
This is a supporting table for Figure 9, Part 1, Page 35 of the Student Loan Scheme Annual Report 2024/25

Age group All Borrowers Age group NZ-based borrowers only Age group Overseas-based borrower only
Under 18 701 Under 18 701    
18 7,563 18 7,559    
19 20,086 19 20,055 Under 19 35
20 20,720 20 20,619 20 101
21 22,171 21 21,953 21 218
22 22,610 22 22,084 22 526
23 22,626 23 21,603 23 1,023
24 23,466 24 21,755 24 1,711
25 24,236 25 21,856 25 2,380
26 24,211 26 21,227 26 2,984
27 24,612 27 20,820 27 3,792
28 23,968 28 19,910 28 4,058
29 22,302 29 18,269 29 4,033
30 21,139 30 17,269 30 3,870
31 19,789 31 16,057 31 3,732
32 19,298 32 15,557 32 3,741
33 18,061 33 14,404 33 3,657
34 17,616 34 13,954 34 3,662
35 16,870 35 13,098 35 3,772
36 15,531 36 12,054 36 3,477
37 14,641 37 11,197 37 3,444
38 13,482 38 10,307 38 3,175
39 12,529 39 9,462 39 3,067
40 11,712 40 8,759 40 2,953
41 11,546 41 8,449 41 3,097
42 11,095 42 7,952 42 3,143
43 10,727 43 7,558 43 3,169
44 10,326 44 7,195 44 3,131
45 9,708 45 6,688 45 3,020
46 9,657 46 6,570 46 3,087
47 9,264 47 6,217 47 3,047
48 8,762 48 5,873 48 2,889
49 8,151 49 5,426 49 2,725
50 7,781 50 5,120 50 2,661
51 7,330 51 4,877 51 2,453
52 6655 52 4,551 52 2,104
53 6,169 53 4,327 53 1,842
54 5,517 54 3,933 54 1,584
55 5,008 55 3,611 55 1,397
56 4,606 56 3,333 56 1,273
57 4,297 57 3,095 57 1,202
58 3,992 58 2,900 58 1,092
59 3,567 59 2,663 59 904
60 3,474 60 2,507 60 967
61 3,120 61 2,300 61 820
62 3,177 62 2,360 62 817
63 3,026 63 2,276 63 750
64 2,611 64 1,969 64 642
65+ 23,386 65+ 17,453 65+ 5,933
Total 622,892 Total 509,732 Total 113,160
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

Source: Te Tari Taake | Inland Revenue
This is a supporting table for Figure 9, Part 1, Page 35 of the Student Loan Scheme Annual Report 2024/25

Year Average ($) Median ($)
2025 26,075 17,557
2024 25,657 17,794
2023 25,012 17,515
2022 24,595 17,262
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
Table F9.3: Borrower numbers by activity

This table is produced online only

Table F9.3: Borrower numbers by activity

Source: Te Tari Taake | Inland Revenue
This is a supporting table for Figure 9, Part 1, Page 35 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Repayments/Lending - loans closed are not included and therefore neither are the transactions.
  2. These are point-in-time volumes and therefore due to data being extracted on different dates may differ from the numbers in other tables.
  3. 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.
    2022/23 2023/24 2024/25
New Zealand-based borrowers Borrowing 36,998 43,558 60,906
Borrowing and repaying 103,053 93,886 96,149
Repaying 306,587 284,685 260,480
Inactive 130,300 129,528 132,245
Overseas-based borrowers Borrowing 241 237 254
Borrowing and repaying 848 1,007 1,060
Repaying 43,336 51,621 57,485
Inactive 64,145 61,479 59,893
Total   685,508 666,001 668,472
Table F10: Range and Distribution of loan balances at 30 June
Table F10: Range and Distribution of loan balances at 30 June 2025

Source: Te Tari Taake | Inland Revenue
Refer to Figure 10, Part 1, Page 32 of the Student Loan Scheme Annual Report 2024/25

