From 1 January 2013, people aged 55 years and over will no longer be eligible for living costs or course-related costs. They will only be eligible for the compulsory fees component of the Student Loan.
Students who are over 55 as at the announcement date (19 May 2011), or who will reach 55 before 1 January 2013, will continue to be eligible for all components of the Student Loan for the qualification they were enrolled in on the date of the announcement (19 May 2011), until they complete this qualification or until 1 January 2015, whichever is earlier.
There is no change to Student Allowance eligibility or criteria for these students. Those aged 55 years and over will continue to be eligible for a Student Allowance provided they meet all other criteria.
Students are not eligible for a Student Allowance or Student Loan living costs if they are receiving support through New Zealand Superannuation or Veterans Pension.