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Youngest and Oldest Students Borrow Most

Integrated Data on Student Loan Borrowers: 1997–2004

11 April 2006

Youngest and Oldest Students Borrow Most

Statistics from the Integrated Dataset on Student Loan Borrowers show that borrowers under 25 years, and those aged 60 years and over, had the highest median amount transferred for 2004 from StudyLink to Inland Revenue, Statistics New Zealand said today.

In 2004, the median amount transferred by those under 20 years was $6,150; for those aged 20–24 it was $6,120; and for those 60 years and older it was $6,070. The median amount transferred for all students that borrowed through the loan scheme in 2004 was $5,300. Students under 25 years comprised the majority (59 percent) of students who borrowed through the scheme in 2004, while only 1 percent of borrowers were in the 60 years and over age range.

Approximately one-sixth of all borrowers between 1997 and 2004 had paid back their loans in full by March 2005. The highest rates of full repayment were for people who had studied at honours level or higher in their last year of borrowing (21–25 percent); those at a college of education (21 percent); those enrolled in engineering and related technologies courses, or agriculture, environmental and related studies courses in their last year of borrowing (19–20 percent); and students in the 25–59 year age groups (20–25 percent).

Students who took out a loan between 1997 and 2003, and advised Inland Revenue they were overseas in 2004, on average owed $11,790 more (an average loan balance of $22,640) than those assumed to be residing in New Zealand (an average of $10,850).

For loan holders who had been enrolled in health courses during their final year of borrowing, those overseas owed on average $16,590 more than borrowers assumed to be residing in New Zealand. Those overseas had a mean loan balance of $28,350 at March 2005, compared with $11,760 for borrowers assumed to be residing in New Zealand.

Brian Pink

Government Statistician


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