Discover top international student loan options in the New Zealand

From textbooks to towering mountains, New Zealand offers an education along with an adventure! Set against stunning landscapes, with its diverse programs and friendly culture, the place offers students an enriching academic experience. Financing your education in New Zealand is a breeze - think hobbit - level east! With loans covering your tuition fee and your living expenses, you’re bound to ace you your classes and explore the Middle-earth in no time!

Many banking and non-banking institutions offer low interest loans for Indian students wanting to study in New Zealand. To check if you’re eligible to get a study loan in New Zealand, you need to check these boxes:

1. Be an Indian citizen.
2. Be at least 18 years old.
3. Have a decent academic history.
4. Already secured admission at an international university.
5. Intended course should be a professional/ technical graduation degree course/post-graduation degree like MCA, MBA, MS, or diploma course.

Note: The listed criteria are standard for Indian students going to New Zealand universities but to apply for a particular university, it is best to check their respective eligibility criteria.

The banks that offer student loans check your ability to repay the loan after completing your education. To do that, they confirm that you are a legal student who has been accepted into a reputed university in New Zealand.

1. ID proof
2. A filled copy of the loan application form
3. An offer letter given by the university
4. Residential proof
5. Documents of qualified exams (GMAT, TOEFL)
6. Original education certificates/mark sheets
7. Passport
8. Visa documents
9. Bank account statement
10. Passport size photographs

Note: Make sure to check the list of papers needed with the bank, as the requirements can vary based on the bank's rules for student loans in New Zealand.

It is always a good idea to check what your loan covers, besides the tuition fees. Many loan programs now help with more than just tuition fees—they can cover various expenses in New Zealand like:

1. Examination, Laboratory, Library Fees
2. College and Hostel Fees
3. Books, Instruments, Equipment
4. Travel Expenses
5. Caution Deposit, Refundable deposit, Building funds
6. Insurance premium for the student
7. Study tours, Thesis, Project work
8. Laptop

In India, there are generally two types of student loans for studying in New Zealand:

1. Secured Education Loans: To apply for a secured education loan, you need to have collateral like apartments or government bonds.
2. Unsecured Education Loan: To apply for an unsecured education loan, you don't need any collateral as a guarantee but you need a co-applicant whose income decides whether or not your loan is approved.

According to Education New Zealand sources, Indian students have to shell up NZD 22,000 to 37,000 per year for the annual tuition fees. Living expenses in New Zealand for Indian students also include accommodation, food, transportation, and personal expenses.

New Zealand has various good universities for international students but it is tough to get admission into them without a loan or scholarship. Here’s how Indian students can choose the best education loan program to fund their dream college and explore all the opportunities in New Zealand.

1. Understand the terms of the loan.
2. Double-check the college you choose.
3. Check the pros and cons of the loans you apply for.
4. Make sure that you explore all your options.
5. Check the buffer period that the loan can offer.
6. Choose the easiest repayment option.
7. Make sure that you have a proper plan to repay the loan.
8. If possible, make sure that you’re aware of the pre-payment fees.
9. Make sure that you clear all your doubts

Lorien is your one-stop destination to fly to your dream country and make a successful career by taking care of your entire study abroad plans in New Zealand. Here is why Lorien is your best buddy for your abroad dream:

1. We help students in getting loans that cover 100% university fees and cost of living.
2. We charge ZERO fees for our services.
3. We help you navigate necessary cosigners for Indian banks & no-cosigner provisions for international banks at low interest rates.
4. We help you compare the best education loans possible.
5. We keep track of your loan application and bargain for the best price.

New Zealand is widely being chosen by Indian students for higher education. While they offer a number of courses, here are the ones that offer favourable career choices in the future:

1. Engineering
2. Agricultural Science
3. Tourism
4. Information Technology
5. Health Sciences
6. Environmental Sciences
7. Business Administration

Indian students who pursue higher education in New Zealand need to submit a few documents for their study visa. The specific requirements can vary for each student, but here is a list to take note of:

1. An offer from an approved education provider
2. Evidence of tuition fee payment
3. ID proof
4. Passport
5. Proof of funds to cover your living expenses
6. Residence proof