The number of people using the student loan scheme has jumped and so has the amount they are borrowing.

An Education Ministry report to Tertiary Education Minister Penny Simmonds said 126,696 people borrowed from the loan scheme in the first three months of the year, 12 percent more than in the first quarter last year.

In total they borrowed $1.145 billion, 19 percent or $184 million more than the same period in 2025.

The report said the number of students borrowing for fees increased 13 percent while the numbers borrowing for course-related costs and for living costs increased 11 and 10 percent respectively.

However, the amounts they borrowed increased by even larger percentages.