Funds and Financial requirements for New Zealand Study Visa

Last Updated on April 25, 2019 by West Highlander

New Zealand, a developed country, offers highly qualitative education in a friendly environment that is welcoming towards international students. As per New Zealand Immigration Policy, the international students should show adequate funds to study in New Zealand. This is to make sure that student has sound financial resources to undertake study overseas. The senior secondary students can apply for two year or three year diploma or degree courses while graduate international students can opt for Level 7, 8 study programs. Let us understand in detail about the financial requirements that are to be fulfilled by the international students.

The international students should have initial year funds readily available that includes tuition fee which entirely depends upon the course undertaken and the institution chosen, living expense that is equivalent to $15,000 and travel expense to fly back to the home country. An important point to note is that the funds should be at least 6 months old for the first year of study.
The students who have opted for 2 or 3 years course have to show funds for all the years of their prospective study in New Zealand. It often turns out to be a hectic deal to show funds for 2-3 years as for 2 years, the funds may sum up to 30 lakhs approx. which is a hefty amount and for 3 years, the amount will be even bigger. To reduce your struggle, there are some ways that can be utilised. You can opt for a Payment Plan instead of showing liquid funds. Payment Plan is a plan that demonstrates the way you will make payments for the subsequent years of study. For this, you can show your saving patterns of last three years, General Provident Fund (GPF) accumulated, total annual income of your family, FDR which is due to mature in the coming year, etc. These are the options you can utilise to fulfil the subsequent years’ financial requirement condition.
These are the funds and financial requirements for New Zealand Study Visa, if you want to know more about study in New Zealand, you can seek advice from West Highlander. Ms. Parwinder Kaur, Director of the company is an IAA registered immigration adviser and holds more than a decade of experience in study abroad facilitation. Contact No. – 9915999677, 9915999766.