Banks That Offer Student Loans in South Africa
If you do not qualify for bursaries or you’re having a hard time finding a scholarship to fund you studies, don’t give up just yet. South Africa has a wide variety of bank that are more than will to assist you with a student loan.
It’s not always easy to find bursaries and scholarships these days. They might not fund your specific qualification, or you might be just short of satisfying all the requirements to qualify for the bursary.
But don’t stress, there are many banks that offer loan to students, regardless of the type of qualification you’re going for. So not receiving a bursary or a scholarship does not mean your academic dreams are over.
What is a student loan?
A student loan is a sum of money that you can apply for through a bank to fund your studies.
In most cases, the loan covers all study related expenses such as tuition, books, equipment, student accommodation, and meals.
The loan are typically paid back during or after you finish studying and have fair interest rates, fees, and repayment schedules compared to others types of loans.
The following banks offer student loans:
FNB
ABSA
Nedbank
Investec
Standard Bank
Capitec
The standard requirement when applying for a student loan is:
You must be over the age of 18
The principle debtor (typically a parent or guardian who signs surety on the loan for you) must earn a certain amount per month
You must be registered as a student with a tertiary institution in South Africa
So if you wish to study further and meet the requirements above, then get applying.
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