Financial support for tertiary students
The latest statistics relating to financial support for students including student loans, allowances and scholarships.
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Table T1: Funding of tertiary education
Source: 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 10 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Government expenditure | 2020/21 | 2021/22 | appropriationsChange in structure of | 2022/23 | |
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Expenditure ($ million) | Student loans - fair value write down on new borrowings | $469 | $489 | $551 | |
Student allowances | $590 | $556 | $525 | ||
Tuition subsidies, Fees Free, TAFL, and HAFL | $2,818 | $2,836 | $2,931 | ||
Total | $3,876 | $3,882 | $4,007 | ||
Total as % of GDP | 1.13% | 1.07% | 1.02% |
Table F2: Median loan balance on leaving study
Source: Tatauranga Aotearoa | Stats New Zealand IDI Refer to Figure 2, Part 1, Page 11 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Year of last study | Median loan balance | Inflation adjusted Median loan balance |
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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
This table is produced online only
Source: Te Tāhuhu o te Mātauranga | Ministry of Education This is a supporting table for Figure 2, Part 1, Page 11 of the Student Loan Scheme Annual Report 2022/23 |
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All levels | Bachelor level | |||
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Year of last study | Male | Female | Male | Female |
$ | $ | $ | $ | |
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 fully repaid each year
Source: Tatauranga Aotearoa | Stats New Zealand IDI Refer Figure 4, Part 1, Page 12 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Exit Year | 2003 | 2007 | 2011 | 2015 | 2019 |
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2022 | 81.7% | 76.6% | 70.0% | 54.7% | 26.2% |
2021 | 80.4% | 74.8% | 66.8% | 47.1% | 17.0% |
2020 | 79.3% | 73.2% | 63.6% | 40.2% | 8.8% |
2019 | 77.7% | 70.7% | 59.2% | 32.0% | 0.0% |
2018 | 75.5% | 67.7% | 53.8% | 23.6% | |
2017 | 73.8% | 64.8% | 48.0% | 15.5% | |
2016 | 72.0% | 61.6% | 41.7% | 7.4% | |
2015 | 69.7% | 57.8% | 34.9% | 0.0% | |
2014 | 67.2% | 53.4% | 27.4% | ||
2013 | 64.2% | 48.2% | 19.5% | ||
2012 | 60.6% | 41.9% | 10.4% | ||
2011 | 57.0% | 35.0% | 0.0% | ||
2010 | 53.2% | 27.9% | |||
2009 | 48.4% | 19.9% | |||
2008 | 42.9% | 9.8% | |||
2007 | 36.7% | 0.0% | |||
2006 | 29.3% | ||||
2005 | 22.6% | ||||
2004 | 11.9% | ||||
2003 | 0.0% |
Earning potential
Five years after graduation the median earnings of those with a Master’s degree was 9 percent higher than those with a Bachelor’s degree and 34 percent higher than those with a level 5-7 certificate.
Table F3: Median earnings of students who completed a qualification
Source: Tatauranga Aotearoa | Stats New Zealand IDI, Te Amorangi Mātauranga Matua | Tertiary Education Commission interpretation. Refer to Figure 3, Part 1, Page 11 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Earnings as a percentage of national median earnings by year after qualification | ||||||||||
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(%) | ||||||||||
Qualification level | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
Doctorates | 132 | 132 | 137 | 141 | 140 | 150 | 150 | 151 | 146 | 161 |
Masters | 112 | 113 | 121 | 126 | 129 | 130 | 133 | 138 | 141 | 141 |
Honours & postgraduate certificates/diplomas | 118 | 121 | 125 | 129 | 130 | 132 | 134 | 139 | 141 | 140 |
Graduate certificates/diplomas | 99 | 100 | 102 | 106 | 107 | 110 | 116 | 116 | 122 | 121 |
Bachelor degrees | 108 | 111 | 115 | 117 | 118 | 120 | 121 | 121 | 121 | 124 |
Level 5-7 certificates/diplomas | 101 | 101 | 96 | 97 | 96 | 96 | 96 | 95 | 96 | 97 |
Level 4 certificates | 101 | 100 | 102 | 98 | 96 | 95 | 95 | 95 | 95 | 99 |
Level 1-3 certificates | 114 | 106 | 106 | 102 | 99 | 97 | 97 | 96 | 97 | 97 |
Participation and borrowing
Participation
In 2022 domestic participation in provider-based tertiary education decreased by 4 percent. This followed increases in participation in 2020 and 2021, and a period of declining participation up to then.
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 13 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Years | Students | EFTS |
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2022 | 343,990 | 218,555 |
2021 | 358,845 | 233,585 |
2020 | 328,940 | 212,825 |
2019 | 327,915 | 215,620 |
2018 | 335,560 | 220,190 |
2017 | 343,555 | 223,270 |
2016 | 353,440 | 230,745 |
2015 | 357,860 | 233,335 |
2014 | 362,865 | 239,565 |
2013 | 368,550 | 244,690 |
2012 | 372,750 | 245,680 |
2011 | 381,435 | 245,575 |
2010 | 418,140 | 254,505 |
2009 | 422,950 | 250,625 |
2008 | 418,625 | 235,100 |
2007 | 441,590 | 237,355 |
2006 | 445,430 | 235,410 |
2005 | 452,370 | 242,795 |
2004 | 432,655 | 243,045 |
2003 | 407,365 | 239,390 |
2002 | 379,820 | 224,120 |
2001 | 342,435 | 203,495 |
2000 | 314,615 | 190,530 |
1999 | 294,425 | 180,940 |
1998 | 259,280 | 160,115 |
1997 | 258,935 | 154,675 |
1996 | 260,530 | 148,270 |
1995 | 259,200 | 145,210 |
1994 | 245,920 | 139,770 |
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 14 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Participation and completion | 2020 | 2021 | 2022 | |
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Domestic students participating in tertiaryeducation | Total (000) | 329 | 359 | 344 |
20 years old and under | 84 | 87 | 83 | |
21-26 years old | 95 | 102 | 97 | |
27-50 years old | 122 | 138 | 134 | |
Over 50 years old | 28 | 32 | 31 | |
Female | 200 | 219 | 210 | |
Male | 128 | 139 | 132 | |
Another gender | 1 | 2 | ||
Māori | 70 | 75 | 71 | |
Pacific people | 33 | 36 | 34 | |
European | 207 | 225 | 215 | |
Asian | 53 | 61 | 63 | |
Domestic studentscompleting qualifications (000) | Non-degree | 64 | 75 | 68 |
Bachelors | 27 | 28 | 26 | |
Postgraduate | 14 | 16 | 16 | |
Total | 104 | 118 | 109 |
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 11 years.
