What is Student Loan?
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses.
How To Qualify For A Student Loan In South Africa
In most instances, the principal debtor is the parent or sponsor applying for funds to be used for the student’s tuition, accommodation, etc.
- Have a minimum income of R3000 deposited into your account.
- Be permanently employed or self-employed.
- The applicant and student must have a South African ID.
Can foreigners get a student loan in South Africa?
In South Africa, all the major banks, such as Absa Bank, Standard Bank, First National Bank, and Nedbank, provide student loans, both to South Africans as well as international students with valid study permits. A bank loan includes studies at private institutions.
How much is a student loan in SA?
FNB student loan offers students a maximum amount of R300,000 in funding tertiary studies. These funds include tuition fees, accommodation, equipment, other study material, and devices.
Which banks offer student loans in South Africa?
Here Are Some Of The Best Student Loans In South Africa
- Fundi Educational Loans.
- Standard Bank.
- ABSA.
- First National Bank.
- Capitec.
- Nedbank.
How does a bank student loan work in South Africa?
Part-time students are required to start repaying their loans at the beginning of the academic year. Full-time students are required to nominate a surety to make monthly payments on the interest of the loan. The student will be required to start repaying the loan when they begin working.