Is it possible to show the total required funds for New Zealand education partly from an education loan and partly from bank account savings for a Master's?
Yes, you can show the required funds for New Zealand education using a combination of an education loan and personal bank savings.
Immigration New Zealand accepts:
- Personal savings: Recent bank statements showing sufficient funds.
- Education loan: A sanctioned loan from a recognized bank, with a detailed sanction letter (including collateral, moratorium, interest rate, and repayment schedule).
For a one-year master's, you typically need to show:
- Tuition fees: Varies by program.
- Living costs: NZD 20,000/year.
- Outward travel: NZD 2,000.
Funds must be genuinely available and accessible. Immigration New Zealand may ask how you plan to repay the loan.
If you need help preparing your documents, connect with your LeapScholar counsellor.
Will you qualify for a NZ education loan?
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