Business people taking notes.

Student Loan January – June 2021

For this report, a student is defined as a person who received at least one payment from StudyLink in the calendar year, up to the end of the specified reporting month.

The data in this report are cumulative calendar year-to-date figures. All percentages are computed using randomly rounded numbers, and then rounded to the nearest one decimal point. Total percentages may not add up to exactly 100 percent because of rounding effects. The last three years of data and annual comparisons are presented in summary tables. Earlier figures are included in the downloadable Excel files.

Loan Components

The number of students who have drawn down Student Loans increased

From January to June 2021, 133,101 students borrowed under the Student Loan (SL) Scheme. This was 4,752 more students (3.7 percent) when compared with the same period last year. The increase in the number of student borrowers may have been driven by the ongoing impact of the COVID-19 pandemic, as more people opt to study due to job uncertainty.

The total amount borrowed for course fees, course related costs and living costs was $1,067,007,593, a decrease of 0.1 percent when compared with the same period last year.

Fig 1 - SL number and amount

From January to June 2021, about 81.2 percent of borrowers borrowed to pay for course fees.

Fig 2 - SL number by component

Number of Student Loan borrowers, amount borrowed, and average amount borrowed, by loan component

Loan component January to June Annual change
2019 2020 2021 2019-20 2020-21
Course fees 110,148 105,684 108,030 -4.1% 2.2%
Course related costs 77,079 77,994 73,410 1.2% -5.9%
Living costs 76,776 73,629 77,781 -4.1% 5.6%
Total number of Student Loan borrowers 131,640 128,349 133,101 -2.5% 3.7%
Amount borrowed for course fees $721,956,028 $709,718,222 $747,552,027 -1.7% 5.3%
Amount borrowed for course related costs $71,042,347 $124,464,060 $68,115,497 75.2% -45.3%
Amount borrowed for living costs $235,521,834 $233,585,722 $251,340,069 -0.8% 7.6%
Total amount borrowed $1,028,520,209 $1,067,768,004 $1,067,007,593 3.8% -0.1%
Average course fees $6,555 $6,716 $6,920 2.5% 3.0%
Average course related costs $922 $1,596 $928 73.1% -41.9%
Average living costs $3,068 $3,172 $3,231 3.4% 1.9%

Note 1: The student loan amount available for course related costs for full-time students was temporarily increased in 2020 as part of the COVID-19 tertiary support package.

Note 2: “Total amount borrowed” includes borrowings for course fees, course related costs and living costs.

Note 3: Administration charges/establishment fees, repayments and refunds are not included in the above summary table but are available in the downloadable Excel file.

Note 4: Amounts are rounded to the nearest dollar.

Other Student Loan Statistics