Higher education in South Africa is generally quite expensive so many people rely on student loans in order to make their further education dreams come true.
Costs for student loans depend on the course of study that an individual is pursuing.
A benefit offered by student loans offered by banks is that they offer cover for studies at private institutions.
Applying for these loans is quite simple and can be done by visiting the website or by going to your nearest branch.
Nedbank is one of the “big four” banking institutions in South Africa. The institution has extensive history in the South African financial industry and continues to expand its services within the South African market.
The bank was established in 1831 as the Cape of Good Hope Bank. With its range of products and services, Nedbank has been able to give clients financial solutions which are personalised and suit individual needs. Over the years it has become a reliable and trustworthy institution.
One of the products offered by Nedbank is the student loan.
Tell me more about the Nedbank Student Loan?
This type of loan ensures peace of mind and financial security for individuals who want to finance their tertiary education.
Qualifying for this type of finance may help individuals get access to a good tertiary education.
Offering flexible payment terms, Nedbank Student Loans offer a full payment option that covers fees, accommodation and textbooks.
In addition to great interest rates, loan applicants have the benefit of a grace period for individuals who need to complete community service, internships or articles.
Competitive credit life cover is provided for death or disability.
What do you need to apply?
The student or guarantor needs to bring the following documents
- Valid South African ID
- Last academic results/ matric results
- Proof of earnings
- Income and expenditure statement
- Invoice/statement of fees owed from the tertiary institution
- Proof of life insurance cover
In order to apply for a Nedbank Student Loan the guarantor must have their main transactional bank account with Nedbank. The guarantor will also be responsible for interest repayments during the course of the studies.
To contact Nedbank, call: 0860 555 111