Student Loans and Allowances: 2010 key facts

Press Release – Statistics New Zealand

In 2010: • 212,469 students borrowed from the student loan scheme, an increase of 13,746 students (6.9 percent) compared with 2009. • Students borrowed an average of $7,300 in the year, $310 more (4.4 percent) than in 2009. This was the highest …Student Loans and Allowances: 2010 key facts:

In 2010:
• 212,469 students borrowed from the student loan scheme, an increase of 13,746 students (6.9 percent) compared with 2009.
• Students borrowed an average of $7,300 in the year, $310 more (4.4 percent) than in 2009. This was the highest increase in amount borrowed since the student loan scheme began and was driven by an increase in the amount borrowed for course fees (up 6.5 percent to $5,080).
• 93,942 students received a student allowance, an increase of 13,236 students (16.4 percent) compared with 2009.
Of students who left study in 2009:
• Bachelor graduates had an average leaving debt of $25,750, up 3.3 percent compared with bachelor graduates who left in 2008.
• The average income received by borrowers and allowance recipients one year post-study was $29,900, a decrease of 4.5 percent on the income received a year after leaving study in 2008.
• The decrease in first-year income was particularly evident for those aged 20–24 years, which decreased 7.0 percent compared with first-year income of students aged 20–24 years who left in 2008.

Of student loan borrowers and allowance recipients who left study in 2005:
• Graduates aged 20–24 years earned an average 27.7 percent more in 2010 than students who left without completing their qualification ($45,240 compared with $35,430, respectively).

Student Loans pdf

Content Sourced from scoop.co.nz
Original url