Financial planning: Cost of studying

Financial planning: Cost of studying

You may be wondering, “How much does it cost to study in New Zealand?”

Typical fees per academic year for international students in higher education include tuition fees, student levy and insurance fees. For undergraduates, this cost is dependent on the number of courses you’ll be taking for that year. And it’s one of the many reasons people drop courses because kole werk!!!

Tuition fees deposit for international student

The lowest tuition fees I have seen so far for international students is $25,000 (undergraduate), $31,000 (Masters), $6,500 (PhD), $25,000 (other postgrad prog). You have to show that you can pay these fees and survive (better put, support yourself) during the study period.

At this point, you probably may be wondering where the money to fund your studies will come from. Do not fret. If I could do it, you too can 😉.

Scholarships

Several scholarships are offered by each University to support students. As a prospective student, you may be eligible for one or all of these scholarships. Scholarships are funded either centrally by the University or by individual faculties, or by donors. Scholarships can also be from government grants (home country, NZ or international). 

How to show proof of funds to support your visa application

Some of these scholarships come with a guaranteed place in a hall of residence (predominantly undergraduate scholarships). Application for scholarships closes earlier than scheduled application for admission. You can take loans from your home country (I don’t like loans, so I try my best to avoid them).

Regardless of the type of scholarship, you wish to apply for, APPLY EARLY!!!

Application for University Doctoral scholarship is highly competitive and often completed either at the time of application for admission (UoA, Victoria, Canterbury, Waikato) or after applying for admission (Otago). For the latter, you’ll be sent an invite to apply for the doctoral scholarship. In some cases, the application should be submitted only after receiving an offer of place for the doctoral programme (AUT, Massey, Victoria).

Reminder: Some of these universities have closing dates for scholarship applications. APPLY EARLY!!!

Work while you study

International students are eligible to work and have the same legal minimum rights and entitlement as everyone else working in New Zealand. Thus, working while you study is another means to fund your study and living expenses.

If I was told this during my undergraduate study, I would have laughed and shrugged it off. It just wasn’t considered a thing back home, except you or your family was struggling financially. Even so, parents believed it to be a distraction. And rightly so but with this right guidance and mentorship, the side-hustle could become a source of not just income but skill development and networking.

During my master’s study, I realized that working while studying is a great way to experience the country’s work culture, gain work experience, pay for your lifestyle, and meet new people. Remember to keep an open mind while at it.

PS: I still cldn’t get a job even as a cleaner, and believe me, I tried!! Smh, maybe I’m built for a baby girl life. Oh well, I later found a job as a packer, GTA and exams receptionist.

If you have a student visa, you may be able to work:

  • Up to 20 hours a week during term time
  • Full-time during scheduled holidays

For Masters by research and PhD student, you may work

  • Full-time during term time
  • Full-time during scheduled holidays

Link to more information on working on a student visa in New Zealand

To work, you will need an IRD number – an individual tax number provided by the Inland Revenue Department (IRD). This is required so that tax deducted is done at the correct rate otherwise, the highest possible rate will be used. NZ don’t joke with their tax so watch this easy-to-follow video to learn how to calculate your income tax.

For more eligibility information to work while studying, visit New Zealand Immigration website.

Next step: Apply for admission

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