"Education is the most powerful weapon which you can use to change the world” - Nelson Mandela
Student loans are designed to help cover the costs of university tuition fees, accommodation and study material. Student loans differ from other types of loans as they may have substantially lower interest rates and the repayment schedules may be deferred whilst the person is completing their education. A Student loan enables individuals to get a degree, diploma or other formal qualifications that they would not have been able to if it were not for the loan. Luckily, there’s a host of financial institutions in South Africa, amongst the traditional banks, that focus solely on providing student loans.
Here at Fincheck, we thought it would be awesome to provide you with a short list of prospective lenders in South Africa that can help you with a student loan:
Eduloan is a leading education finance specialist committed to making education both affordable and accessible to all individuals looking to further their education.
Mafori Group of Companies
Mafori Group is an Integrated financial services platform targeted at the South African population excluded by the currently available financial services industry. Amongst other financial and legal services, they can provide you with an educational loan up to R15000.
The National Student Financial Aid Scheme
NSFAS exists to provide financial aid to eligible students at public colleges and public universities. They identify eligible students, provide loans and bursaries and collect student loan repayments to replenish the funds available for future generations of students.
Study Loan SA
Study Loan SA has partnered with a group of Distance Learning Colleges within South Africa that offer study loans with affordable monthly payment schedules.
The advantage of the said lenders is that they specialise in providing study loans. You can thus be confident in the availability of study loans in South Africa as there is a multitude of expert lenders available to you. Fincheck wishes you all the best in your educational endeavors! You’re welcome to compare the student loans available from the mentioned lenders here.