Cost of Living
According to the New Zealand government, an international student spends an average of $1250 per month towards living expenses. But from the research, it is seen that Indian students spend around $600 to $800 per month as living expenses which include accommodation, food, entertainment, transportation, etc.
Education Costs in New Zealand
One of the advantages of studying in New Zealand is value for money. Living expenses and tuition costs are comparatively affordable. Tuition costs depend on the institution and the level of study you choose. The list below gives you an indication of the range of course costs for different types of qualifications:
- Diploma and Advanced Diploma – $12,000 to $18,000
- Bachelors Degree– $18,000 to $25,000
- Graduate Diploma – $16000 to $22000
- Masters Degree– $21,000 to $30,000
- Doctoral Degree– $8000
You should have sufficient funds to pay your tuition fees and living expenses of NZ $15,000 for each year of study.
Evidence of Funds
- Your family is considered as a natural sponsor for your student visa application. Apart from family, you are entitled to have two immediate blood relatives as sponsors.
- Source of Funds can include Savings balance, Deposits, Provident Funds, Postal Savings, Education Loan, etc.
- Properties, Share market investments, Gold, etc cannot be counted as source of funds.
- Funds Transfer Scheme (FTS): An FTS is a scheme where student has to make $15000 secure investment deposit with ANZ Bank in New Zealand. This scheme can be used by students who do not have maintained funds for 6 months. This is an optional scheme.
Students can withdraw $1250 plus interest every month for a 12 month period. You can use these funds to help pay for living expenses while you’re studying in New Zealand. You will have received your full investment of $15,000 at the end of 12 months.