Calculators > Students > Student qualification value calculator

Student qualification value calculator

This calculator helps you put a dollar value on your qualification over time.

Be aware no one can tell you exactly what your income will be in the future, so regard this calculator as a guide only. Like any other major decision in life, money is just one important factor.

 

Student qualification value calculator

 
Length of study (years)
Course fees (tuition fees for one year of study only)
$
Course costs (Course costs for one year of study only)
$

Sudent Loan details

How much will you borrow?

Year

Course fees
borrowed

Course costs
borrowed

Living costs
borrowed

First

$
$
$

Second

$
$
$

Third

$
$
$

Fourth

$
$
$

Fifth

$
$
$

Sixth

$
$
$

Seventh

$
$
$

Estimated annual income from:

Part time work while studying
$
All other sources (Eg student allowance, parents etc)
$

Future earnings

 

If you study

Estimated annual starting income
$
Estimated annual income 20 years after this
$
 

If you don't study

Estimated income now
$
Estimated annual income 20 years after this
$
Go to page:
1
2
Prior to changing your personal finances as a result of this calculation we recommend you view our disclaimer.
Notes on this calculator
  1. Results are in today's dollars - this means that any amount you pay or receive in the future will have the same buying power as this many dollars today.

    Learn more about Today's Dollars.
  2. These calculators are designed to give you ballpark figures only - in other words, they won't be exact to the absolute dollars and cents.
  3. You don't need to use dollar signs or commas when inserting dollar amounts. Example: 10500 not $10,500.
  4. Fees for domestic students at nz tertiary institutions for 2007
    Compulsory fees – you can borrow the entire amount of your course fees (including Student Association fees) for study at a university or tech. There's a limit of $6,500 a year for private training establishments.

    Area of study Years to
    complete    		 Cost per
    year*
    University Degrees
    Architecture (Auckland University) 5 years $4,051-$5324
    Arts (Canterbury University) 3 years $3,934
    Business Studies (undergraduate - Massey University) 3 years $3,787
    Commerce (Auckland University) 3 years $4,416
    Dentistry (Otago University) 5 years $10.780
    Design (Massey University) 4 years $4,300
    Fine Arts (Auckland University) 4 years $4,732
    Engineering (Auckland University) 4 years $5,324
    Law (Canterbury University) 4 years $4,164
    Medicine (Otago University) 6 years $10,780
    Music (Auckland University 4 years $4,360
    Nursing (post graduate - Victoria University)
    		1 years $5,388
    Optometry (Auckland University) 4 years $7,279
    Physiotherapy (Otago University) 4 years $4,849-$6,061
    Pharmacy (Auckland University) 4 years $4,388-$4,810
    Teaching (Primary & Secondary - Auckland University) 3 years $3,974
    Veterinary Science (Massey University) 5 years $7,821
         
    Other Training Organisations
    Bachelor in Hospitality Management (Weltech) 3 years $4,302
    National Certificate in Exercise Science (Weltech) 1 year $4,399
    Certificate in Business Administration (Weltech)
    		19 weeks $2,142
    National Certificate in Hairdressing (Weltech) 1 year $5,200
    National Diploma in Mechanical Engineering (Weltech) 2 years $4,485
    Diploma in Early Childhood Education (NZ College of Early Childhood Education) 3 years $4,090
    Diploma of Therapeutic Massage (Wellpark College of Natural Therapies) 18 Months $4,250
    Diploma in Fashion Design (Design & Arts College of NZ) 2 Years $5,385
    Diploma in Contemporary Photography (Design & Arts College of NZ) 2 years $5,380


    * Figures are indicative only and vary between different training organisations, and are reviewed on a yearly basis. Always check the course is one approved by the Ministry of Education for student loan purposes before you enrol.
    [back]
  5. Course costs per year
    What you'll have to pay to take part in the course e.g. textbooks, stationery, photocopying. Ask your tertiary institution for an estimate of your course-related costs.
    [back]
  6. Course-related costs
    You can borrow up to $1,000 a year for things like stationery, textbooks, childcare, travel or computer equipment.
    [back]
  7. Living costs
    You can borrow up to $150 a week for living expenses for the weeks you are studying (e.g 37 weeks is the average academic year). This is direct credited to your account each week.
    [back]
  8. Your income from part-time or holiday work
    An example
    $4,440 from part-time work per year + $2,000 holiday job = $6,440 (before tax).

    Depending on how demanding your course is, you could be working 10 hours a week for $12 per hour x 37 weeks = $4,440

    Over the summer break, you could work 40 hours per week @ $12 per hour x 12 weeks = $5,760. You could save $2,400.
    [back]
  9. Your future earnings – loan
    1. Annual starting income
    Source: Median personal income by qualification - 20-24 years 2006 Census, Statistics New Zealand.

    Doctorate degree $27,501
    Masters degree $24,091
    Post graduate and Honours degree $27,468
    Bachelor degree and Level 7 qualifications $26,649
    Level 6 diploma $25,659

    2.Get more salary information at the Career Services website
    [back]
  10. Your future earnings in 20 years
    Average income
    Source: Median personal income by qualification - 40-44 years 2006 Census, Statistics New Zealand.
    Doctorate degree$78,422
    Masters degree$60,366
    Post-graduate and honours degree$57,922
    Bachelor degree and level 7 qualifications$51,342
    Level 6 diploma$43,189


    For more salary information check out the Career Services website.
    [back]
  11. Your future earnings without study
    Average income
    Source: Median personal income by qualification - 2006 census, Statistics New Zealand
    Highest Qualification 15-19 years 20-24 years 25-29 years 30-34 years 35-39 years 40-44 years 45-49 years
    School qualification $5,109 $22,657 $32,510 $35,395 $35,559 $35,260 $35,672
    No qualification $4,846 $24,291 $27,946 $29,385 $30,258 $30,305 $30,464


    [back]