Table T2.1: Trends in level of study among borrowers in 2022
This table is produced online only
Qualification level | Number of students |
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Level 1-3 Certificates | 3,954 |
Level 4 Certificates | 6,150 |
Level 5-7 Diplomas | 10,461 |
Level 7 Bachelors | 85,317 |
Level 8 Honours/Postgrad cert/dip | 13,698 |
Level 9 Masters | 8,826 |
Level 10 Doctorates | 1,254 |
Non Formal | 6 |
Missing | 39 |
Total | 129,771 |
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 14 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Qualification | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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Bachelors degrees or higher | 56.1% | 56.6% | 60.1% | 59.5% | 60.6% | 61.9% | 64.4% | 66.2% | 68.0% | 69.2% | 71.0% | 72.6% | 75.1% | 76.8% | 76.8% | 80.0% | 84.1% |
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% |
Table T2.2: Trends in the age profile of borrowers
This table is produced online only
Age groups | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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Under 18 | 3,206 | 4,143 | 4,473 | 4,246 | 4,148 | 3,942 | 4,147 | 4,333 | 4,033 | 3,978 | 3,059 | 2,602 | 2,347 | 2,031 | 1,632 | 1,440 | 1,199 | 1,146 | 574 | 429 | 411 | 315 | 222 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
Source: Te Manatū Whakahiato ora | Ministry of Social Development This is a supporting table for Table 2, Part 1, Page 14 of the Student Loan Scheme Annual Report 2022/23 Notes:
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2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
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Borrowers aged 26 or younger | 109,115 | 115,618 | 121,163 | 134,826 | 143,181 | 141,857 | 141,226 | 137,869 | 135,122 | 133,283 | 130,426 | 125,858 | 112,420 | 107,475 | 106,212 | 105,558 | 94,332 |
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% |
Borrowing
Since 1992, 1.47 million students have borrowed a total of $32.9 billion through the Student Loan Scheme. In 2022 there were 129,711 borrowers. This is 17,283 fewer than the number who borrowed in 2021.
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 15 of the Student Loan Scheme Annual Report 2022/23 Notes:
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All active borrowers | 2021 | 2022 | 2021 - 2022 change | ||
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n | % | ||||
Total number | 146,994 | 129,711 | -17,283 | -11.8% | |
Gender | Female | 92,985 | 82,548 | -10,437 | -11.2% |
Male | 53,307 | 46,200 | -7,107 | -13.3% | |
Another Gender | 705 | 963 | 258 | 36.6% | |
Age | Average age | 26 | 25 | ||
Median age | 22 | 22 | |||
20 years and under | 38,361 | 34,113 | -4,248 | -11.1% | |
21-26 years | 67,203 | 60,219 | -6,984 | -10.4% | |
27-50 years | 38,604 | 32,928 | -5,676 | -14.7% | |
Over 50 years | 2,841 | 2,451 | -390 | -13.7% | |
20 years and under (%) | 26.1 | 26.3 | |||
21-26 years (%) | 45.7 | 46.4 | |||
27-50 years (%) | 26.3 | 25.4 | |||
Over 50 years (%) | 1.9 | 1.9 | |||
Ethnic group | European (%) | 62.2 | 63.9 | ||
Māori (%) | 17.1 | 16.3 | |||
Pacific (%) | 9.3 | 9.1 | |||
Asian (%) | 16.0 | 17.0 | |||
Other (%) | 4.5 | 4.6 |
Table T3.1: Demographic characteristics of new active student loan borrowers
This table is produced online only
Source: Te Manatū Whakahiato ora | Ministry of Social Development This is a supporting table for Table 3, Part 1, Page 15 of the Student Loan Scheme Annual Report 2022/23 Notes:
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New active borrowers | 2021 | 2022 | 2021 - 2022 change | ||
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n | % | ||||
Total number | 34,152 | 28,131 | -6,021 | -17.6% | |
Gender | Female | 20,853 | 17,031 | -3,822 | -18.3% |
Male | 13,080 | 10,785 | -2,295 | -17.5% | |
Another Gender | 216 | 312 | 96 | 44.4% | |
Age | Average age | 23 | |||
Median age | 20 | ||||
20 years and under | 22,089 | 19,197 | -2,892 | -13.1% | |
21-26 years | 6,864 | 5,364 | -1,500 | -21.9% | |
27-50 years | 4,638 | 3,180 | -1,458 | -31.4% | |
Over 50 years | 546 | 378 | -168 | -30.8% | |
20 years and under (%) | 64.7 | 68.2 | |||
21-26 years (%) | 20.1 | 19.1 | |||
27-50 years (%) | 13.6 | 11.3 | |||
Over 50 years (%) | 1.6 | 1.3 | |||
Ethnic group | European (%) | 64.6 | 65.1 | ||
Māori (%) | 15.9 | 15.3 | |||
Pacific people (%) | 9.0 | 8.4 | |||
Asian (%) | 17.8 | 19.5 | |||
Other (%) | 4.6 | 4.7 |
Table F8: Borrowing trends since 1992
This table is produced online only
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 17 of the Student Loan Scheme Annual Report 2022/23 Notes:
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1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
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Loan borrowings ($m) | 160 | 272 | 342 | 398 | 444 | 577 | 654 | 566 | 782 | 915 | 940 | 995 | 983 | 989 | 1,107 | 1,180 | 1,241 | 1,389 | 1,551 | 1,583 | 1,574 | 1,599 | 1,601 | 1,622 | 1,602 | 1,568 | 1,452 | 1,472 | 1,560 | 1,499 | 1,386 |
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 |
Table F8.1: Number of total active borrowers and new active borrowers in each academic year
This table is produced online only
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 17 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Year | Total active borrowers | New active borrowers |
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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 in 2022 is 60 percent, down from 63 percent in 2021 and 70 percent in 2020. The part-time uptake rate in 2022 is 26 percent; down from 28 percent in 2021 and 30 percent in 2020.
