How much borrowing are you up for?
Below is an example of how much you could borrow under the student loan scheme to study nursing. It shows that even if you borrow the maximum, it may not be enough to cover your expenses. You would need to find an extra $211 per week, perhaps from a part-time job.
| How much money you'd need to become a nurse | |
| 3 year course at Auckland Uni @ $4,416 a year x 3 years | $13,248 |
| Text-books, course costs @ approx $500 a year x 3 years | $1,500 |
| Living expenses if away from home @ approx $325 a week x 52 weeks in the year = $16,900 x 3 year course |
$50,700 |
| Total cost of study | $65,448 |
| Study costs | |
| You could borrow all of your tuition fees and course costs $13,248 + $1,500 |
$14,748 |
| Living costs | |
| You could borrow $160 per week for living expenses x 37 weeks of the academic year (March to December) = $5,920 x 3 year course |
$17,760 |
| Total available through a student loan | $32,508 |
| The difference | |
| For your entire nursing degree you'd need an extra That is $10,980 per year Or $211 per week. |
$32,940 |
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