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Releases 6 Nov 2009

 

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The Student Loan Scheme Annual Report 2009 was tabled in Parliament yesterday and is now publicly available.

Student Loan Scheme Annual Report 2009

The Student Loan Scheme Annual Report provides Parliament and the public with information about the performance of the loan scheme. It includes information about the loan scheme’s financial performance from 1 July 2008 to 20 June 2009. The report is a valuable source of information about all aspects of the student loan scheme, including the demographic breakdown of borrowers, amounts borrowed, repayments made, and forecasts of future trends.

Highlights from the Student Loan Report 2009

• As at 30 June 2009, the nominal value of loan balances was $10,259 million.
• As at 30 June 2009, 562,000 people had a student loan with Inland Revenue for collection.
• Students have borrowed a total of $12,519 million since the loan scheme began.
• The average loan held by Inland Revenue was $16,213 and the median loan balance was $11,090.
• More than 260,000 loans have been fully repaid.
• 15 percent of borrowers with Inland Revenue were assessed as being based overseas.
• The median repayment time for those who finished study in 2006 is expected to be seven years.
• The median repayment time for those who left study in 2006 and remained in New Zealand was three years 11 months.

The full report is available on the Education Counts website.

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