The Average and Median amounts borrowed by loan component over the last 10 years show that between 2012 and 2022;
- average amounts borrowed for course fees increased by 32 percent
- average amounts borrowed for living costs increased by 76 percent
In 2022:
- average amount borrowed for course fees was $7,378. This is an increase of $145 or 2.0 percent on a year earlier
- average amount borrowed for living costs was $6,633. This is an increase of $526 or 8.6 percent on year earlier
Table F6.1: Number of students eligible to borrow
This table is produced online only
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 15 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Year | Students eligible to borrow | Borrowing uptake | Uptake rate |
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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 F6: Number of students eligible to borrow, number borrowing and the uptake rate
This table is produced online only
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 15 of the Student Loan Scheme Annual Report 2022/23
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Year | Full-time students eligible to borrow | Full-time student borrowing uptake | Full-time uptake rate | Part-time students eligible to borrow | Part-time student borrowing uptake | Part-time uptake rate |
---|---|---|---|---|---|---|
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 F7: Total amounts drawn by loan component
This table is produced online only
Source: Te Manatū Whakahiato ora | Ministry of Social Development Refer to Figure 7, Part 1, Page 15 of the Student Loan Scheme Annual Report 2022/23 |
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Year | Course Fees | Living Costs | Course-related Costs |
---|---|---|---|
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 | $65,008,000 |
Table F7.1: Average and median amounts borrowed by component
This table is produced online only
Source: Te Manatū Whakahiato ora | Ministry of Social Development This is a supporting table for Figure 7, Part 1, Page 15 of the Student Loan Scheme Annual Report 2022/23 |
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2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Course fees ($) | |||||||||||||
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 |
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 |
Living costs ($) | |||||||||||||
Average | 3,832 | 3,710 | 3,774 | 3,944 | 4,036 | 4,179 | 4,259 | 4,351 | 5,513 | 5,796 | 5,842 | 6,107 | 6,633 |
Median | 3,851 | 3,537 | 3,599 | 3,800 | 3,958 | 4,250 | 4,460 | 4,643 | 5,983 | 6,460 | 6,421 | 7,000 | 7,600 |
Course-related costs ($) | |||||||||||||
Average | 992 | 990 | 988 | 988 | 987 | 988 | 985 | 982 | 981 | 981 | 1,816 | 984 | 977 |
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 |
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 16 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
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2022 | Sub-sector | Number of borrowers |
Borrowing amount million ($) |
Average borrowing ($) |
---|---|---|---|---|
Course fees | University | 78,872 | 610.1 | 7,735 |
Te Pūkenga | 20,228 | 114.6 | 5,664 | |
Wānanga | 1,063 | 4.9 | 4,642 | |
PTE | 8,613 | 72.9 | 8,458 | |
Total | 108,776 | 802.5 | 7,377 | |
Course-related costs | University | 48,615 | 47.1 | 970 |
Te Pūkenga | 16,475 | 16.2 | 983 | |
Wānanga | 1,541 | 1.6 | 1,020 | |
PTE | 7,117 | 7.1 | 1,000 | |
Total | 73,748 | 72.0 | 977 | |
Living costs | University | 56,297 | 398.6 | 7,080 |
Te Pūkenga | 12,709 | 70.2 | 5,523 | |
Wānanga | 794 | 5.2 | 6,562 | |
PTE | 6,245 | 32.9 | 5,261 | |
Total | 76,045 | 506.9 | 6,665 | |
Totals | University | 91,067 | 1,055.8 | 11,594 |
Te Pūkenga | 25,230 | 201.0 | 7,965 | |
Wānanga | 1,865 | 11.7 | 6,282 | |
PTE | 11,543 | 112.8 | 9,774 | |
Total | 129,705 | 1,381.3 | 10,650 |
Table T4.1: Average course fees borrowed by sub-sector
This table is produced online only
Source: Te Manatū Whakahiato ora | Ministry of Social Development This is a supporting table for Table 4, Part 1, Page 16 of the Student Loan Scheme Annual Report 2022/23 Notes:
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2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 |
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 |
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 |
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 |
Table T4.2: Student loan borrowers by level of qualification and average amount borrowed
This table is produced online only
Source: Te Manatū Whakahiato ora | Ministry of Social Development This is a supporting table for Table 4, Part 1, Page 16 of the Student Loan Scheme Annual Report 2022/23 Notes:
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2018 | 2019 | 2020 | 2021 | 2022 | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Number of borrowers | Average amount borrowerd ($) | Number of borrowers | Average amount borrowerd ($) | Number of borrowers | Average amount borrowerd ($) | Number of borrowers | Average amount borrowerd ($) | Number of borrowers | Average amount borrowerd ($) | |
Doctorates | 1,445 | 10,120 | 1,451 | 9,625 | 1,365 | 10,993 | 1,314 | 10,071 | 1,254 | 11,106 |
Masters, honours, postgraduates certificates and postgraduate diplomas | 21,187 | 10,979 | 21,450 | 11,361 | 21,927 | 11,951 | 24,075 | 11,798 | 22,524 | 11,765 |
Bachelors degrees, graduate certificates and graduate diplomas | 93,444 | 10,271 | 91,656 | 10,781 | 91,131 | 11,415 | 92,262 | 10,959 | 85,317 | 11,337 |
Level 5–7 certificates/diplomas | 16,092 | 8,058 | 15,101 | 8,173 | 14,832 | 8,761 | 13,395 | 8,205 | 10,461 | 8,212 |
Level 1–4 certificates | 22,409 | 5,138 | 19,539 | 5,274 | 19,608 | 5,758 | 15,915 | 5,052 | 10,104 | 5,368 |
