This scheme allows American citizens and eligible non-citizens to access some US Federal student loans while studying the Bachelor of Chiropractic at the College.
The US Department of Education provides a number of services to support US students to receive financial aid at International schools.
The following types of US student loans are available for eligible students while studying at the New Zealand College of Chiropractic
Direct Stafford Loans
The Federal Stafford Loan is divided into two parts – subsidised and unsubsidised – and is capped annually and aggregately.
Direct Stafford Unsubsidised
This loan is available to all eligible students as it is not based on need. Interest costs are incurred from the time the funds are disbursed, which may be paid as it falls due, or allowed to accumulate and be added to your principal balance for repayment.
Interest Rates which applied before 1 July 2017: https://studentaid.ed.gov/sa/types/loans/interest-rates#older-rates
(loans first disbursed on or after 1 July 2017 and before 1 July 2018): For more information on the applicable interest rate for your loan please check the following link from Federal Student Aid: https://studentaid.ed.gov/sa/types/loans/interest-rates
Further information on Direct Stafford Loans is available via these links to external websites:
- Direct Stafford Loans General Information
- Maximum Time Limit of Direct Subsidised Loans
- Direct Stafford Loans Interest Rates
- Direct Stafford Loans Annual and Aggregate Loan Maxima
- Dependency Status
- Repayment Plans
Federal Plus Loans
This loan is available to students studying in a qualifying programme at postgraduate or professional level (provided students meet the eligibility criteria for postgraduate study). Applicants are subject to a credit check. Repayments can be deferred whilst in school, but start immediately once students leave university or drop below half-time study.
Loans first disbursed on or after 1 July 2016 and before 1 July 2017: 6.31%
Further information on PLUS loans is available on these external websites:
|Year of Study||Subsidised Loan USD||Unsubsidised Loan USD||Total Loan Limit for the Year (USD)|
|First Year and beyond||$0.00||$20,500||$20,500|
Students are eligible to borrow loans up to their cost of attendance less any alternative education income such as grants, or study-related employment.
How much students need to borrow over the course of their degree will vary according to: access to private funds, employment opportunities, lifestyle choices, practicum selection, prevailing exchange rates, planned travel, and whether they obtain NZ Permanent Residence. Find out more about the cost of study and course related costs by contacting the Financial Aid Administrator.
The cost of attendance is the expected cost that the average student will incur to complete their Bachelor of Chiropractic at The New Zealand College of Chiropractic. Each component of the cost of attendance calculation is reviewed annually, once the College’s fees have been set. Cost of attendance elements can include some or all of the following:
Programme tuition fees
The tuition fee component is dependent on the International student fees set for the year you study. For information on the International Student tuition fees please refer to the the New Zealand College of Chiropractic Course Fees. Tuition fees are subject to change and are reviewed each year. Tuition fees are charged at domestic rates for students with NZ Citizenship or Permanent Residence.
Course related costs
The compulsory non-tuition fees differ according to the year you are enrolled in for each year. Fees are factored into your cost of attendance. You can view the course related costs for each year on our website.
Fee paying foreign students must hold acceptable insurance as a condition of their visa from the period of their enrolment until the expiry of their student visa. New Zealand government under the Pastoral Care of International Students require all international students to have insurance before they leave their home country and to maintain insurance throughout their studies until they return to their home country.
Books and supplies allowance
An allowance of NZD$1,000 is included in the cost of attendance for books and supplies.
The living costs allowance includes the cost of rent, utilities, food, and personal expenses.
Each student is awarded an amount equivalent to a return flight to New Zealand (NZD$2,500 allowance) for each year of study; this is not provided to students with NZ Citizenship or Permanent Residence.
Allowances for purchase of a motor vehicle are not permitted.
An allowance is made to cover the cost of loan fees.
The following criteria must be met to be eligible for a US Financial Aid:
- You must be an eligible student
- You must be enrolled for more than half time in the Bachelor of Chiropractic at the College
- You may not be enrolled in an online programme or course
- You must maintain satisfactory academic progress
- You must complete and meet all the application criteria
While you may be an eligible student, the amount of loans you can borrow is dependent on the type of loan and its annual and aggregate limit, your expected family contribution, your cost of attendance and any other aid you may be receiving.
To be eligible for a US federal or education loan you must meet the following requirements:
- Be a US Citizen or eligible non-citizen
- Have a valid social security number
- Not be in default on any federal loan repayments
- Males aged 18-25 must comply with selective service registration
- Not have a drug conviction that renders you ineligible to receive loans
- Maintain Satisfactory Academic Progress
- Be enrolled at least half-time in an eligible programme, and study on campus
- Not being enrolled in any distance (online) courses
You must be enrolled at least half time, i.e. 30 credits per semester/60 credits per academic year, in an eligible programme.
The Bachelor of Chiropractic is a professional degree and is recognised as a Graduate/Professional programme
Satisfactory Academic Progress
New Zealand College of Chiropractic students must maintain satisfactory academic progress to remain eligible for a loan. You can find out more in the Student Handbook.
Students must complete all steps in the application process within a reasonable timeframe to receive financial aid, and must comply with all requirements relating to communication and confirmation of disbursements.
There are five steps to apply for financial aid at New Zealand College of Chiropractic once you have been offered a place at the College.
1. Complete a Free Application for Federal Student Aid (FAFSA)
This is based on your prior year tax information. It outlines your eligibility for aid and provides the Department of Education with the financial information to calculate your Expected Family Contribution (EFC). Complete the form at the FAFSA website, listing New Zealand College of Chiropractic (G40854) as your school, and indicating the correct level you will be studying (Graduate/Professional Level).
2. Complete entrance counselling
This step provides you with all the relevant information about borrowing and repaying loans, and ensures your understand the undertakings. Students need to complete Stafford and Graduate PLUS entrance counselling the first time they intend borrowing either one of these loans from New Zealand College of Chiropractic
3. Complete a Stafford Master Promissory Note (MPN)
This outlines the terms and conditions of your loan and is your promise to repay the loan funds. Please read the conditions carefully and decide whether you wish to pay interest whilst you are in school.
4. Complete the New Zealand College of Chiropractic Direct Loan Application Form
This lets us know to look out for the rest of your application materials and provides us with more information about your loan eligibility in the Foreign School context. You will also need to advise us of any grant, aid, or scholarship that you are in the receipt of when you submit your application for aid.New Zealand College of Chiropractic Direct Loan Application Form
5. Provide bank account details
We need your New Zealand bank account details so we can transfer funds borrowed for living costs directly into your bank account. Please send us a pre-printed bank deposit slip or other bank printout so we have your up-to-date details on file as soon as possible.
Apply for a Plus Loan or Private Education Loan
PLUS loans are only available to eligible students in qualifying programmes and require a credit check. Your eligibility will be advised via your Award Letter. Students who are ineligible for a PLUS Loan may consider a Private Education Loan, which will also require a credit check.
Only request a credit check within 90 days of the first disbursement date or your credit will expire before your loan can disburse. If you do not pass a credit check, you can have your loan co-signed or endorsed by a third party based in the US. We recommend that you take all steps to ensure your credit record is rehabilitated.