Balance range ($) New Zealand-based Borrowers Overseas-based Borrowers
<5,000 16.1% 9.3%
5,001-10,000 17.2% 10.9%
10,001-15,000 13.8% 10.7%
15,001-20,000 10.5% 9.5%
20,001-25,000 7.9% 8.4%
25,001-30,000 6.8% 7.2%
30,001-35,000 5.2% 6.1%
35,001-40,000 4.3% 5.4%
40,001-45,000 3.6% 4.6%
45,001-50,000 3.0% 3.9%
50,001-55,000 2.3% 3.1%
55,001-60,000 1.8% 2.6%
60,001-65,000 1.5% 2.2%
65,001-70,000 1.2% 1.9%
70,001-75,000 1.0% 1.7%
75,001-80,000 0.7% 1.5%
80,001-85,000 0.6% 1.3%
85,001-90,000 0.5% 1.1%
90,001-95,000 0.4% 0.9%
95,001-100,000 0.5% 1.4%
100,001-105,000 0.2% 0.7%
105,001-110,000 0.1% 0.4%
110,001-115,000 0.1% 0.5%
115,001-120,000 0.1% 0.5%
120,001-125,000 0.1% 0.4%
125,001-130,000 0.1% 0.3%
130,001-135,000 0.1% 0.4%
135,001-140,000 0.1% 0.3%
140,001-145,000 0.0% 0.3%
145,001-150,000 0.0% 0.2%
150,001-155,000 0.0% 0.2%
155,001-160,000 0.0% 0.2%
160,001-165,000 0.0% 0.2%
165,001-170,000 0.0% 0.2%
170,001-175,000 0.0% 0.1%
175,001-180,000 0.0% 0.1%
180,001-185,000 0.0% 0.1%
185,001-190,000 0.0% 0.1%
190,001-195,000 0.0% 0.1%
195,001-200,000 0.0% 0.8%
>200,000 0.0% 0.7%
Table F10.1: Range and Distribution of loan balances by gender at 30 June

This table is produced online only

Table F10.1: Range and Distribution of loan balances by gender at 30 June 2025

Source: Te Tari Taake | Inland Revenue
This is a supporting table to Figure 10, Part 1, Page 36 of the Student Loan Scheme Annual Report 2024/25

Balance range ($) New Zealand-based Borrowers Overseas-based Borrowers
Female Male Female Male
<5,000 16.0% 16.3% 9.3% 9.2%
5,001-10,000 16.1% 16.0% 11.6% 10.5%
10,001-15,000 12.8% 12.3% 11.3% 10.3%
15,001-20,000 10.6% 10.1% 9.9% 9.2%
20,001-25,000 8.5% 8.1% 8.7% 8.1%
25,001-30,000 7.3% 7.1% 7.5% 6.9%
30,001-35,000 5.6% 5.4% 6.2% 5.9%
35,001-40,000 4.5% 4.5% 5.5% 5.3%
40,001-45,000 3.8% 3.8% 4.6% 4.6%
45,001-50,000 3.2% 3.3% 3.9% 3.9%
50,001-55,000 2.4% 2.5% 3.1% 3.2%
55,001-60,000 1.9% 2.0% 2.6% 2.7%
60,001-65,000 1.5% 1.7% 2.1% 2.3%
65,001-70,000 1.3% 1.4% 1.9% 2.0%
70,001-75,000 1.0% 1.1% 1.6% 1.8%
75,001-80,000 0.7% 0.8% 1.4% 1.5%
80,001-85,000 0.6% 0.7% 1.2% 1.3%
85,001-90,000 0.5% 0.6% 1.0% 1.2%
90,001-95,000 0.4% 0.4% 0.8% 1.0%
95,001-100,000 0.3% 0.4% 0.7% 0.9%
100,001-105,000 0.2% 0.3% 0.5% 0.7%
105,001-110,000 0.2% 0.2% 0.5% 0.7%
110,001-115,000 0.1% 0.2% 0.2% 0.3%
115,001-120,000 0.1% 0.1% 0.5% 0.7%
120,001-125,000 0.1% 0.1% 0.4% 0.5%
125,001-130,000 0.1% 0.1% 0.3% 0.4%
130,001-135,000 0.1% 0.1% 0.3% 0.4%
135,001-140,000 0.1% 0.1% 0.3% 0.4%
140,001-145,000 0.0% 0.1% 0.2% 0.4%
145,001-150,000 0.0% 0.1% 0.2% 0.3%
>150,000 0.1% 0.2% 1.5% 3.2%
Table F10.2: Range and distribution of loan balances by ethnicity at 30 June

