The cost of studying in New Zealand is also relatively high, many families are not able to pay, so some people want to apply for study loan, then apply for study in New Zealand loan need what conditions?
Might as well follow here Xiaobian to understand it!
What it takes for application to New Zealand study loan, apply for a special conditions for international students can apply for a loan, is there will be a special channel, but application is not absolutely unconditional offer and will give priority to the students who good grades but family conditions are tough, it will set a rigid standard.
You should submit a copy of the materials you submit to the school to the application department. You also need to show the proof of your family income, which will be double-checked and verified by the working enterprise and the bank. There is a strict internal audit link.
Ii. The average amount of loan for undergraduate students can apply for 300,000 yuan, which is also the average amount that can be obtained after the application, which can be lowered or increased according to the actual situation of the family. International students have relatively high autonomy.
There are also language training students and higher learning students, according to the survey, the minimum can apply for 5,000 yuan, can apply for 600,000 yuan.
We do not blindly greedy, too many applications for the subsequent return will be more pressure.
The minimum term of the loan is three years, is six years, that is, you can submit the loan application for six consecutive years, the longer you apply for the loan, the more documents you need to show, because the risk of the bank will be higher.
The subsequent repayment behavior, only after the end of the study can start, you can choose to pay monthly, quarterly or annual repayment, which involves the interest of the loan, etc., can be changed, need to consult.
For most families studying abroad, the pressure of taking out a large sum of money at one time is still relatively large. Even if the money is taken out, the family may need to be financially for a period of time, and the family’s ability to resist risks will be reduced, which is not conducive to normal life.
In addition, when you apply for a visa, you need to show the security deposit. If you submit the loan security deposit, you will be more able to convince the audit officer, I believe that you have a relatively good economic strength, and the audit will take less time.
According to the Education Counselor of the Embassy of New Zealand in China, this is a new project that the Immigration Department of New Zealand has cooperated with the Bank of China after the cooperation with Citic Industrial Bank in the study abroad loan program.
The minimum loan amount of the Bank of China is 200,000 yuan, and the minimum term of the loan is one year.
It is understood that in the past, New Zealand attached great importance to the history of deposits in the process of studying abroad visa processing, and many students were rejected because it was difficult to prove their financial history.
To solve the problem, the New Zealand government made new rules this year that any applicant from the Chinese mainland can use a study-abroad loan to prove they can afford to study in New Zealand, specifying that the loan can only be made with Citic Industrial Bank.
The minimum loan amount of CITIC Industrial Bank overseas study loan is 300,000 RMB, the loan term is 3 to 6 years, the loan is secured by bank deposit, the applicant can comply with the requirements of the bank, monthly, quarterly or annual repayment, only when the student completes the study in advance or terminates the study, the early repayment is allowed.
The latest Bank of China offers a minimum loan of RMB200,000, with a term of one to six years, secured by bank deposits, assets that can be sold, and third-party guarantees.
The purpose of the loan is to provide more ways for Chinese students to help them.
Any applicant from mainland China can prove his or her financial ability through the study abroad loan. Immigration New Zealand has offices in Beijing, Shanghai and Hong Kong, all of which accept loans.
He also said that for students, when students use bank loans, they don’t need to prepare other materials, they just need to contact the bank, which saves a lot of time for students and their parents to prepare the materials.
It is understood that the tuition fee and living expenses of studying in New Zealand for a year are about 100,000 RMB. For students who directly study degree courses or other higher education, they can apply for a loan of 300,000 RMB.
For other applicants, such as those who need to study a language, take preparatory courses and earn a diploma, the loan amount is between Rmb500,000 and Rmb600,000.
The visa will be issued by the New Zealand Embassy according to the student’s study plan and the loan amount applied for.
It is reported that in the first half of this year, the New Zealand government also announced two new policies, both related to international students studying for doctoral degrees in New Zealand, and Chinese students studying for doctoral degrees in New Zealand can also benefit from them.
2. Loan Process Operation Process 1: Applicants studying in New Zealand (or their parents) apply for a loan directly to Citic Industrial Bank or Bank of China.
Applicants can get a special application form at CITIC Industrial Bank or Bank of China.
Operation PROCEDURE 2: CITIC Industrial Bank or Bank of China reviews the loan and evaluates the loan collateral according to the bank’s loan policy.
Operation Procedure 3: If the loan application is approved, CITIC Industrial Bank or Bank of China will issue a letter of loan for studying abroad to the applicant or his/her parents.
Operation Procedure 4: The applicant shall submit the visa application materials and the letter of loan for study abroad to the Immigration Department of New Zealand.
Operation Procedure 5: Immigration New Zealand will process the visa application, including the verification of the study abroad loan notice.
If all requirements are met, Immigration New Zealand notifies the applicant in writing that his visa has been approved in principle.
Operation process 6: Applicants who study in New Zealand should go to the bank with the letter of approval for visa application to start the loan.
The bank will issue a student loan certificate to show that the loan has been started.
Note: If the visa is withdrawn or refused, Immigration New Zealand will inform the applicant of the result of the application in writing.
The applicant should inform the bank with this notice within 3 days that they no longer need the loan.
Procedure 7: The applicant will submit the Certificate of Student Loan and other documents listed in the Letter of Approval in principle to Immigration New Zealand to complete the final procedures.
DD applicants need to show the visa approval letter issued by Immigration New Zealand, the original passport and student visa to the Bank of China to obtain the loan.
Procedure 9: If the applicant has completed his/her studies in New Zealand before the end of the loan period, they may contact Immigration New Zealand to issue a letter confirming that they have completed their studies.
After the letter is issued by Immigration New Zealand, applicants can use it to request CITIC Industrial Bank or Bank of China to release their funds.
Deposit history is one of the factors that must be taken into account in the process of student visa processing.
Sometimes it is difficult for students to prove their financial history.
It can also take a long time for immigration authorities to process money history.
New Zealand study abroad experts point out that New Zealand study abroad loans make it easier for applicants to prove their economic strength, and also greatly shorten the immigration processing time, improve the efficiency of application.
If the applicant uses the New Zealand Student Loan as proof of funding for study abroad, there is no need to provide other bank documents when applying for the visa.
However, the Immigration Authority has the right to request any necessary documents from the applicant. For example, the office of Immigration New Zealand may also ask for proof of parents’ occupation and income.
In addition, obtaining a New Zealand Student Loan does not automatically mean that a visa application will be approved.
In terms of the amount of loan that can be applied in advance under special circumstances, students who directly study degree courses or other higher education courses can apply for a loan of RMB 300,000;
Other applicants, who want to study English, plus preparatory courses and diploma or degree courses, can apply for a loan of RMB500,000-600,000.
Most applicants need a loan of at least RMB500,000-600,000.
Immigration New Zealand still welcomes students to use their own funds as proof of means if they plan to study in New Zealand for a fee of up to RMB300,000, especially if they plan to study only on a short course or stay in New Zealand for up to three years. The minimum loan term is three years.
Parents and applicants can choose the loan term, which is three to six years.
In terms of repayment requirements, the applicant may make monthly, quarterly or annual payments.
Prepayment is only allowed if students complete their studies early or terminate their studies.
Applicants must apply for a supporting letter from the Immigration New Zealand office that issued their visa.
They can then use the letter to go to the bank for prepayment.
Early repayment will only be allowed if Immigration New Zealand has confirmed that the applicant has terminated his/her studies.
