Investing in your education: Understanding education loan options for New Zealand
                     Investing in your education: Understanding 
education loan options for New Zealand
 Studying at one of the most prestigious universities in New Zealand can be a 
dream coming true. It can give you a career prospect but it requires a significant 
bank balance for which many students seek an education loan for New Zealand. 
There are several banks and other financial institutions that provide study loans to 
students in New Zealand. However, to avail of this loan, certain eligibility criteria 
will be discussed in the following. Let us first understand the higher education 
system of New Zealand and how it will be a great opportunity for students to study 
there.
 New Zealand has a total of eight research-based government universities. From business to 
engineering, there is a wide range, of options that students can choose from. Banks and financial 
institutions in India are always keen on providing students with education loans if they have enrolled in 
any of these eight universities. Acquiring a study loan becomes simpler if enrolled in one of these 
universities. The intake sessions are usually between February and July. The average cost of studying 
at any of these eight universities in New Zealand is $25000 to $40000
 Types of Education Loans for New Zealand
 Undergrad Education Loan: The Undergrad education loan is given to those students who are willing 
to pursue an undergrad course for 3 to 4 years in New Zealand.
 Professional/Graduate Loan: This is the education loan provided to those students who are willing to 
pursue higher education in New Zealand, above graduation.
 Career education loan: This is the loan that is provided to those students who are aiming to pursue a 
career-oriented program in New Zealand.
The eligibility
 The following are the eligibility criteria to qualify for an education loan to study in New Zealand:
 The loan applicant must be an Indian citizen.
 The applicant has secured enrollment at one of the eight government universities of New Zealand for a 
technical/professional course.
 The applicant must have the required financial background and an academic profile. This criterion depends on the 
type of loan he/she is applying for.
 The types of education loan
 There are two types of education loans that a student can apply for depending on the requirement:
 Education loan with collateral: This is the education loan where the applicant can avail of the loan but will have 
to provide collateral. It will be seen as a security against the loan provided by the bank.
 Education loan without collateral: In this type of education loan the student will not have to pledge any 
collateral security. However, there has to be a co-applicant which can be the parents or the guardians of the 
applicant. In India, it is private banks and financial institutes provide this type of unsecured education loan.
In conclusion
To conclude the topic, it can be said that going to New Zealand and studying there at a prestigious college can 
change the life of a person. Pursuing higher education from a reputed college will lead the student to the path of 
excellence. For that investment in education is very necessary. The investment can be done in the form of a loan 
from banks. Student loans New Zealand can be acquired if the student has a good academic record and 
qualifies to enroll in a university there.
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