Other | 31 | 4,011 | 32 | 3,797 | 48 | 4,007 | 36 | 4,316 | 48 | 4,345 |
Total borrower numbers | 154,608 | 149,229 | 148,905 | 146,994 | 129,711 | |||||
Average borrowed for all qualifications | 9,391 | 9,867 | 10,479 | 10,197 | 10,689 |
Table T4.3: Number of students borrowing for living cost and receiving student allowances
This table is produced online only
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 16 of the Student Loan Scheme Annual Report 2022/23 Notes:
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2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 |
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 |
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 |
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 2022/23 tax year, full-time students could borrow up to $281.96 a week for living costs from the loan scheme, less any student allowances they received. The maximum entitlement is adjusted for inflation on 1 April each year.
In 2022:
- 33,690 students received a student allowance only
- 17,739 students received both student allowances student loan living costs
- 58,308 students received only student loan living costs
Table T4.4: Student allowances compared with student loan living cost borrowing
This table is produced online only
Source: Te Manatū Whakahiato ora | Ministry of Social Development This is a supporting table for Table 4, Part 1, Page 16 of the Student Loan Scheme Annual Report 2022/23 Notes:
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2022 | Number of students | Average allowances ($) | Average living costs loan ($) |
Average allowances and living costs loan ($) |
---|---|---|---|---|
Student allowances only | 33,690 | 11,371 | 11,371 | |
Student allowances and living costs loan | 17,739 | 9,508 | 3,014 | 12,523 |
Living costs loan only | 58,308 | 7,734 | 7,734 |
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
Source: 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, Page 18 of the Student Loan Scheme Annual Report 2022/23 Notes:
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N | 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 | 8,778 | 820 | 1,150 | 4,000 | 10,000 | 21,730 | 38,500 | 51,420 | 0.3 | 0.7 | 1.9 | 5.1 | 12.4 | n | n |
Level 5-7 certificates/diplomas | 4,695 | 1,790 | 3,580 | 8,470 | 17,750 | 36,110 | 62,610 | 78,670 | 0.4 | 0.9 | 2.5 | 5.6 | 10.8 | 19.6 | n | |
Bachelors and graduate certificates / diplomas | 15,078 | 8,160 | 12,790 | 20,130 | 34,590 | 50,690 | 70,160 | 89,980 | 1.1 | 2.2 | 3.8 | 6.5 | 10.0 | 15.0 | 20.3 | |
Postgraduate | 5,967 | 5,480 | 10,110 | 23,260 | 41,230 | 61,480 | 78,500 | 89,220 | 0.5 | 1.0 | 3.2 | 5.8 | 9.2 | 13.5 | 17.8 | |
Male | Level 1-4 certificates | 2,937 | 760 | 1,060 | 3,440 | 9,030 | 19,480 | 36,080 | 50,560 | 0.3 | 0.6 | 1.5 | 4.2 | 10.1 | n | n |
Level 5-7 diplomas | 1,578 | 1,800 | 3,330 | 8,350 | 19,310 | 41,230 | 71,200 | 86,620 | 0.4 | 0.7 | 2.2 | 5.4 | 10.8 | 19.4 | n | |
Bachelors and graduate certificates / diplomas | 5,442 | 9,260 | 13,930 | 21,650 | 36,000 | 52,900 | 73,280 | 94,570 | 1.2 | 2.2 | 3.8 | 6.3 | 9.7 | 14.5 | 19.3 | |
Postgraduate | 2,280 | 7,290 | 14,320 | 28,060 | 46,600 | 64,980 | 80,670 | 90,060 | 0.7 | 1.5 | 3.7 | 6.0 | 9.2 | 13.4 | 18.5 | |
Female | Level 1-4 certificates | 5,814 | 860 | 1,280 | 4,250 | 10,620 | 22,680 | 39,620 | 51,920 | 0.4 | 0.7 | 2.2 | 5.6 | 13.5 | n | n |
Level 5-7 diplomas | 3,099 | 1,790 | 3,710 | 8,490 | 17,190 | 33,630 | 58,300 | 75,150 | 0.5 | 1.0 | 2.7 | 5.7 | 10.9 | 19.8 | n | |
Bachelors and graduate certificates / diplomas | 9,603 | 7,820 | 12,090 | 19,410 | 33,680 | 49,500 | 68,190 | 86,760 | 1.1 | 2.1 | 3.9 | 6.6 | 10.1 | 15.2 | 20.9 | |
Postgraduate | 3,672 | 4,800 | 9,010 | 20,200 | 37,490 | 58,690 | 77,080 | 87,630 | 0.5 | 0.9 | 2.8 | 5.7 | 9.2 | 13.6 | 17.6 |
Table T6: Median leaving debt and repayment time by ethnicity and level of study for leavers in 2021
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 19 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Certificates 1-4 | Certificates/diplomas 5-7 | Bachelors | Postgraduate | All Levels | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | N | Median repayment time (years) | Median leaving debt ($) | |
By Ethnicity | |||||||||||||||
European | 9,951 | 5.1 | 10,580 | 5,859 | 5.2 | 17,020 | 18,303 | 6.0 | 29,200 | 6,816 | 5.8 | 40,410 | 40,932 | 5.7 | 23,430 |
Māori | 7,965 | 7.2 | 10,200 | 2,463 | 6.1 | 15,500 | 4,479 | 6.6 | 25,350 | 1,122 | 5.5 | 33,280 | 16,032 | 6.6 | 15,450 |
Pacific people | 2,598 | 6.1 | 9,500 | 1,071 | 5.7 | 15,510 | 3,075 | 6.7 | 26,540 | 765 | 6.1 | 37,640 | 7,509 | 6.4 | 19,160 |
Asian | 1,227 | 5.3 | 11,270 | 942 | 4.5 | 16,120 | 4,287 | 5.6 | 27,040 | 2,013 | 5.1 | 35,350 | 8,466 | 5.4 | 25,840 |
Table T6.1: Quartiles of actual and forecast repayment times
This table is produced online only
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 19 of the Student Loan Scheme Annual Report 2022/23 Notes:
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Year of last study | Level 1-4 certificates | Level 5-7 certificates/diplomas | Bachelors and graduate certificates/ diplomas | Postgraduate | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
25th percentile | Median | 75th percentile | 25th percentile | Median | 75th percentile | 25th percentile | Median | 75th percentile | 25th percentile | Median | 75th percentile | |
2021 | 2.2 | 5.8 | 13.9 | 2.3 | 5.4 | 10.9 | 3.4 | 6.0 | 9.7 | 2.9 | 5.6 | 9.0 |
2020 | 2.3 | 6.0 | 14.5 | 2.5 | 5.7 | 11.4 | 3.6 | 6.3 | 10.1 | 2.8 | 5.7 | 9.2 |
2019 | 2.4 | 6.1 | 16.0 | 2.6 | 5.9 | 11.4 | 3.8 | 6.6 | 10.3 | 2.6 | 5.9 | 9.4 |
2018 | 2.5 | 6.4 | 16.5 | 3.0 | 6.2 | 12.1 | 3.6 | 6.6 | 10.1 | 2.6 | 5.8 | 9.4 |
