The cost of studying in New Zealand varies greatly depending on your chosen course. You can expect to pay as much as NZ$75,000 (£36,000) per year for a degree in medicine, whereas social sciences are as little as NZ$20,000 (£9,680). Many New Zealanders choose government student loans to finance their studies in higher education, but what can international students to help with the costs of studying in New Zealand?
Your first step should be to investigate whether your home country offers any overseas funding opportunities, but if this proves unsuccessful then the nation’s government offers several scholarships for international students in New Zealand.
The Generation Study Abroad scheme is offered to students from the US who wish to spend one year studying at a New Zealand university. Another government scheme open to a broader range of international citizens is the New Zealand Development Scholarship. Successful applicants receive funding for up to four years of study in New Zealand, and a list of eligible nationalities can be found on the scheme’s website.
There are many international and voluntary organisations which offer international students help with the cost of studying in New Zealand or elsewhere. UNESCO and the World Health Organisation both administer scholarship schemes, as do many other international charities and bodies.
The Asian Development Bank also provides citizens of ADB member countries to study in New Zealand, and also assists students with living costs and travel expenses to the nation. Participating ADB countries can be found on the ADB website, but it includes countries as diverse as Afghanistan, China, Sri Lanka, Kiribati and the Maldives.
The majority of New Zealand’s universities offer their own scholarship programs which can be applied for directly via the university itself. The University of Canterbury offers first year funding of between NZ$ 10,000-$20,000 to international students who are beginning an undergraduate degree with the university.
There are also direct links between institutions and specific regions, as seen with the Waikato University’s Excellence Scholarships for Asia program. High achievers from India, Singapore, China and many other Asian nations can earn undergraduate or postgraduate scholarships worth NZ$10,000.
Whilst domestic students can make use of official government-backed student loan systems, these are unavailable to non-domestic students. However many of New Zealand’s banks have filled this gap by offering loans to international students at competitive rates. Westpac, ANZ, ASB and Credila are just some of the financial institutions offering student loans, with the main requirement being that a New Zealand citizen acts as a co-signer to back up your loan.
If you would like more information on the scholarships available to you from the New Zealand Government, New Zealand NGOs, or New Zealand universities, contact IEC Abroad today for expert advice on how to fund your studies in New Zealand.