What is the Fees Free scheme?

Fees Free is a government initiative designed to help first-time tertiary learners by covering the cost of their final year of study, rather than the first year as it previously did. Starting in 2025, Strategi Institute will be offering the New Zealand Certificate in Financial Services (Level 5) under this updated scheme. For shorter programmes like NZCFS (Level 5), which can be completed in under a year, the scheme ensures learners are reimbursed in full as soon as they pass, making it a completely cost-free qualification.

• A rewarding career in financial services
  The financial services industry offers excellent opportunities for growth, development, and making a real impact. By gaining the New Zealand Certificate in Financial Services (Level 5) through the Fees Free scheme, you can start a fulfilling career without the financial burden.

• A cost-effective recruitment opportunity for FAPs
  This scheme also provides a cost-effective way for financial advice providers (FAPs) to recruit and train new advisers without long-term expenses. The upfront fees are covered, and once the student completes the course, they’ll receive a refund from Inland Revenue. Proper management of the process means no cost to the FAP or the student in the long run.

How does it work?
Here’s a quick overview of how the Fees Free scheme works:

• Eligibility Check: Before enrolling, check your eligibility via the Fees Free website. You can get an initial idea of your eligibility there, but final confirmation will come through the myIR portal. Be sure to read the full terms and conditions and review the FAQs carefully. Confirm your eligibility before starting the programme to ensure the refund applies to you.

• Paying the fees: Learners will need to pay the course fees upfront to Strategi Institute.

• Successful completion: Once learners complete the qualification, they can apply for a refund through the myIR portal. If eligible, they’ll receive their fees back, either reducing their student loan or paid directly into their bank account.

Who qualifies for Fees Free?
To qualify for the Fees Free scheme for the New Zealand Certificate in Financial Services (Level 5) in 2025, you must:

• Complete the programme in under a year.
• Be a New Zealand citizen or permanent resident for at least three years.
• Be a first-time tertiary learner.

It’s important to confirm your eligibility before enrolling. A good starting point is the Fees Free website, where you can check eligibility by entering your NSN number. Be sure to read all the terms and conditions carefully. If you’re unsure, visit the Inland Revenue website for more details or give us a call.

How to apply for the Fees Free refund
Once learners have successfully completed the qualification, they can apply for the Fees Free refund as follows:

• Log into your myIR account on the Inland Revenue website.
• Submit your refund request after completing your qualification.
• If eligible, the refund will be applied to reduce your student loan or paid directly to you.
  Inland Revenue cannot reimburse employers who pay the learner’s fees; if an employer covers the fees, the learner will need to manage the payment and refund process.

Support and further information
For learners: We recommend starting with the Fees Free website to check your eligibility. The website provides an overview of the scheme and answers common questions in the FAQs. You can also use your myIR account to confirm eligibility. If you have any questions or need assistance, feel free to get in touch with us at Strategi Institute – we’re happy to help.

For FAPs: This scheme offers a cost-effective way to recruit and train new advisers, providing them with a nationally recognised qualification at no long-term cost. While we can’t advise on managing the refund process for employees, we encourage you to explore how this initiative can benefit your team and support growth within your business. It’s an excellent opportunity to develop talent while ensuring the qualification remains affordable. For more details or to discuss further, contact us today.