This table is produced online only

Table F10.2: Range and distribution of loan balances by ethnicity at 30 June 2025

Source: Te Tari Taake | Inland Revenue
This is a supporting table to Figure 10, Part 1, Page 36 of the Student Loan Scheme Annual Report 2024/25

Balance range ($) New Zealand-based Borrowers Overseas-based Borrowers
Asians Europeans Maori MELAA Pasifika Asians Europeans Maori MELAA Pasifika
<5,000 11.1% 14.7% 20.7% 13.6% 16.9% 7.5% 9.0% 11.9% 10.1% 10.7%
5,001-10,000 13.7% 14.8% 19.1% 14.9% 17.1% 9.2% 11.2% 12.9% 12.1% 11.9%
10,001-15,000 12.3% 12.2% 13.6% 12.4% 13.0% 9.4% 10.8% 12.3% 11.3% 12.2%
15,001-20,000 11.7% 10.1% 10.4% 10.5% 10.5% 8.9% 9.6% 10.1% 9.4% 10.8%
20,001-25,000 9.8% 8.2% 8.0% 9.0% 8.4% 7.7% 8.6% 8.7% 8.3% 8.6%
25,001-30,000 8.3% 7.6% 6.3% 7.7% 6.7% 6.8% 7.6% 7.3% 7.8% 7.1%
30,001-35,000 6.4% 5.7% 4.7% 6.0% 5.5% 6.2% 6.3% 5.8% 7.0% 5.7%
35,001-40,000 5.4% 4.8% 3.6% 4.8% 4.3% 5.3% 5.8% 5.3% 5.2% 5.0%
40,001-45,000 4.2% 4.2% 2.9% 4.2% 3.6% 4.9% 4.9% 4.1% 4.7% 4.0%
45,001-50,000 3.4% 3.7% 2.4% 3.5% 2.8% 4.0% 4.0% 3.4% 4.1% 3.5%
50,001-55,000 2.7% 2.8% 1.8% 2.6% 2.3% 3.4% 3.4% 2.6% 3.4% 2.7%
55,001-60,000 2.2% 2.2% 1.4% 2.4% 1.8% 3.0% 2.8% 2.4% 3.1% 2.1%
60,001-65,000 1.7% 1.9% 1.1% 1.5% 1.4% 2.6% 2.3% 1.7% 2.0% 2.0%
65,001-70,000 1.5% 1.6% 0.9% 1.3% 1.2% 2.2% 1.8% 1.7% 2.0% 1.8%
70,001-75,000 1.2% 1.2% 0.7% 1.1% 0.9% 2.1% 1.7% 1.3% 1.4% 1.4%
75,001-80,000 0.8% 0.9% 0.5% 0.8% 0.8% 1.9% 1.4% 1.1% 1.2% 1.2%
80,001-85,000 0.6% 0.7% 0.4% 0.7% 0.6% 1.5% 1.1% 0.9% 1.2% 1.2%
85,001-90,000 0.6% 0.6% 0.4% 0.6% 0.5% 1.5% 0.9% 0.8% 1.0% 1.0%
90,001-95,000 0.5% 0.5% 0.2% 0.4% 0.4% 1.4% 0.8% 0.7% 0.8% 0.8%
95,001-100,000 0.3% 0.4% 0.2% 0.4% 0.3% 1.1% 0.7% 0.6% 0.6% 0.7%
100,001-105,000 0.3% 0.3% 0.2% 0.4% 0.2% 0.9% 0.6% 0.5% 0.4% 0.6%
105,001-110,000 0.2% 0.2% 0.1% 0.2% 0.2% 0.8% 0.5% 0.5% 0.5% 0.5%
110,001-115,000 0.2% 0.2% 0.1% 0.2% 0.2% 0.8% 0.4% 0.4% 0.4% 0.6%
115,001-120,000 0.2% 0.2% 0.1% 0.2% 0.1% 0.8% 0.4% 0.4% 0.4% 0.4%
120,001-125,000 0.2% 0.1% 0.1% 0.2% 0.1% 0.6% 0.4% 0.3% 0.0% 0.3%
125,001-130,000 0.1% 0.1% 0.1% 0.1% 0.1% 0.6% 0.3% 0.3% 0.3% 0.3%
130,001-135,000 0.1% 0.1% 0.0% 0.1% 0.1% 0.5% 0.2% 0.2% 0.2% 0.3%
135,001-140,000 0.1% 0.1% 0.0% 0.1% 0.1% 0.6% 0.3% 0.2% 0.0% 0.3%
140,001-145,000 0.1% 0.1% 0.0% 0.0% 0.0% 0.4% 0.2% 0.2% 0.4% 0.2%
145,001-150,000 0.1% 0.1% 0.0% 0.0% 0.0% 0.3% 0.2% 0.1% 0.2% 0.2%
>150,000 0.2% 0.2% 0.1% 0.2% 0.2% 3.2% 1.9% 1.3% 0.5% 1.9%

