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Student Loan January – March 2021

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

The number of students who have drawn down Student Loans increased

From January to March 2021, there were 119,097 students who borrowed under the Student Loan (SL) Scheme. This was 3,765 more students (3.3 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 $794,400,990, an increase of 3.7 percent when compared with the same period last year.

SL number and amount

From January to March 2021, about 80.5 percent of borrowers borrowed to pay for course fees.

SL number by component

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

Loan component January to March Annual change
2019 2020 2021 2019-20 2020-21
Course fees 100,011 95,032 95,910 -5.0% 0.9%
Course related costs 64,130 59,242 59,442 -7.6% 0.3%
Living costs 69,762 67,628 70,128 -3.1% 3.7%
Total number of Student Loan borrowers 120,269 115,332 119,097 -4.1% 3.3%
Amount borrowed for course fees $654,206,591 $640,891,940 $663,932,439 -2.0% 3.6%
Amount borrowed for course related costs $56,551,044 $52,127,748 $52,660,875 -7.8% 1.0%
Amount borrowed for living costs $71,134,401 $73,138,860 $77,807,676 2.8% 6.4%
Total amount borrowed $781,892,036 $766,158,548 $794,400,990 -2.0% 3.7%
Average course fees $6,541 $6,744 $6,922 3.1% 2.6%
Average course related costs $882 $880 $886 -0.2% 0.7%
Average living costs $1,020 $1,081 $1,110 6.0% 2.7%

Other Student Loan Statistics