Postgraduate Student Loans 2016
According to statistician general Pali Lehohla, in 2013, “The proportion of blacks that are attending university is too small, especially for postgraduate studies.” In a globalised world, postgraduate skills are high in demand. In South Africa, a developing country, there is a shortage of graduates at postgraduate level.
This can partially be attributed to differing socio-economic circumstances among ordinary citizens. Many students who qualify academically for postgraduate studies face financial challenges which often hold them back from furthering their studies.
While some people rely on scholarships, bursaries or self-funding for postgraduate studies, some people opt for postgraduate student loans.
In South Africa, the four major banks in the country offer student loans. EduLoan and the National Student Financial Aid Scheme also provide significant amounts of funding which can supplement postgraduate funding.
FNB Student Loan:
Loans are offered from R4000 to R80 000 and students are required to apply for each new year of study. These loans cover:
- Tuition fees
- Books
- Campus accommodation
The Customer Protection Plan is compulsory.
To qualify for this loan you’ll need to fulfil these criteria:
- Be employed
- Be registered with a South African tertiary institution
- Earn a minimum of R6000 per month
Documents required:
- Valid South African ID
- Latest payslip
- Proof of residence
- Proof of enrolment
- 3 months’ bank statement
EduLoan:
Established in 1996, this financial institution provides educational funding. There are low monthly repayments, fixed monthly instalments and there are no limits on the loan amount, as long as you are employed and can afford to repay it. After applying for this study loan, you can expect a response within 48-72 hours. Payment is made directly to the institution.
If you are looking for postgraduate student loans in 2016, there are a range of offers from various lenders, such as banks as well as other lenders. Do your research and make sure that you get access to the resources you need to get ahead.
