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New Zealand is renowned for having an excellent education system, offering high quality learning and teaching opportunities for students of all backgrounds. Such an impressive education system however, comes at a price. As with many educational systems around the world, New Zealand’s education system has a fee structure attached. In this article, we’ll be discussing the fee structure of the New Zealand education system and the ways in which students and families can address the financial demands.
Tuition Fees By Institution
When it comes to tuition fees, the amount asked for by each institution can vary greatly. Private schools and universities often come with much higher fees than those that are state funded, with the price of tuition climbing furthermore depending on the course, level and location. Many universities in New Zealand offer lower tuition prices for international students, making it easier for those from abroad to seek higher education. It is important to take into account the personal financial situation when looking into tuition fees, making sure that the amount asked for is manageable.
Scholarships And Financial Aid
Fortunately, there are numerous ways in which students and families can lessen the financial burden of the New Zealand education system. The government offers attractive scholarships and financial aid to those who meet the criteria and some of the larger institutions also offer their own bursaries and grants.
- Tertiary Education Commission – a government body that offers student allowances, fees-free study and loan schemes for tertiary students.
- Coursesmart – a fee-free online programme for tertiary education offering up to 90 credit points towards a degree.
Additionally, there are countless charitable trusts, organizations and foundations that offer grants, bursaries and scholarships to those who are in need. This can be a great way of accessing the funds needed and ensuring that the cost of tuition and additional expenses don’t become too much of a strain.
Student Loans
Student loans are perhaps the most common way of covering the costs of a New Zealand education. All New Zealand citizens and permanent residents can apply for a student loan and a number of factors will be taken into account before a decision is made. Current students also have access to a Student Loan Living Cost scheme, which is designed to help cover the cost of living while studying.
It is important to remember that student loans must be paid back, and those who do not satisfy their repayment obligations can have a number of consequences. Additionally, failure to pay the loan back can result in further interest being added. It’s important to understand the full implications of this before applying for a student loan.
- Student Allowances – assistance with living costs during studies, such as rent, power and phone bills, internet, clothing and food.
- Student Loan Living Cost Scheme – assistance with student accommodation, rent, travel and food costs.
The New Zealand education system is world renowned, but with all great things come the associated fees and costs. With the tuition fees and other expenses, it can be difficult to access the education that one desires. Thankfully, there are numerous ways in which students and families can address the financial demands of a New Zealand education, making sure that everyone can benefit from the exemplary education system.