New Zealand has quickly emerged as one of the most attractive destinations for Indian students to pursue education. Students prefer New Zealand as it maintains a good balance between application and theory. Before going through the admission process, the first step is to decide which institute you are targeting. The next step would be to determine what the financial implications are. That would clear queries concerning financial assistance needed and whether you need to take a personal loan or another, such as an education loan.
Top options in New Zealand
There are some excellent options available at the postgraduate level. In terms of government universities, New Zealand has eight public universities that offer most of the programmes. Each university has its strengths. The oldest of these is the University of Otago in Dunedin, while the newest is the Auckland University of Technology. Lincoln University has the least number of students, while the University of Auckland has the most. The good news for students is that all these eight universities rank under 500 in the prestigious QS World Rankings 2022. The university’s highest globally ranked is the University of Auckland at 85th position, while the lowest is the Auckland University of Technology at 451st position.
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Keep your stream in mind
When it comes to pursuing post-graduation in New Zealand, a lot depends on which stream you wish to choose. If you want to pursue an MBA, all eight universities offer management courses. The same is the case if you’re going to pursue an M.S. or a degree in Science. But, if you want to pursue an Engineering course, six out of the eight universities offer the required courses. University of Otago and Lincoln University DO NOT offer engineering courses. You can find more information about the courses offered on the university websites.
Top private colleges in New Zealand
The public universities in New Zealand have the best institutes in the country. But, if you cannot secure admission into any of these for some reason, there are a few good postgraduate private colleges as well. These private colleges have lower fees than universities, but employment options are also limited than public universities. Toi-Ohomai Institute of Technology has a good MBA course. Whitecliffe College of Arts and Design, Auckland, has a few good courses in humanities. Auckland Institute of Studies is another good option to pursue PG courses. You need to select your target university carefully. The better a university, the higher your chances of getting a personal loan quickly.
Financially, the tuition cost of most postgraduate programmes in New Zealand varies from $20,000-$35,000 for the course. An exception to this is MBA programmes, which are more expensive. These MBA programmes have tuition fees of $31,000-$50,000. Depending on your comfort level, you can choose the type of accommodation, ranging between $120-$200 per week. Additionally, the cost of living, varying from city-to-city is $13,000-$15,000 for a year. Cumulatively, these expenses can range between ₹40-60 lakhs.
What is the roadmap?
Everyone can’t afford this entire amount. But you must not miss out on an opportunity to study in New Zealand because of financial constraints. The New Zealand Government has recently introduced measures to ensure employment opportunities for international students.
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If you need financial assistance, there are attractive personal loan options available. Taking a personal loan also makes sense because you will not have to burn through the entire savings of your parents. Just make sure that you get the best personal loan interest rates in the market. You can always use a personal loan EMI calculator to understand the EMI amount and the repayment schedule.