Benefits Of Loans For Studying Abroad

Studying abroad can be a rewarding experience on many levels. Not only do students get the opportunity to learn in a new, different environment, but they also get a chance to immerse themselves in foreign cultures and get exposed to new ways of learning. While some individuals get access to scholarships that may provide them with the funding they need to fulfil this experience, others may need to rely on loans for studying abroad.

South Africa has had an 8% increase in the number of international students since 2007. The country is also ranked number 20 among US students as a preferred international study destination.

Numerous students in South Africa are also seeking opportunities to study abroad.

What benefits are offered by getting loans for studying abroad?

This loan may be a viable alternative if you haven’t qualified for a scholarship.

You gain the opportunity to study in a different environment and to broaden your knowledge by learning in a foreign country.

You get to gain from a different cultural experience.

You can work out a reasonable repayment plan with your lender so you can repay the loan off at a comfortable rate.

Where can I get loans for studying abroad in South Africa?

Nedbank offers student loans to South African citizens applying for postgraduate studies abroad. This loan is offered to individuals who are registered at approved tertiary institutions.

Rutega Education Services provides assistance for individuals who are looking at studying abroad in the United Kingdom, United States or Canada.

Before applying for loans for studying abroad, speak to your advisors, your family and friends. Also consider that it can be risky and the fact that you have to repay the money you borrow after you graduate. Remember that it’s important to start early, to ask for help and to seek finance from multiple resources.