Figuring out how much money is needed in order to get a New Zealand student visa is an important part of this process.
While studying in New Zealand is an exciting opportunity, there are plenty of important issues to take into consideration, one of which is budgeting.
To make sure smooth integration into your academic pursuit, let’s find into the details.
How much funds needed for New Zealand student visa?
You will need to provide proof that you have enough money to pay for your living expenses during your study term if you want to be granted a student visa to New Zealand.
These are the necessary funds.
1. Funds Transfer Scheme (FTS)
For applications submitted before July 31, 2022, a minimum of NZD 15,000 must be transferred for each year of study.
The annual requirement for students enrolled in compulsory education, which is open to children between the ages of 6 and 16, is NZD 17,000.
The minimum annual transfer amount for applications submitted after July 31, 2022, is NZD 20,000.
2. Initial Year Funds
For your first year, you should have easy access to money, including
- Tuition fees: The total amount is determined by the institution and course you have selected.
- Living expenses: Roughly to $15,000.
- Travel expenses for your return flight home.
3. Proof of Funds
Proof should include,
- Traveler’s checks and bank drafts
- A recognized credit card with enough credit available
- Make sure to review the particular requirements and terms of the student visa you are requesting.
Read: Is New Zealand Work Visa Easy?
What are the other requirements for a New Zealand student visa?
Apart from the previously mentioned financial requirements, the following are additional necessary requirements for securing a New Zealand student visa,
- An admission offer from a New Zealand-approved educational institution is required. Universities, polytechnics, and private training places fall under this category.
- You will have to present proof of your character and general well-being. A police certificate and a medical examination might be required for this.
- The majority of students must take an authorized English language test (like the PTE Academic, TOEFL, or IELTS) to prove their language proficiency. Depending on the course level, different scores are needed.
- Make sure your passport is still valid for the whole time you plan to visit New Zealand.
- For the length of your visit, you must have the necessary health and travel insurance.
- You have to agree to the visa requirements and have a sincere desire to study in New Zealand.
- You will require extra paperwork for dependents’ visa applications if you want to bring dependents (spouse, kids, etc.).
- Fill out the student visa application form (INZ 1012) as well as pay the applicable visa fee.
For the most recent and complete details, keep an eye on the official Immigration New Zealand website.
Are there any scholarships available?
International students can apply for scholarships from a number of New Zealand education providers.
The cost of living, tuition, and other related expenses can be partially covered by these scholarships while studying in New Zealand.
Visit the Study with New Zealand Scholarships portal to learn more and to start your scholarship search – CLICK HERE
Always remember to look into particular scholarship programs according to your area of study, educational background, and specific situation.
Bottom Line
Careful financial planning and documentation are required for you to get a New Zealand student visa.
In one of the most desired study locations in the world, those interested can easily apply for a visa and start their academic journey by understanding and completing the necessary financial requirements.
Studying overseas is an investment in your future, and you can make the most of the learning and development opportunities that await you in New Zealand by financially planning your trip to the fullest.
2 thoughts on “How Much Funds Needed for New Zealand Student Visa?”