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SUPPORT SERVICES » Financial Support
  

Financial Support

MONEY MATTERS

Studying at tertiary level is a big investment. It’s vital to be study ready and have your finances sorted long before you begin classes, so that you can focus on your studies and make sure your investment pays off.

Student Loans and Allowances

These are administrated by StudyLink, and your application needs to be completed online. Remember: You need to apply at least four weeks before your course starts, as the application process takes time. Apply online at www.studylink.govt.nz or call 0800 88 99 00.


Student Loan

This is money loaned to you from the government to help you finance your study. Your Student Loan is made up of three different parts:

1. Course fees – a sum paid directly to your education provider to cover compulsory fees

2. Course Related Costs – you can borrow up to $1000 in a 52 week period to help pay for any materials, tools, clothing, books, etc. required for your course. This should also be used towards your travel costs, as no extra funding for travel is available.

3. Living Costs Loan – a weekly payment to help towards your living expenses. If you are eligible for full Student Allowance, you cannot access Living Costs Loan as well. You choose which parts of the Student Loan you need. You have to pay back your Student Loan, so it makes sense to only borrow what you need.


Student Allowance

This is a weekly payment to help with your living expenses while you study. It’s money that you do not have to pay back.

Eligibility for Student Allowance is dependent on your circumstances and is means tested on your parental income if you are younger than 24.

If you get a Student Allowance for tertiary study, you’ll need to pass more than half of your course to be able to get it again in future.

It is important that you get your Student Allowance sorted in plenty of time, so apply at least four weeks in advance.

Phone: 0800 88 99 00
Web: www.studylink.govt.nz

  • Remember, Student Allowance and Living Costs Loan payments are paid in arrears, so you will receive your first payment in week 2 of your course (or later if you applied late).
     
  • If you are coming off a main benefit (eg. Jobseeker Support) and entering study, you need to inform Work and Income about this change in your circumstances.
     

Paying your Fees

Once you have accepted your offer of place, you will be invoiced for your course fees. Details of how to pay are sent with your invoice – please make arrangements to pay your fees before the start of your course. Please note that cash is not accepted at any of the WelTec campuses.

Help with Studylink

If you need assistance with Studylink, want to know about your entitlements, or just need general financial guidance or support, WelTec can help. Get in touch with WelTec's Student Financial Advisor.

Contact Student Financial Advisor at:
Phone: 0800 141121
Email: learningcommons@weltec.ac.nz
 

TOP MONEY SAVING TIPS

Work part time
Register with Student Job Search www.sjs.co.nz if you’re looking for part-time work to help finance your studies.

Make a budget
Being a student can be financially tough, so it’s important that you make a budget and stick to it. Talk to our Financial Advisor if you would like some help with your budgeting. Visit the Sorted website www.sorted.org.nz  for budgeting information and clever tools.

Save on healthcare
Most NZ students qualify for a Community Services Card, which can help with the costs of healthcare and prescriptions. Download the application form from www.workandincome.govt.nz

Save on travel
Get a Snapper Card to save at least 20% on bus fares, and price up monthly passes for the bus or train.

Extra help for families
Students who have children may be eligible for Working for Families Tax Credits. For more information, visit www.ird.govt.nz

Student banking
Most New Zealand banks offer tertiary accounts which have many benefits for students including interest free overdrafts, zero transaction or account management fees, and affordable insurance.
 

BUDGET ADVICE

WelTec's Student Financial Advisor is a qualified NZFFBS Budget Advisor. They can give you the low down on how to make those pennies go further. The Advisor is available across all campuses to give you tailored budget advice and financial guidance. You'll need to bring a current bank statement along to your budget advice appointment.


LOCAL FOODBANKS

There are a number of local foodbanks that you may be able to access, depending on your situation. Most food banks will expect you to seek assistance from StudyLink/Work & Income first.

List of Food Banks (PDF) 


WELTEC STUDENT SUPPORT FUND

Current students who are experiencing financial hardship or economic problems likely to adversely affect their studies may apply for financial assistance from WelTec's Student Support Fund. Your application to the fund is confidential, and the information you provide is protected by the Privacy Act 1993.

Further information about the Student Support Fund and the application form can be found here.

If you would like to apply, fill out the application form and hand it in at your WelTec Student Information Centre, or contact the Student Financial Advisor if you would like further information or assistance.

Contact Student Financial Advisor at:
Phone: 0800 141121
Email: learningcommons@weltec.ac.nz.