The borrower base – 622,892 borrowers, owe a total nominal balance of $16,222 million. 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 supporting table shows at the end of June 2025:

  • 60 percent of overseas-based borrows have loan balances over $20,000 compared with 42 percent of New Zealand-based borrowers
  • 25 percent of overseas-based borrowers have loans over $50,000 compared to 12 percent of New Zealand-based borrowers.

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.

Loan repayments

Total repayments received over the 2024/25 fiscal year was $1,563m with $243m of this from borrowers overseas.

Table 9 Loan repayments direct from borrowers shows a breakdown of payments directly from New Zealand-based and overseas-based borrowers.

Table T9: Loan Repayments
Table T9: Loan Repayments

Source: Te Tari Taake | Inland Revenue administration data.
Refer to Table 9, Part 1, Page 37 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Totals may not appear to add because of rounding.
Repayments 2022/23 2023/24 2024/25
$ million
PAYE 1,247.5 1,205.2 1,098.5
Direct NZ 230.5 217.9 221.3
Direct Overseas 155.5 173.3 242.9
Total 1,633.5 1,596.4 1,562.7
Annual % change
PAYE 4.4 -3.4 -8.9
Direct NZ -7.6 -5.5 1.5
Direct Overseas -3.1 11.4 40.2
Total 1.8 -2.3 -2.1
Table T10: Overdue student loan repayments
Table 10: Overdue student loan repayments

Source: Te Tari Taake | Inland Revenue administration data
Refer to Table 10, Part 1, Page 38 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Totals may not appear to add because of rounding.
Overdue repayments 2023/24 2024/25 % Change
2024-25
New Zealand-based      
Overdue amount ($m) 175.6 186.6 6.3%
No. of borrowers 27,346 26,705 -2.3%
Average amount outstanding ($) 6,420.0 6,988.6 8.9%
Overseas-based      
Overdue amount ($m) 2,199.3 2,322.6 5.6%
No. of borrowers 78,088 77,701 -0.5%
Average amount outstanding ($) 28,164.6 29,891.2 6.1%
Total/overall      
Overdue amount ($m) 2,374.9 2,509.2 5.7%
No. of borrowers 105,434 104,406 -1.0%
Average amount outstanding ($) 22,524.8 24,033.2 6.7%
Table T10.1: Loan Repayments directly from borrowers

This table is produced online only

Table T10.1: Loan Repayments directly from borrowers

Source: Te Tari Taake | Inland Revenue
This is a supporting table for Table 10, Part 1, Page 38 of the Student Loan Scheme Annual Report 2024/25

  2019/20 2020/21 2021/22 2022/23 2023/24 2024/25
New Zealand-based            
$million 172.8 229.3 249.4 230.5 217.89 221.3
Annual % change 2.7% 32.7% 8.8% -7.6% -5.5% 1.6%
             
Overseas-based            
$million 211.6 197.7 160.5 155.5 173.32 242.9
Annual % change 2.6% -6.6% -18.8% -3.1% 11.5% 40.1%
             
Total            
$million 384.4 427.0 409.9 386 391.2 464.2
Annual % change 2.6% 11.1% -4.0% 5.8% 1.3% 18.7%

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 decreased by 1.0 percent in 2025. The total amount overdue increased by 6.7 percent on the previous year.

