Are you looking for financial assistance to further your studies? The idea of a student loan may seem intimidating but researching your options will put your mind at ease and help you make an informed decision.
A student loan is a type of loan offered to individuals enrolled in academic programmes at tertiary education institutions. Their main purpose is to ensure students cover the costs of their studies.
Thousands on South African students rely on student loans from financial institutions to cover their higher education fees. Some student loans cover expenses such as tuition fees, registration, textbooks, housing, and other student related costs.
If you intend on pursuing your studies in any institution of higher learning, it is important to explore the funding options that you can take advantage of. Bursaries, scholarships, and grants are usually merit-based or financial need-based. However, students who don’t qualify for these funding opportunities may apply for a student loan to finance their studies.
If you’re worried about how you will fund your tertiary education, South Africa has a number of funding options that you can explore and choose the most suitable for you. One of the options includes student loans, which are offered by financial institutions.
South Africa provides financial aid to students, including bursaries, scholarships, grants, and student loans. In most cases bursaries, scholarships and grants are usually merit-based or financial need-based and not repaid. However, students who are financing their tertiary education through student loans are contractually bound to pay back the loan with interest.
The length, balance, type, and number of credit accounts are taken into consideration when calculating a person's credit score. If you have a student loan, it's crucial to not breach any agreements you have made with the lending company.
Inflation-linked expenses are the nightmare of most if not all working professionals, who need to dig deeper in their already cash-strapped pockets. It is even worse for individuals that need to pay fees, whether straight from their salary or via a student loan.
For many university or college graduates, managing student loan repayments can be challenging. However, there are several strategies they can use to make the repayment process easier and stress-free.
A good education is a great investment, but it doesn’t always come cheap. One of the main options students consider when looking for funding to pay their tuition fees are student loans.
Obtaining a tertiary education qualification often leads to greater job opportunities and a higher earning potential. The cost of enrolling in tertiary education programmes can be expensive and a student may require funding to register and complete their qualification.
If you are interested in funding options for your studies, and you specifically are wanting to study teaching, the Funza Lushaka Bursary might be for you!
Student loans are a viable option for students to consider when searching for funding for their tertiary education. Before making a decision to take out a student loan from a bank, there are a number of factors to first think about.
The cost of tertiary education prevents many students from achieving their academic goals. Student loans enable these students to cover the costs of their education and start repaying the loan once they have secured their qualifications.
Although different to full bursaries, partial bursaries, also serve to provide funding assistance to qualifying students. If you are a prospective or enrolled tertiary student, there are some things you should know if you plan to apply for a partial bursary.
While applying for a student loan to fund your tertiary studies is a risky alternative to other sources of student funding, it is still likely to be considered if you didn’t manage to secure a bursary.
All students looking to receive tertiary funding will be able to benefit from the FNB student loan scheme. This FNB student loan caters to everyone, being available both to customers who bank with FNB as well as customers who don't bank with FNB.
Since there are many students each year who are unable to afford their tertiary studies, a few banks have begun student loan schemes in support of those who do not manage to claim a bursary fund. Nedbank represents just one of those banks, offering student loans with flexible repayment options to part-time and full-time students in tertiary institutions.
For students who have not managed to claim any sort of bursary or scholarship funding, certain banks have you covered through their student loan initiatives. One such bank is Standard Bank, whose student loan option represents a great alternative funding option for students in need of financial support for their studies.
Do you know the difference between a bursary and a student loan?
A bursary may seem like the first choice for cash strapped students but it may not always be the easiest to obtain and students need to consider all their options.
