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How to fund your studies in New Zealand 

Various ways to help you live your dream of studying abroad 


Studying in New Zealand is one of the best decisions you’ll make. The country offers unmatched quality education and can be affordable if you plan your finances wisely. I say so because I’ve seen many students and their parents struggle to arrange the financials. What is important to understand is that it is never a hurdle if you understand the actual requirements of funds and arrange in time, and in accordance with the guidelines by Immigration New Zealand. 

As per Immigration New Zealand, students should have sufficient funds to support their tuition fees and living expenses for the entire duration of study. It is a student’s responsibility to make the Immigration body confident that the finances submitted are genuine and readily available to the student during their stay in New Zealand. 

Acceptable Sponsors: Self (student) and your immediate family members which include parents, siblings (no cousins), grandparents (both paternal and maternal), and if you’re married, then spouse and spourse’s parents. You are required to prove your relationship with the sponsor by providing documents like passport, Aadhar Card and Pan Card.


Here is the list of accepted finances for your student visa to study in New Zealand.

Source 1

Funds available in savings account which are stable for more than six months

If in case of any recent deposits in the last six months, a proper justification with source is required. For example, funds credited through salary from an employer can be justified with pay slips and employment proof; but for funds borrowed from relatives in the last six months which were credited to your account will not be accepted. Similarly, funds credited through property sales, agricultural income, and gold loans are also not accepted. The student can submit statements of multiple accounts of their accepted sponsors, if required.  

Source 2

Education loans obtained from nationalised or multinational banks approved by RBI 

Some banks do approve Unsecured Education Loans up to a certain limit but above that they require collateral security/fixed assets that belong to you or your sponsors. You are required to provide with a loan sanction letter mentioning the limit sanctioned, collateral security, margin, rate of interest, repayment schedule and copy of the collateral security used for the loan. 

Source 3

Employee Provident Fund (EPF) or General Provident Fund (GPF) 

If the sponsor is employed in a government or private organisation, they can use their EPF or GPF, whichever is applicable to finance their studies. They would require a letter from the employer stating their total available balance and the withdrawal limit. 

Source 4

Public Provident Fund 

You can also use your Public Provident Fund if you have sufficient withdrawal limit to show for evidence of funds.

Source 5

Personal loans for the salaried 

Salaried sponsors can avail personal loans based on their employment. As the repayment schedule starts immediately, we recommend to take advice from experts before availing this option. 

Source 6

Loan against LIC’s which are six months old 

If the duration of your course is more than two years, then you can opt for a payment plan for rest of the years by demonstrating how you will repay for the subsequent years of study. You can show the total annual income of your family through Income Tax Returns (recommended that the total annual income should be more than INR 10 lakhs p.a.), fixed deposits which are due to mature in next two years, or a CA Report. All these options you can be utilised to fulfil the subsequent years of financial requirement.

Immigration New Zealand allows you as a student to opt to pay your tuition fees after your visa application has been approved in principle (AIP), which is also called as conditional visa. Once you get this visa, you can then transfer the tuition fees and living expenses* (if FTS is a condition) through the same funds declared at the time of visa application.


If you feel the need to discuss and understand these financial requirements and the best way to go about it, feel free to reach out to IDP anytime. We’d be more than happy to guide you!

Updated on October 5, 2020

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Sanjeeva Raju

Sanjeeva Raju is our Destination Manager for New Zealand at IDP, New Delhi, Nehru Place branch. 

He holds an impressive experience of over 8 years in the field of International education and has been guiding students to help achieve their dreams of studying abroad with his expertise in the field. 

A chemistry graduate who developed the passion for international education and career guidance to aspiring students, Raju feels proud when he sees these students excel in their lives. 

Having travelled to New Zealand to interact with various universities, he has just the right knowledge and skill set to guide students wanting to study in the country. He has also delivered several seminars to keep the students well informed about the destination and their career path. 



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