Table T11: Age and location of overdue repayments at 30 June
Table T11: Age and location of overdue repayments at 30 June

Source: Te Tari Taake | Inland Revenue
Refer to Table 11, Part 1, Page 39 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Totals may not appear to add because of rounding.
  2024 2025
Age of overdue
repayments		 $ million Percentage $ million Percentage
New Zealand-based borrowers
0-1 month 0.1 0.1% 0.1 0.0%
2-3 months 9.2 5.2% 2.4 1.3%
4-6 months 5.9 3.4% 9.2 4.9%
7-12 months 2.2 1.3% 3.3 1.8%
1-2 years 18.8 10.7% 14.7 7.9%
2-5 years 34.9 19.9% 38.6 20.7%
5-10 years 59.1 33.7% 59.7 32.0%
>10 years 45.3 25.8% 58.6 31.4%
Total 175.6 100.0% 186.6 100.0%
Overseas-based borrowers
0-1 month - 0.0% 0.1 0.0%
2-3 months 64.8 2.9% 0.6 0.0%
4-6 months 0.6 0.0% 60.1 2.6%
7-12 months 58.0 2.6% 53.4 2.3%
1-2 years 121.8 5.5% 108.9 4.7%
2-5 years 395.9 18.0% 367.7 15.8%
5-10 years 790.8 36.0% 772.6 33.3%
>10 years 767.4 34.9% 959.1 41.3%
Total 2,199.3 100.0% 2,322.6 100.0%
Table T12: Special deduction rate
Table T12: Special deduction rate

Source: Te Tari Taake | Inland Revenue
Refer to Table 12, Part 1, Page 40 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. 2023/24* results include a discovery that was run in Nov 2023 to identify customers who might be eligible for this exemption. As a result, there were an additional 1,400 cases added for the month and increased volumes for the remainder of the year.
Special rate type 2022/23 2023/24* 2024/25
Repayment Deduction Exemption 3,721 5,910 6,439
Unused repayment rate 215 311 292
Hardship 2,480 3,597 2,832
Totals 6,416 9,818 9,563
Table T13: Capitalisation of overdue amounts
Table T13: Capitalisation of overdue amounts

Source: Te Tari Taake | Inland Revenue
Refer to Table 13, Part 1, Page 40 of the Student Loan Scheme Annual Report 2024/25

New Zealand-based capitalisations
  2022/23 2023/24 2024/25
Number of borrowers 1,598 1,353 1,551
Amount capitalised ($ million) 10 8.9 10.9
Overseas-based capitalisations
  2022/23 2023/24 2024/25
Number of borrowers 2,441 2,173 2,831
Amount capitalised ($ million) 23.8 21.9 42.2
Table T14: Number of loans fully repaid at 30 June
Table T14: Number of loans fully repaid at 30 June 2025

Source: Te Tari Taake | Inland Revenue administration data.
Refer to Table 14, Part 1, Page 38 of the Student Loan Scheme Annual Report 2024/25

Year Loans repaid
2025 49,834
2024 52,368
2023 55,405
2022 55,668
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

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 seven years, repayments have exceeded lending. Over the 2024/25 financial year $1,701 million in cash was lent to students and $1,563 million was received in repayments meaning that there was a cash deficit of $138 million.

Table T15: Write-off due to death, bankruptcy or fraud
Table T15: Write-off due to death, bankruptcy or fraud

Source: Te Tari Taake | Inland Revenue
Refer to Table 15, Part 1, Page 42 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. In April 2020, legislation was introduced to allow for loans taken out prior to 2000 to be written off if identity theft has occurred and the correct borrower cannot be identified.
Write-offs 2022/23 2023/24 2024/25
  $ million
Bankrupt 2.5 5.7 6.1
Deceased 29.7 28.8 29.6
Fraud 0.01 0.05 0.01
  Number of cases
Bankrupt 76 151 142
Deceased 1,685 1,787 1,661
Fraud <6 8 <6
Table F11: Movement in the fair value due to impairment and discount rate changes
Table F11: Movement in the fair value due to impairment and discount rate changes over the last eight years

Source: Te Tāhuhu o te Mātauranga | Ministry of Education
Refer to Figure 11, Part 2, Page 45 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. The impairment shown applies to the fair value and so differs from the impairment of the carrying value reported in Annual Reports prior to 2018.
  2. Changes in value arising from changes in the collection expense assumptions have been attributed to impairment.
At 30 June 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
  $ million
Impairment -89 45 103 211 -476 488 519 277 275 -91
Discount rate 408 -140 190 734 343 220 -1,670 194 80 469
Table F12: Lending and initial-write down on this lending
Table F12: Lending and initial-write down on this lending