2017 | 2.5 | 6.5 | 16.9 | 3.0 | 6.5 | 12.7 | 3.7 | 6.5 | 10.3 | 2.6 | 5.4 | 9.3 |
2016 | 2.7 | 6.5 | 17.4 | 3.1 | 6.3 | 12.6 | 3.7 | 6.4 | 10.5 | 2.7 | 5.6 | 9.6 |
2015 | 2.8 | 6.6 | 17.7 | 3.2 | 6.4 | 12.9 | 3.7 | 6.5 | 10.6 | 2.6 | 5.5 | 9.4 |
2014 | 2.8 | 6.7 | 18.3 | 3.2 | 6.5 | 13.3 | 3.7 | 6.4 | 10.6 | 2.6 | 5.4 | 9.4 |
2013 | 2.8 | 6.4 | 17.7 | 3.1 | 6.6 | 13.8 | 3.6 | 6.4 | 10.8 | 2.4 | 5.4 | 9.2 |
2012 | 2.7 | 6.5 | 17.9 | 3.0 | 6.6 | 14.0 | 3.4 | 6.4 | 10.8 | 2.3 | 5.4 | 9.4 |
2011 | 2.9 | 7.2 | 21.4 | 2.8 | 6.5 | 14.2 | 2.8 | 6.1 | 10.8 | 1.7 | 4.8 | 9.0 |
2010 | 3.0 | 7.1 | 20.6 | 2.8 | 6.5 | 14.2 | 2.6 | 6.0 | 11.1 | 1.7 | 4.7 | 9.2 |
2009 | 3.2 | 7.5 | 21.2 | 2.8 | 6.5 | 14.2 | 2.7 | 6.1 | 11.3 | 1.8 | 4.4 | 9.4 |
2008 | 3.1 | 7.5 | 23.1 | 2.6 | 6.2 | 13.4 | 2.6 | 5.8 | 11.3 | 1.9 | 4.6 | 9.2 |
2007 | 2.8 | 7.3 | 20.9 | 2.6 | 6.5 | 14.3 | 2.7 | 5.9 | 11.5 | 1.8 | 4.7 | 9.6 |
2006 | 2.8 | 7.2 | 18.7 | 2.6 | 6.5 | 14.3 | 2.9 | 6.1 | 11.9 | 2.1 | 5.0 | 9.6 |
2005 | 2.9 | 7.3 | 17.8 | 2.8 | 6.7 | 14.9 | 3.0 | 6.5 | 12.6 | 2.6 | 5.7 | 10.8 |
2004 | 3.0 | 7.5 | 18.4 | 2.6 | 6.6 | 14.7 | 2.4 | 6.2 | 12.4 | 1.6 | 4.9 | 10.4 |
Table T7: Leaving Debt and Forecast repayment times for borrowers who left study in 2021
Repayment times (years) | Leaving debt ($) | |||||||
---|---|---|---|---|---|---|---|---|
N | Percentage of leavers | 25th percentile | median | 75th percentile | 25th percentile | median | 75th percentile | |
All | 64,740 | 100% | 2.9 | 5.8 | 10.4 | 9,050 | 21,510 | 41,140 |
By Gender | ||||||||
Another Gender | 219 | 0.3% | ||||||
Male | 23,499 | 36.3% | 2.7 | 5.5 | 9.7 | 9,040 | 22,760 | 43,680 |
Female | 41,025 | 63.4% | 3.0 | 6.0 | 10.9 | 9,050 | 20,860 | 39,730 |
By level of study | ||||||||
Level 1-4 certificates | 18,735 | 28.9% | 2.2 | 5.8 | 13.9 | 4,090 | 10,250 | 22,130 |
Level 5-7 certificates/diplomas | 9,231 | 14.3% | 2.3 | 5.4 | 10.9 | 7,570 | 16,440 | 32,340 |
Bachelors and graduate certficates/diplomas | 26,787 | 41.4% | 3.4 | 6.1 | 9.7 | 15,020 | 28,170 | 45,700 |
Postgraduate | 9,993 | 15.4% | 3.0 | 5.6 | 9.1 | 20,570 | 38,300 | 59,340 |
By Ethnicity | ||||||||
European | 40,932 | 2.8 | 5.7 | 9.7 | 9,920 | 23,430 | 43,530 | |
Māori | 16,032 | 2.9 | 6.6 | 13.8 | 6,420 | 15,450 | 32,100 | |
Pacific People | 7,509 | 3.1 | 6.4 | 12.5 | 7,750 | 19,160 | 37,080 | |
Asian | 8,466 | 2.8 | 5.4 | 9.3 | 12,690 | 25,840 | 43,860 |
Repayment times (years) | |||||
---|---|---|---|---|---|
By leaving debt band ($000) | N | Percentage of leavers | 25th percentile | median | 75th percentile |
<5 | 9,465 | 14.6% | 0.6 | 1.3 | 3.1 |
5-10 | 8,307 | 12.8% | 1.5 | 2.8 | 5.5 |
10-15 | 6,648 | 10.3% | 2.3 | 3.9 | 7.2 |
15-20 | 6,339 | 9.8% | 3.1 | 4.8 | 8.3 |
20-25 | 5,094 | 7.9% | 3.6 | 5.5 | 9.3 |
25-30 | 4,581 | 7.1% | 4.2 | 6.3 | 10.0 |
30-35 | 3,891 | 6.0% | 4.7 | 6.9 | 11.2 |
35-40 | 3,468 | 5.4% | 5.4 | 7.6 | 11.6 |
40-45 | 3,219 | 5.0% | 5.8 | 7.9 | 11.6 |
45-50 | 2,559 | 4.0% | 6.3 | 8.6 | 12.8 |
50-55 | 2,124 | 3.3% | 6.9 | 9.4 | 14.1 |
55-60 | 1,845 | 2.8% | 7.2 | 9.7 | 13.7 |
60-65 | 1,599 | 2.5% | 7.6 | 10.1 | 14.2 |
65-70 | 1,200 | 1.9% | 8.2 | 10.8 | 15.3 |
>70 | 4,398 | 6.8% | 9.6 | 13.0 | 19.1 |
Source: Tatauranga Aotearoa | Statistics New Zealand IDI and Te Tāhuhu o te Mātauranga | Ministry of Education Student Loans Integrated Model Refer to Table 7, Part 1, Page 20 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
||||||||
Repayment times (years) | Leaving debt ($) | |||||||
---|---|---|---|---|---|---|---|---|
By location | N | Percentage of leavers | 25th percentile | median | 75th percentile | 25th percentile | median | 75th percentile |
Always NZ based | 56,610 | 87.4% | 2.5 | 5.3 | 9.3 | 8,340 | 20,000 | 39,210 |
Not always NZ based | 8,133 | 12.6% | 6.8 | 11.3 | 22.8 | 17,240 | 32,370 | 52,580 |
Repayment performance
Borrowers and balances
As at 30 June 2023, there were 635,235 student loan borrowers, compared with 658,325 at the same time last year, a reduction of 3.5 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
Source: Te Tari Taake | Inland Revenue Refer to Table 8, Part 1, Page 21 of the Student Loan Scheme Annual Report 2022/23 |
|||
2021 | 2022 | 2023 | |
---|---|---|---|
New Zealand-based borrowers | |||
Number of borrowers | 575,486 | 555,606 | 530,550 |
Nominal balance ($m) | 12,835 | 12,602 | 12,226 |
Median loan ($) | 15,838 | 16,281 | 16,385 |
Average loan ($) | 22,316 | 22,764 | 23,022 |
Overseas-based borrowers | |||
Number of borrowers | 104,461 | 102,719 | 104,685 |
Nominal balance ($m) | 3,425 | 3,527 | 3,716 |
Median loan ($) | 22,223 | 23,407 | 24,254 |
Average loan ($) | 32,715 | 34,491 | 35,501 |
All borrowers summary | |||
Number of borrowers | 679,947 | 658,325 | 635,235 |
Nominal balance ($m) | 16,261 | 16,129 | 15,942 |
Median loan ($) | 17,154 | 17,262 | 17,490 |
Average loan ($) | 23,915 | 24,595 | 25,078 |
Table F9: Number of Borrowers and Nominal Balance
Source: Te Tari Taake | Inland Revenue Refer to Figure 9, Part 1, Page 22 of the Student Loan Scheme Annual Report 2022/23 |
|||||||||||
Number of Borrowers | Nominal Balance ($ million) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Year | All borrowers | NZB | OBB | Overall # change | Overall % change | All borrowers | NZB | OBB | Overall $m increase | Overall % change | |
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
Source: Te Tari Taake | Inland Revenue This is a supporting table for Figure 9, Part 1, Page 22 of the Student Loan Scheme Annual Report 2022/23 |
|||||||
Age group | All Borrowers | Age group | NZ-based borrowers only | Age group | Overseas-based borrower only | ||
---|---|---|---|---|---|---|---|
Under 18 | 128 | Under 18 | 127 | Under 18 | 1 | ||
18 | 2,760 | 18 | 2,759 | 18 | 1 | ||
