STUDENT LOANS INFORMATION

Please see information on Student loans below.

        

Student loans

What is a Student Loan?

Getting a good education has never been so important because it is one of the best assets you can have. Studying is an expensive undertaking. Student loans are designed to provide financial aid for students while they are studying. With a student loan your financial situation won't stand between you and the education you want.

In South Africa there are various forms of student loan options. You can compare different student loans in our comparison area.

The exact amount you can borrow will depend on your individual situation and your education requirements.

Before taking out a student loan you might want to look into grant and scholarship options.

What are Student Loans used for?

Student Loans can be used to cover a variety of expenses while you are studying including:

  • Tuition, administration or examination fees
  • Accommodation costs
  • Study Materials
  • Equipment costs
  • General living expenses

What are the Advantages?

A student loan will carry lower interest rates compared to other types of loans. Most of them offer flexible repayment plans and you don't have to start repaying the loan until you have completed your studies. In some cases you do not have to start paying back the loan until you have started earning.

What are the Disadvantages?

You should always bear in mind that you will have to pay back the loan once you have completed your education. Even if you fail to complete your studies you will still have to repay the loan. In some cases the interest rate may rise the longer you leave to pay it back so it is worth shopping around to find the right loan for you. With some student loans you might be required to pay the monthly interest on the loan.

        


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