Student Loans you can Get in South Africa

Student loans are useful for helping individuals who are furthering their education meet their financial obligations to the tertiary institution.  Paying for tertiary education in South Africa can be quite costly.

This country is home to many world-class universities and colleges, but the reality is that higher education is expensive.

The major banks in South Africa offer student loans to South Africans as well as to non-South Africans with valid study permits. Bank loans cover studies at various institutions and students in most cases are required to repay the loan upon completion of studies.

EduLoan:

This institution assists individuals with student finance for textbooks, registration fees, accommodation, tablets, laptops and other relevant study equipment. EduLoan encourages full-time students to get a guardian, sponsor or parent who is employed to pay the loan back by the time you start working.

First National Bank:

Student loans are offered from R4000 upwards. To apply, individuals can simply visit the website and fill in an online application form. Alternatively, they can visit a branch. The amount you qualify for as well as the interest charged on this loan is dependent on your individual credit profile.

Nedbank:

By applying at Nedbank you can gain access to study loans of up to R60 000. After approval you will be expected to repay interest each month while studying.

Absa:

Absa Study Loans are offered from R3000 to a maximum of R150 000. An added advantage offered by this lender is that the loans are offered to individuals earning a minimum of R3000 per month. The study loan covers SETA and SAQA accredited courses, while interest rates are quite competitive.

Standard Bank:

At Standard Bank, study loans are granted for a specific year of study. The finance covers tuition and accommodation, while the interest rate varies from individual to individual. You can apply online or in-branch.