Source: Te Tāhuhu o te Mātauranga | Ministry of Education
Refer to Figure 12, Part 2, Page 46 of the Student Loan Scheme Annual Report 2024/25

  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 2021/22 2022/23 2023/24 2024/25
$ 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 1,295 1,271 1,348 1,709
Initial write-down on new borrowing 328 488 487 532 728 713 702 536 629 602 659 662 594 563 506 469 489 551 544 585
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 37.79 43.32 40.36 34.24
Table F12.1: Cost of lending in cents per dollar lent in half years

This table is produced online only (See T10.1 for reference)

Table F12.1: Cost of lending in cents per dollar lent in half years

Source: Te Tāhuhu o te Mātauranga | Ministry of Education
This is a supporting table for Figure 12, Part 2, Page 46 of the Student Loan Scheme Annual Report 2024/25

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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 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 35.62 38.67 45.83 42.32 42.6 39.44 35.89 33.71 **
Table F13: Lending and Repayments
Table F13: Lending and Repayments

Source: Te Tāhuhu o te Mātauranga | Ministry of Education
Refer to Figure 13, Part 2, Page 47 of the Student Loan Scheme Annual Report 2024/25
  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 2021/22 2022/23 2023/24 2024/25
$ million
New lending 981 1107 1122 1259 1423 1453 1477 1470 1511 1518 1512 1475 1328 1351 1404 1422 1287 1264 1341 1701
Repayment -486 -486 -550 -619 -652 -691 -767 -1054 -1032 -1114 -1209 -1273 -1348 -1371 -1477 -1495 -1605 -1634 -1596 -1563
Net cash out 495 621 572 640 771 762 710 416 479 404 303 202 -20 -20 -73 -73 -318 -370 -255 138
Table T16: Government’s cost of ownership of the Student Loan Scheme
Table T16: Government’s cost of ownership of the Student Loan Scheme

Source: Te Tāhuhu o te Mātauranga | Ministry of Education.
Refer to Table 16 Part 2, Page 48 of the Student Loan Scheme Annual Report 2024/25

Fair value of the asset $10,054 million
Discount rate for the asset 5.67%
Cost of capital associated with the Student Loan Scheme $544 million for the financial year 2025/26
Table T17: Student Loan Scheme administration costs
Table T17: Student Loan Scheme administration costs

Source: Te Manatū Whakahiato ora | Ministry of Social Development, Te Tari Taake | Inland Revenue, Te Tāhuhu o te Mātauranga | Ministry of Education and Tatauranga Aotearoa | Stats New Zealand IDI
Refer to Table 17, Part 2, Page 49 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. All amounts exclude GST.
  2. Inland Revenue's administrative costs have been restated to exclude business transformation costs.
  2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25
$ million
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 24.5 23.6 23.9 29.8
Inland Revenue 39.3 31.5 30.2 33.5 32.1 32.5 31.2 29.2 30.2 31.7 28.8 27.7 20.4 22.3 28.1
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 0.9 1 0.9 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 1.0 1.1 1.1 1.1
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 54.1 46.1 48.2 59.9
Table T18: Nominal and Carrying Value Movements
Table T18: Nominal and Carrying Value Movements