19 | 11,621 | 19 | 11,604 | 19 | 17 | ||
20 | 18,944 | 20 | 18,855 | 20 | 89 | ||
21 | 21,850 | 21 | 21,631 | 21 | 219 | ||
22 | 24,128 | 22 | 23,697 | 22 | 431 | ||
23 | 26,190 | 23 | 25,457 | 23 | 733 | ||
24 | 26,817 | 24 | 25,687 | 24 | 1,130 | ||
25 | 27,952 | 25 | 26,296 | 25 | 1,656 | ||
26 | 27,993 | 26 | 25,768 | 26 | 2,225 | ||
27 | 26,637 | 27 | 23,966 | 27 | 2,671 | ||
28 | 25,588 | 28 | 22,610 | 28 | 2,978 | ||
29 | 24,046 | 29 | 20,818 | 29 | 3,228 | ||
30 | 23,290 | 30 | 19,852 | 30 | 3,438 | ||
31 | 21,877 | 31 | 18,222 | 31 | 3,655 | ||
32 | 21,167 | 32 | 17,366 | 32 | 3,801 | ||
33 | 19,875 | 33 | 15,966 | 33 | 3,909 | ||
34 | 18,285 | 34 | 14,547 | 34 | 3,738 | ||
35 | 17,003 | 35 | 13,389 | 35 | 3,614 | ||
36 | 15,568 | 36 | 12,186 | 36 | 3,382 | ||
37 | 14,317 | 37 | 11,045 | 37 | 3,272 | ||
38 | 13,417 | 38 | 10,254 | 38 | 3,163 | ||
39 | 13,103 | 39 | 9,791 | 39 | 3,312 | ||
40 | 12,576 | 40 | 9,176 | 40 | 3,400 | ||
41 | 12,143 | 41 | 8,731 | 41 | 3,412 | ||
42 | 11,668 | 42 | 8,319 | 42 | 3,349 | ||
43 | 10,916 | 43 | 7,682 | 43 | 3,234 | ||
44 | 10,856 | 44 | 7,560 | 44 | 3,296 | ||
45 | 10,322 | 45 | 7,067 | 45 | 3,255 | ||
46 | 9,738 | 46 | 6,634 | 46 | 3,104 | ||
47 | 9,183 | 47 | 6,215 | 47 | 2,968 | ||
48 | 8,747 | 48 | 5,889 | 48 | 2,858 | ||
49 | 8,179 | 49 | 5,575 | 49 | 2,604 | ||
50 | 7,417 | 50 | 5,159 | 50 | 2,258 | ||
51 | 6,915 | 51 | 4,951 | 51 | 1,964 | ||
52 | 6,182 | 52 | 4,495 | 52 | 1,687 | ||
53 | 5,611 | 53 | 4,124 | 53 | 1,487 | ||
54 | 5,121 | 54 | 3,774 | 54 | 1,347 | ||
55 | 4,842 | 55 | 3,559 | 55 | 1,283 | ||
56 | 4,437 | 56 | 3,294 | 56 | 1,143 | ||
57 | 3,959 | 57 | 3,018 | 57 | 941 | ||
58 | 3,896 | 58 | 2,882 | 58 | 1,014 | ||
59 | 3,524 | 59 | 2,650 | 59 | 874 | ||
60 | 3,551 | 60 | 2,682 | 60 | 869 | ||
61 | 3,340 | 61 | 2,545 | 61 | 795 | ||
62 | 2,913 | 62 | 2,223 | 62 | 690 | ||
63 | 2,641 | 63 | 2,036 | 63 | 605 | ||
64 | 2,290 | 64 | 1,824 | 64 | 466 | ||
65+ | 21,710 | 65+ | 16,591 | 65+ | 5,119 | ||
Total | 635,233 | Total | 530,548 | Total | 104,685 |
Table F9.2: Average and Median Loan Balances as at 30 June
This table is produced online only
Source: Te Tari Taake | Inland Revenue This is a supporting table for Figure 9, Part 1, Page 22 of the Student Loan Scheme Annual Report 2022/23 |
||
Year | Average ($) | Median ($) |
---|---|---|
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 |
The borrower base – 635,235 borrowers, owe a total nominal balance of $15,942 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 2023;
- 57 percent of overseas-based borrows have loan balances over $20,000 compared with 43 percent of New Zealand-based borrowers
- 22 percent of overseas-based borrowers have loans over $50,000 compared to 11 percent of New Zealand-based borrowers.
Table F10: Range and Distribution of loan balances at 30 June
Source: Te Tari Taake | Inland Revenue Refer to Figure 10, Part 1, Page 22 of the Student Loan Scheme Annual Report 2022/23 |
|||||
Balance range | NZB | OBB | All borrowers | NZB | OBB |
---|---|---|---|---|---|
$0.1 - 20 | 39 | 2 | 41 | 0.0% | 0.0% |
$20.01 - 1,999 | 38,175 | 3,802 | 41,977 | ||
$2,000 - 3,999 | 36,544 | 4,093 | 40,637 | 6.9% | 3.9% |
$4,000 - 5,999 | 38,559 | 4,731 | 43,290 | 7.3% | 4.5% |
$6,000 - 7,999 | 35,884 | 4,941 | 40,825 | 6.8% | 4.7% |
$8,000 - 9,999 | 33,668 | 4,930 | 38,598 | 6.4% | 4.7% |
$10,000 - 14,999 | 65,935 | 12,081 | 78,016 | 12.4% | 11.5% |
$15,000 - 19,999 | 53,614 | 10,304 | 63,918 | 10.1% | 9.8% |
$20,000 - 24,999 | 45,433 | 8,829 | 54,262 | 8.6% | 8.4% |
$25,000 - 29,999 | 36,108 | 7,700 | 43,808 | 6.8% | 7.4% |
$30,000 - 34,999 | 28,891 | 6,397 | 35,288 | 5.5% | 6.1% |
$35,000 - 39,999 | 23,938 | 5,349 | 29,287 | 4.5% | 5.1% |
$40,000 - 44,999 | 19,865 | 4,493 | 24,358 | 3.7% | 4.3% |
$45,000 - 49,999 | 15,181 | 3,662 | 18,843 | 2.9% | 3.5% |
$50,000 - 54,999 | 11,911 | 2,959 | 14,870 | 2.2% | 2.8% |
$55,000 - 59,999 | 9,860 | 2,596 | 12,456 | 1.9% | 2.5% |
$60,000 - 79,999 | 22,133 | 7,542 | 29,675 | 4.2% | 7.2% |
$80,000 - 99,999 | 8,263 | 3,855 | 12,118 | 1.6% | 3.7% |
$100,000 - 119,999 | 3,281 | 2,356 | 5,637 | 0.6% | 2.3% |
$120,000 - 139,999 | 1,409 | 1,527 | 2,936 | 0.3% | 1.5% |
> $139,999 | 1,050 | 2,538 | 3,588 | 0.2% | 2.4% |
Total | 529,741 | 104,687 | 634,428 | 100% | 100% |
Borrower segments
The comparison of both New Zealand-based and overseas-based borrowers by activity uses the following activity segments:
- Borrowing – those who are currently borrowing from the scheme
- Borrowing and repaying – those who are borrowing but their income is above the repayment threshold so they are repaying previously drawn loans or making voluntary repayments
- Repaying – those who have completed study and are repaying their loans
- Inactive participants – those who have a positive loan balance but did not interact with the scheme in the last financial year
Table F9.3: Borrower numbers by activity
This table is produced online only
Source: Te Tari Taake | Inland Revenue This is a supporting table for Figure 9, Part 1, Page 22 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
||||
2019/20 | 2020/21 | 2021/22 | ||
---|---|---|---|---|
New Zealand-based borrowers | Borrowing | 64,795 | 55,014 | 36,998 |
Borrowing and repaying | 91,075 | 113,606 | 103,053 | |
Repaying | 272,785 | 268,029 | 306,587 | |
Inactive | 155,412 | 135,780 | 130,300 | |
Overseas-based borrowers | Borrowing | 345 | 237 | 241 |
Borrowing and repaying | 821 | 628 | 848 | |
Repaying | 48,633 | 40,829 | 43,336 | |
Inactive | 58,384 | 62,689 | 64,145 | |
Total | 692,250 | 676,812 | 685,508 |
Loan repayments
Overall loan repayments have continued to increase. The repayments through the PAYE system show an increase of 4.4% ($53m).
