What is a 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
Where Can I Get a Student Loan In South Africa?
Student Loans are offered by the 4 major banks in South Africa:
- First National Bank (FNB)
- Standard Bank.
- Nedbank.
- Absa.
How to get a student loan in South Africa?
What you need to apply
- A valid South African ID document or Smart card.
- Proof of residential address such as a municipal or rates bill.
- Your last three months’ payslips or bank statements.
- Proof of study in the form of a final letter of acceptance or proof of registration.
Can a foreigner apply for 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.
What is a student loan and how does it work in South Africa?
Student loans are used to pay for tuition as well as boarding, textbooks, food, and other student expenses. Scholarships, bursaries, and grants are not required to be paid back, which makes them different from student loans. If you need financial aid, you should apply through your university/college.