The Federal Government has announced New Zealanders who grow up in Australia will soon become eleigible for the Higher Education Loan Program (HELP) for tertiary education or vocational training.

Federal Minister for Tertiary Education, Craig Emerson, said the announcement now means that thousands of people who until now had no access to student loans will now be eligible for assistance.

From 1 January 2015, New Zealanders with Special Category Visas will be eligible for HELP if they first entered Australia as a dependent minor aged under 18 years at least 10 years before applying; have been resident in Australia for 80 per cent of the last 10 years; and have been resident in Australia for 18 months of the last two years at the time of application.

"Australia and New Zealand have a famously close friendship. Helping these young students participate fully in Australia's tertiary education system will only strengthen that bond between our nations," Dr Emerson said.

"Until now, New Zealanders who arrived as children have been missing out on HELP for upfront study costs.

"This change will help those students participate fully in the workforce and maximise their contribution to the Australian economy."

The Government will contribute $10.6 million over the next four years towards the initiative.

For more information, visit: www.studyassist.gov.au/faq-nz