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
Source: Te Tari Taake | Inland Revenue administration data. Refer to Table 9, Part 1, Page 23 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
||||
Repayments | 2020/21 | 2021/22 | 2022/23 | |
---|---|---|---|---|
$ million | ||||
PAYE | 1,067.8 | 1,194.8 | 1,247.5 | |
From borrower | 427.0 | 409.8 | 386.0 | |
Total | 1,494.7 | 1,604.7 | 1,633.5 | |
Annual % change | ||||
PAYE | -2.3 | 11.9 | 4.4 | |
From borrower | 11.1 | -4.0 | -5.8 | |
Total | 1.2 | 7.3 | 1.8 |
Table T10.1: Loan Repayments directly from borrowers
This table is produced online only
Source: Te Tari Taake | Inland Revenue This is a supporting table for Table 10, Part 1, Page 23 of the Student Loan Scheme Annual Report 2022/23 |
||||||
2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 | 2022/23 | |
---|---|---|---|---|---|---|
New Zealand-based | ||||||
$million | 166.1 | 168.2 | 172.8 | 229.3 | 249.4 | 230.5 |
Annual % change | 2.2% | 1.3% | 2.7% | 32.7% | 8.8% | -7.6% |
Overseas-based | ||||||
$million | 221.3 | 206.3 | 211.6 | 197.7 | 160.5 | 155.5 |
Annual % change | 3.0% | -6.8% | 2.6% | -6.6% | -18.8% | -3.1% |
Total | ||||||
$million | 387.4 | 374.5 | 384.4 | 427.0 | 409.9 | 386.0 |
Annual % change | 2.6% | -3.3% | 2.6% | 11.1% | -4.0% | 5.8% |
Overdue repayments
Student loan repayments become overdue when borrowers do not meet their repayment obligation by the due date. Overall, the number of borrowers with overdue repayments increased by 3.6 percent in 2022. The total amount overdue increased by 17.6 percent on the previous year.
Table T10: Overdue student loan repayments
Source: Te Tari Taake | Inland Revenue administration data Refer to Table 10, Part 1, Page 24 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
|||
Overdue repayments | 2021/22 | 2022/23 | % Change 2022-23 |
---|---|---|---|
New Zealand-based | |||
Overdue amount ($m) | 152.4 | 168.1 | 10.3% |
No. of borrowers | 29,120 | 30,037 | 3.1% |
Average amount outstanding ($) | 5,233.0 | 5,596.5 | 6.9% |
Overseas-based | |||
Overdue amount ($m) | 1,870.3 | 2,042.7 | 9.2% |
No. of borrowers | 77,492 | 77,048 | -0.6% |
Average amount outstanding ($) | 24,135.7 | 26,512.5 | 9.8% |
Total/overall | |||
Overdue amount ($m) | 2,022.7 | 2,210.8 | 9.3% |
No. of borrowers | 106,612 | 107,085 | 0.4% |
Average amount outstanding ($) | 18,972.6 | 20,645.6 | 8.8% |
Table T11: Age and location of overdue repayments at 30 June
Source: Te Tari Taake | Inland Revenue Refer to Table 11, Part 1, Page 25 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
||||
2022 | 2023 | |||
---|---|---|---|---|
Age of overdue repayments |
$ million | % | $ million | % |
New Zealand-based Borrowers | ||||
0-1 month | 0.0 | 0.0% | 0.1 | 0.1% |
2-3 months | 9.9 | 5.7% | 14.2 | 8.4% |
4-6 months | 7.8 | 4.5% | 8.1 | 4.8% |
7-12 months | 1.7 | 1.0% | 2.3 | 1.4% |
1-2 years | 13.1 | 7.6% | 15.5 | 9.2% |
2-5 years | 45.0 | 26.0% | 34.5 | 20.5% |
5-10 years | 62.0 | 35.8% | 56.8 | 33.8% |
>10 years | 33.7 | 19.5% | 36.5 | 21.7% |
Total | 173.3 | 100.0% | 168.1 | 100.0% |
Overseas-based Borrowers | ||||
0-1 month | 0.0 | 0.0% | 0.1 | 0.0% |
2-3 months | 0.3 | 0.0% | 0.9 | 0.0% |
4-6 months | 70.3 | 3.8% | 66.6 | 3.3% |
7-12 months | 65.3 | 3.5% | 61.6 | 3.0% |
1-2 years | 131.6 | 7.1% | 129.6 | 6.3% |
2-5 years | 421.5 | 22.7% | 412.5 | 20.2% |
5-10 years | 689.3 | 37.2% | 769.1 | 37.7% |
>10 years | 474.8 | 25.6% | 602.4 | 29.5% |
Total | 1,853.2 | 100.0% | 2,042.7 | 100.0% |
Table T12: Special deduction rate
Source: Te Tari Taake | Inland Revenue Refer to Table 12, Part 1, Page 25 of the Student Loan Scheme Annual Report 2022/23 |
|||
Special rate type | 2020/21 | 2021/22 | 2022/23 |
---|---|---|---|
Repayment Deduction Exemption | 7,146 | 3,801 | 3,721 |
Unused repayment rate | 35 | 180 | 215 |
Hardship | 513 | 1,502 | 2,480 |
Totals | 7,694 | 5,486 | 6,416 |
Table F11: Number of loans fully repaid at 30 June
Source: Te Tari Taake | Inland Revenue administration data. Refer to Figure 11, Part 1, Page 26 of the Student Loan Scheme Annual Report 2022/23 |
|
Year | Loans repaid |
---|---|
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 |
Table T13: Capitalisation of overdue amounts
Source: Te Tari Taake | Inland Revenue Refer to Table 13, Part 1, Page 25 of the Student Loan Scheme Annual Report 2022/23 |
|||
New Zealand-based capitalisations | |||
---|---|---|---|
2020/21 | 2021/22 | 2022/23 | |
Number of borrowers | 3,039 | 2,212 | 1,598 |
Amount capitalised ($ million) | 15.5 | 11.4 | 10.0 |
Overseas-based capitalisations | |||
2020/21 | 2021/22 | 2022/23 | |
Number of borrowers | 3,791 | 2,934 | 2,441 |
Amount capitalised ($ million) | 27.1 | 15.6 | 23.8 |
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 five years, repayments have exceeded lending. Over the 2022/23 financial year $1,264 million in cash was lent to students and $1,634 million was received in repayments meaning that there was a cash surplus of $370 million.
