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Student Loan January – December 2020

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

The data in this report are cumulative year-to-date figures. All percentages are computed using actual data and rounded to the nearest one decimal point. The total percentages may not add up to 100 percent due to rounding effects. The last three years of data and annual comparisons are presented in summary tables. Earlier timeseries are included in the downloadable spreadsheets.

Loan Components

From January to December 2020, there were 148,905 Student Loan borrowers, a slight decrease of 0.2 percent when compared with 2019. Of this total, 98,460 students borrowed to pay for course related costs, an increase of 3.0 percent when compared with 2019.

The total amount borrowed for course fees, course related costs and living costs was $1,551,625,011, an increase of 6.0 percent when compared with 2019. The increase in the total amount borrowed was due to the 90.6 percent increase in the amount borrowed for course related costs.

The increase in course related costs was due to the additional $1,000 that was provided temporarily to course related costs entitlements for eligible students studying in 2020. This was part of the Government’s response to the COVID-19 pandemic and aimed to help students meet additional costs associated with studying in a different way.

SL number and amount
SL number by component

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

Loan component January to December Annual change
2018 2019 2020 2018-19 2019-20
Course fees 126,860 126,388 124,143 -0.4% -1.8%
Course related costs 102,147 95,575 98,460 -6.4% 3.0%
Living costs 90,267 86,907 85,963 -3.7% -1.1%
Total number of Student Loan borrowers 154,608 149,229 148,905 -3.5% -0.2%
Amount borrowed for course fees $845,089,395 $866,133,763 $870,618,548 2.5% 0.5%
Amount borrowed for course related costs $100,164,688 $93,799,443 $178,776,774 -6.4% 90.6%
Amount borrowed for living costs $497,611,692 $503,732,911 $502,229,689 1.2% -0.3%
Total amount borrowed $1,442,865,775 $1,463,666,117 $1,551,625,011 1.4% 6.0%
Average course fees $6,662 $6,853 $7,013 2.9% 2.3%
Average course related costs $981 $981 $1,816 0.0% 85.1%
Average living costs $5,513 $5,796 $5,842 5.1% 0.8%

Other Student Loan Statistics