The high costs of getting education often make it difficult for most people to afford to pay. One of the ways to get around this challenge is by applying for a student loan.
To find the best student loans online it’s important to do your research and to shop around by comparing as many reputable lenders as possible.
In South Africa, student loan amounts generally vary from R4000 upwards. The maximum amount you can get may be up to R60 000 per year, depending on the qualification you are studying towards.
Surety is generally required to pay for the interest portion of the loan monthly, while the student is studying. Student loan providers generally allow the student 3-6 months after graduating before they are required to start making repayments.
When you are trying to find student loans online, it’s important to make sure that you find reputable, registered credit providers.
As an applying student, the amount you get will be dependent on your surety’s credit history and income bracket.
Best student loans online in South Africa:
Fundi:
Established in 1996 (as EduLoan), Fundi has assisted over 850 000 students.
The importance of education cannot be underestimated. A nation of educated citizens is empowered and has a better chance of being economically active and improving standards of living.
Getting a good education foundation is essential.
Through student loans online offered by Fundi, you get to benefit from affordable monthly repayments, which are also fixed, which allows you to budget better. There is no admin because Fundi pays the school loans directly to the schools. There is no deposit required and there are no long repayment terms.
FNB:
FNB student loans online are offered at a personalised interest rate, with loan amounts ranging between R4000 and R80 000. A new application is required for each year you start studying.
National Student Financial Aid Scheme (NSFAS):
NSFAS is willing to work with you even if you don’t have surety. It takes only 20 minutes to approve or decline your loan, with payouts being made within 48 hours.