Table F12: 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 12, Part 2, Page 28 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
||||||||
At 30 June | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|---|---|---|
$ million | ||||||||
Impairment | -89 | 45 | 103 | 211 | -476 | 488 | 519 | 277 |
Discount rate | 408 | -140 | 190 | 734 | 343 | 220 | -1,670 | 194 |
Table F13: Lending and initial write down on this lending
Source: Te Tāhuhu o te Mātauranga | Ministry of Education Refer to Figure 13, Part 2, Page 29 of the Student Loan Scheme Annual Report 2022/23 |
||||||||||||||||||
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$ 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 | 1,294 | 1,271 |
Initial write-down on new borrowing | 328 | 488 | 487 | 532 | 728 | 713 | 702 | 536 | 629 | 602 | 659 | 662 | 594 | 563 | 506 | 469 | 489 | 551 |
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 | 43.39 |
Table F13.1: Cost of lending in cents per dollar lent in half years
This table is produced online only
Source: Te Tāhuhu o te Mātauranga | Ministry of Education This is a supporting table for Figure 13, Part 2, Page 29 of the Student Loan Scheme Annual Report 2022/23 |
|||||||||||||||||||||||||||||||
2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 | ** |
Table F14: Lending and Repayments
Source: Te Tāhuhu o te Mātauranga | Ministry of Education Refer to Figure 14, Part 2, Page 30 of the Student Loan Scheme Annual Report 2022/23 |
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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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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$ million | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New lending | 981 | 1107 | 1122 | 1259 | 1423 | 1453 | 1477 | 1470 | 1511 | 1518 | 1512 | 1475 | 1328 | 1351 | 1404 | 1422 | 1287 | 1264 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment | -486 | -486 | -550 | -619 | -652 | -691 | -767 | -1054 | -1032 | -1114 | -1209 | -1273 | -1348 | -1371 | -1477 | -1495 | -1605 | -1634 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash out | 495 | 621 | 572 | 640 | 771 | 762 | 710 | 416 | 479 | 404 | 303 | 202 | -20 | -20 | -73 | -73 | -318 | -370 |
Table T14: Write-off due to death, bankruptcy or fraud
Source: Te Tari Taake | Inland Revenue Refer to Table 14, Part 1, Page 26 of the Student Loan Scheme Annual Report 2022/23 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. |
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Write-offs | 2020/21 | 2021/22 | 2022/23 |
---|---|---|---|
$ million | |||
Bankrupt | 3.9 | -0.06 | 2.5 |
Deceased | 37.3 | 24 | 29.7 |
Fraud | 0.03 | -0.11 | 0.01 |
Number of cases | |||
Bankrupt | 103 | 34 | 76 |
Deceased | 2,633 | 1,487 | 1,685 |
Fraud | <6 | <6 | <6 |
Table T15: Nominal and Carrying Value Movements
Source: Te Tāhuhu o te Mātauranga | Ministry of Education. Refer to Table15 Part 2, Page 30 of the Student Loan Scheme Annual Report 2022/23 |
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Fair value of the asset | $ 9,373 million |
Discount rate for the asset | 6.94% |
Cost of capital associated with the Student Loan Scheme | $650 million for the financial year 2023/24 |
Table T16: 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 16, Part 2, Page 31 of the Student Loan Scheme Annual Report 2022/23 Notes:
|
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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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$ 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 |
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 |
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 |
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 |
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 |
Table T17: Nominal and Carrying Value Movements
Source: Te Tāhuhu o te Mātauranga | Ministry of Education, Te Tari Taake | Inland Revenue Refer to Table 17, Part 2, Page 32 of the Student Loan Scheme Annual Report 2022/23 Notes:
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2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 | 2022/23 | |||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Notes | $ million | |||||||||||
Nominal value | ||||||||||||
Opening balance | 13,562 | 14,235 | 14,837 | 15,340 | 15,735 | 15,869 | 16,034 | 16,134 | 16,260 | 16,137 | ||
New lending | 3 | 1,511 | 1,518 | 1,512 | 1,475 | 1,328 | 1,351 | 1,404 | 1,422 | 1,287 | 1,264 | |
Establishment fee | 1 | 11 | 11 | 10 | 10 | 9 | 9 | 9 | 9 | 8 | 7 | |
Administration fee | 2 | 22 | 22 | 23 | 23 | 23 | 23 | 24 | 22 | 22 | 21 | |
Repayment | 3 | -1,032 | -1,114 | -1,209 | -1,273 | -1,348 | -1,371 | -1,477 | -1,495 | -1,605 | -1,634 | |
Interest | 151 | 141 | 135 | 120 | 111 | 110 | 87 | 93 | 69 | 55 | ||
Penalties | 49 | 58 | 64 | 72 | 74 | 92 | 98 | 116 | 121 | 123 | ||
Voluntary Repayment Bonus | -14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Death Write-off | -9 | -19 | -15 | -13 | -31 | -26 | -31 | -37 | -24 | -30 | ||
Bankruptcy write-off | -15 | -16 | -18 | -20 | -32 | -24 | -14 | -4 | 0 | -2 | ||
Balancing item | 0 | |||||||||||
Closing balance | 14,235 | 14,837 | 15,340 | 15,735 | 15,869 | 16,034 | 16,134 | 16,260 | 16,137 | 15,942 | ||
Carrying value | ||||||||||||
Open balance | 4 | 8,288 | 8,716 | 8,864 | 8,982 | 9,197 | 9,929 | 10,731 | 10,395 | 10,841 | 9,209 | |
New lending | 3 | 1,511 | 1,518 | 1,512 | 1,475 | 1,328 | 1,351 | 1,404 | 1,422 | 1,287 | 1,264 | |
Initial write-down on new borrowing | -629 | -602 | -659 | -662 | -594 | -563 | -506 | -469 | -489 | -551 | ||
Establishment fee | 11 | 11 | 10 | 10 | 9 | 9 | 9 | 9 | 8 | 7 | ||
Repayment | -1,032 | -1,114 | -1,209 | -1,273 | -1,348 | -1,371 | -1,477 | -1,495 | -1,605 | -1,634 | ||
Interest unwind | 579 | 604 | 603 | 602 | 604 | 394 | 331 | 235 | 280 | 577 | ||
Impairment | -12 | -269 | -140 | 62 | 106 | 211 | -476 | 488 | 519 | 277 | ||
Cost of loan collection | 36 | 36 | 37 | 38 | 29 | |||||||
Discount rate changes | 734 | 343 | 220 | -1,670 | 194 | |||||||
Closing carrying value | 8,716 | 8,864 | 8,982 | 9,197 | 9,302 | 10,731 | 10,395 | 10,841 | 9,209 | 9,372 | ||
Average cost of lending in cents per dollar (headline) | ||||||||||||
41.35 | 39.35 | 43.31 | 44.56 | 44.43 | 41.4 | 35.82 | 32.75 | 37.79 | 43.35 |
Table T17.1: 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 17, Part 2, Page 32 of the Student Loan Scheme Annual Report 2022/23 Notes:
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For the year ending 31 March | Interest Rate | Domestic Repayment Threshold ($ per year) |
---|---|---|
1993 | 8.2% | 12,670 |
1994 | 7.2% | 13,104 |
1995 | 7.0% | 13,520 |
1996 | 9.0% | 13,884 |
1997 | 8.4% | 14,300 |
1998 | 8.2% | 14,560 |
1999 | 8.0% | 14,716 |
2000 | 7.0% | 14,716 |
2001 | 7.0% | 14,768 |
2002 | 7.0% | 15,132 |
2003 | 7.0% | 15,496 |
2004 | 7.0% | 15,964 |
2005 | 7.0% | 16,172 |
2006 | 7.0% | 16,588 |
2007 | 6.9% | 17,160 |
2008 | 6.8% | 17,784 |
2009 | 6.7% | 18,148 |
2010 | 6.8% | 19,084 |
2011 | 6.6% | 19,084 |
2012 | 6.4% | 19,084 |
2013 | 6.4% | 19,084 |
2014 | 5.9% | 19,084 |
2015 | 5.5% | 19,084 |
2016 | 5.3% | 19,084 |
2017 | 4.8% | 19,084 |
2018 | 4.4% | 19,136 |
2019 | 4.3% | 19,448 |
2020 | 4.0% | 19,760 |
2021 | 3.5% | 20,020 |
2022 | 3.0% | 20,280 |
2023 | 2.8% | 21,268 |
2024 | 2.9% | 22,828 |
Student allowancesUpdated: Jul-2022
Statistics relating to the number and types of students receiving Student Allowances, and the amounts received.
- Student allowances 2021 [MS Excel 249kB]