Alternate finance offers loans for students who need a little extra to tide them over. Most students aren’t rolling in cash, even if you live at home. The majority only manage to work part-time due to the workload of their studies and scrape in just enough to cover their bills. A loan from the government student loan company doesn’t offer much student allowance and, with living costs on the rise, you can see your student loan balance dwindling before your eyes.
It can be a tough gig to save money as there’s never a lot leftover and unexpected expenses crop up and catch you by surprise. Luckily, Alternate Finance has a “loans for students” package where we fast-track you out of a tricky situation with a personal loan.
Criteria for our Loans for Students
If you’re a student applying to get a loan with us, then we have a few criteria questions to check if you’re eligible.
- Do you have a car?
- Is it insured?
- Are you a NZ citizen?
If you answered YES to all of the above questions, then we have fab news; we may be able to help you with a loan! We offer competitive loans for students, with loan repayment terms that work with you. Apply for a student loan with Alternate today!
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Why Students Might Need Loans
We know that the New Zealand government already offers interest-free student loans so that New Zealanders can get an education. There are even scholarships and other assistance that you may receive as well. So, why would you need a loan from us? The government’s student loan only offers money under specific circumstances. They provide funds for your course tuition, a limited amount for your course-related costs, and a low weekly amount for living expenses – and that’s it. In emergencies, like if your car breaks down and you can’t get to class, your student loan won’t cover it no matter what your financial situation is.
Another reason that students often get loans with us is for the bond when moving into a new flat. It can be hard to scrape together enough cash for rent each week, not to mention paying the bond for moving into a new place at the start of the school year.
How To Apply For A Loan
First of all, start by using our loan calculator to determine the length of your loan. This allows you to adjust the amount you borrow and how much your payments would be each week to find out how long it would take you to pay off the loan. Once you’re happy with it, you can apply for your loan.
We have made our loans for students application process is easy and can be done online in less than eight minutes. We just need some basic information from you, and then our team of experts will analyse your information to decide whether they think that you can realistically pay off a loan. They will get back to you with an answer within 24 hours of your application. If you get approved, the money will be in your bank account quickly, as we know that speed is essential when you have unforeseen expenses. Of course, this is all subject to passing our credit checks, lending criteria and acting in accordance with the New Zealand responsible lenders assosciation.
Online Personal loan calculator
Choose your term
Repayment Details
1 YEAR
Your Weekly Repayment
$22.60 PER WEEK* This is an approximate loan duration and amount based on assumed adequate security & collateral, job security, income, residence situation and positive references. This is subject to the New Zealand responsible lending code. Terms and conditions apply.
Rates
If you apply for a personal loan from Alternate Finance as a student, you can make repayments for up to 36 months until you have paid off the loan, unless otherwise agreed. Annual interest rates vary according to a number of factors and are from 9.95% – 26.98% per annum.
If you want more information, including the default interest rate on our loans, head to our page containing the full details of our rates and fees here.
Terms
If you want a loan from Alternate Finance while you’re still a student, you must first thoroughly understand our terms. It’s important to us that we lend responsibly, so we only want you to commit if you understand the conditions. When you apply for a loan with us, you grant us permission to store any information you provide us with. Please note that we try to keep all the information on our website up to date and correct. If you spot a mistake, please notify us in writing, and we will fix it as soon as possible. To read our full list of terms and conditions, click here.
Security
All of our data, including your personal details, is protected through our webform encryption process for your privacy. The information you give us will remain confidential, and you can be sure that we keep any data contained in your application completely secure.
Did You Know?
Student Loans NZ
As a student, you may still be able to get one of our "loans for students" to supplement your loan from the gov student loan company. We are responsible lenders who will only loan to you what we think you can realistically afford to pay off with a reasonable repayment schedule.
Student Loan Repayment Calculator
Want to know how long it would take you to pay off your loan? Use our loan calculator to figure out how much you can borrow, how much you will repay, and how long it will take you to pay it off.
Can Students Get Loans?
If you’re a student who owns a car with insurance and you’re a New Zealand citizen or permanent resident, then you may be able to get a loan from Alternate Finance. Contact us to see if you can get a student loan today.
Student Loan Interest Rates
We offer highly competitive interest rates compared to other companies in New Zealand. Eligible students can apply online today and you can find the full details of our rates and fees on our website, here Note, we are not the government student loan company and so do not offer interest free loans.
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