Source: Te Tāhuhu o te Mātauranga | Ministry of Education, Te Tari Taake | Inland Revenue
Refer to Table 18, Part 2, Page 50 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. 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.
  2. 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.
  3. The no interest for New Zealand-based borrowers policy came into effect on 1 April 2006.
  4. The establishment fee is the amount charged by Ministry of Social Development to borrowers each time he or she takes out a loan. Before 2012, this was known as the administration fee.
  5. The administration fee is an annual fee added to loans on 31 March. 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.
  6. Prior to 2008/09, the balancing item includes penalties and loan interest charged. In 2011/12, the balancing item reflects adjustments over the period.
  7. 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.
  8. In all years, new lending is net of repayments made to 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.
  9. 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.
  10. 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.
  2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25
    Notes $ million
Nominal value      
  Opening balance 1 14,837 15,340 15,735 15,869 16,034 16,134 16,260 16,137 15,942 15,867
  New lending 8 1,512 1,475 1,328 1,351 1,404 1,422 1,287 1,264 1,341 1,701
  Establishment fee 4 10 10 9 9 9 9 8 7 7 8
  Administration fee 5 23 23 23 23 24 22 22 21 21 20
  Repayment 8 -1,209 -1,273 -1,348 -1,371 -1,477 -1,495 -1,605 -1,634 -1,596 -1,563
  Interest 2, 7 135 120 111 110 87 93 69 55 62 86
  Penalties 2 64 72 74 92 98 116 121 123 126 148
  Voluntary Repayment Bonus   0 0 0 0 0 0 0 0 0 0
  Death Write-off   -15 -13 -31 -26 -31 -37 -24 -30 -29 -30
  Bankruptcy write-off   -18 -20 -32 -24 -14 -4 0 -2 -6 -6
  Balancing item 6               0 0 -10
  Closing balance   15,340 15,735 15,869 16,034 16,134 16,260 16,137 15,942 15,867 16,222
       
Carrying value                    
  Open balance 10 8,864 8,982 9,197 9,929 10,731 10,395 10,841 9,209 9,373 9,596
  New lending 8 1,512 1,475 1,328 1,351 1,404 1,422 1,287 1,264 1,341 1,701
  Initial write-down on new borrowing 9 -659 -662 -594 -563 -506 -469 -489 -551 -544 -585
  Establishment fee 10 10 9 9 9 9 8 7 7 8
  Repayment -1,209 -1,273 -1,348 -1,371 -1,477 -1,495 -1,605 -1,634 -1,596 -1,563
  Interest unwind 603 602 604 394 331 235 280 577 634 492
  Impairment -140 62 106 211 -476 488 519 277 269 -91
  Cost of loan collection   36 36 37 38 29 28 26
  Discount rate changes   734 343 220 -1,670 194 86 469
  Closing carrying value 8,982 9,197 9,302 10,731 10,395 10,841 9,209 9,372 9,596 10,054
     
                     
Average cost of lending in cents per dollar (headline)                      
      43.31 44.56 44.43 41.42 35.82 32.75 37.79 43.32 40.36 34.24
Table T18.1: History of repayment thresholds and interest rates

This table is produced online only (See T10.1 for reference)

Table T18.1: History of repayment thresholds and interest rates

Source: Te Tāhuhu o te Mātauranga | Ministry of Education, Te Tari Taake | Inland Revenue
This is a supporting table for Table 18, Part 2, Page 50 of the Student Loan Scheme Annual Report 2024/25

Notes:

  1. Since 1 April 2006 there has been no interest on student loans where the borrower is New Zealand based.
  2. For New Zealand based borrowers compulsory repayments are based on earnings.
  3. 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.
  4. Before April 2013 the student loan repayment rate was 10 cents in every dollar earned over the repayment threshold.
For the year ending 31 March Interest Rate Domestic Repayment Threshold ($ per year)
1993 8.2% 12,670
1994 7.2% 13,104
1995 7.0% 13,520
1996 9.0% 13,884
1997 8.4% 14,300
1998 8.2% 14,560
1999 8.0% 14,716
2000 7.0% 14,716
2001 7.0% 14,768
2002 7.0% 15,132
2003 7.0% 15,496
2004 7.0% 15,964
2005 7.0% 16,172
2006 7.0% 16,588
2007 6.9% 17,160
2008 6.8% 17,784
2009 6.7% 18,148
2010 6.8% 19,084
2011 6.6% 19,084
2012 6.4% 19,084
2013 6.4% 19,084
2014 5.9% 19,084
2015 5.5% 19,084
2016 5.3% 19,084
2017 4.8% 19,084
2018 4.4% 19,136
2019 4.3% 19,448
2020 4.0% 19,760
2021 3.5% 20,020
2022 3.0% 20,280
2023 2.8% 21,268
2024 2.9% 22,828
2025 3.3% 24,128
2026 4.9% 24,128

Student allowancesUpdated: July 2022

Statistics relating to the number and types of students receiving Student Allowances, and the amounts received.