Private loans
These loans are non-US federal loans, made by a lender such as a bank, credit union, state agency, or a school.
Private Loan Self-Certification Form is available online.
Step One – Submit your loan application to private loan provider
A Private loan is arranged between the student and the private loan provider. Eligibility will be determined by the provider. The maximum that can be borrowed on a private loan is the yearly Cost of Attendance less any estimated financial assistance (loans, awards, scholarship etc.). Private loans do not enable you to borrow more money than federal loans.
Step Two – Certify a private loan
Please contact the Financial Aid Coordinator once you have successfully completed an application for a private loan. The Financial Aid Coordinator will certify your enrolment and Cost of Attendance.Once your private loan is certified, your loan provider will provide you a letter of confirmation which can be used to support your Student Visa application.
Step Three – Disburse a private loan
Your private loan provider disburses your private loan by transferring funds in USD to the University on the provided disbursement date (usually one week before start of the semester).
The University receives its equivalent amount in NZD and it usually takes up to 3 working days to receive payment into the University’s bank account. The University credits the available amount to your tuition and fees account.
Step Four – Request a refund
- You must sign in to Student Services Online and apply for a refund.
- After tuition and fees are paid in full, the excess balance will be refunded to your designated bank account within 14 days of when the funds are received by the University.
Note: The University does not charge a US Financial Aid application fee. A NZ$60.00 refund processing fee is waived for US Financial Aid recipients. An administrative fee of NZ$1,000.00 does not apply when refunding US Financial Aid. It is the student’s responsibility to contact the private loan provider to track the status of a private loan application and disbursement.
Cost of attendance
The Cost of Attendance (COA) is an estimate of your educational expenses for your academic period (12-month maximum) at the University.
The University determines the appropriate and maximum amounts to include for each eligible COA category for financial aid students at the University. The amounts outlined below are considered to be adequate for normal student living expenses.
The COA is calculated in New Zealand dollars (NZD) and is converted to US dollars at the exchange rate that is available on the day the application is assessed.
| Expense | Amount (NZ$) | Notes |
|---|---|---|
| Living expenses | NZ$506/week | Living expenses include room, grocery, local transportation and miscellaneous personal expenses. This is the maximum amount and you may request less. |
| Tuition and fees |
Visit Fees and money matters |
Tuition fees are dependent on your programme of study. |
| Books, course materials, supplies and equipment |
NZ$1,000 | This is identical for all students regardless of programme of study. (Additionally, purchased or leased computer or tablet. Limit of one adjustment during your undergraduate and/or graduate education.) |
| Return flight to US (contribution) |
NZ$2,500 | Contribution to the cost of a return flight to the US is included in the COA each year. Australian and New Zealand Citizens/Permanent Residents are not eligible for this contribution. |
| Studentsafe-University insurance |
NZ$855 | Insurance is compulsory for all international students. It is not required for Australian and New Zealand Citizens/Permanent Residents |
The University has a duty of care to encourage responsible student borrowing and to ensure commencing students are aware that relocation costs are not included as part of the COA.
US financial aid students must ensure that they have at least 6-8 weeks of personal and accessible funds to account for any unforeseen circumstances and to cover all non-education related expenses throughout the period of their study.
Exchange rate policy
The University accepts no responsibility for any variation in currency exchange rates. This applies to variations between the points of a calculated Cost of Attendance and between the first, second, and if applicable, third disbursements.