Thirdly, students can take out student finance to study overseas. This is always an exciting experience as it allows students to immerse in new cultural experiences. However, the only requirement for studying abroad is that the institute be SAQA approved.
Simply visit and apply for an online quote. This service saves you time and allows you to get more studying done.
# FNB Student Loans
FNB is known for its renowned services in South Africa. Likewise, they offer great student finance options to those looking to study. FNB student loan offers students a maximum amount of R300,000 in funding tertiary studies. These funds include tuition fees, accommodation, equipment, other study material, and devices. Additionally, they give clients the option to apply for annual funding if they are studying for more than a year.
Benefits of taking out student finance with FNB
Clients can get a personalized interest rate, which is fully based on their credit score. If they have a good credit/risk profile they will be offered a better rate. The current minimum interest rate sits at 6.50% (prime less 0.5%) and a maximum of % (prime http://www.guaranteedinstallmentloans.com/payday-loans-id plus 4.5%).
Secondly, FNB offers flexible payment options. Students can get personalized payment options based on what suits them. Furthermore, students can enjoy the benefit of paying an interest only repayment for the first year.
FNB offers compulsory credit life insurance if a student chooses to take out a loan with them. Their Customer Protection Plan covers the student and debtor in the event of the following:
- Inability to earn income
- Temporary and permanent disability
# Nedbank Student Loans
Nedbank offers great options to both full-time and part-time students. Full-time students will only need to pay the monthly interest on the loan. Upon completing studying they will then start repaying the loan and interest. However, part-time students will need to pay the loan along with interest from the beginning.
It should be noted that students will need to apply for each year of their studies. Students will need to submit proof of results for the previous academic year. This is to ensure that the person is actually studying.
In most cases, full-time students do not earn an income. For this reason, full-time students will need a guarantor. The guarantor will be responsible for monthly interest repayments. Lastly, if a student does not complete their studies they will still need to pay back the loan.
Benefits of taking out a student loan with Nedbank
Nedbank offers its clients customized payments. Essentially, this is great if you’re on a budget. Furthermore, student loans from Nedbank cover studies, accommodation, study related gear and textbooks. Lastly, students will also have credit life cover. Read more about how to apply for Nedbank student loans.
# ABSA Student Loans
ABSA bank offers students loans in order to help them ease the financial burden. They offer low interest rates, which is ideal when taking out a loan. In order to qualify for a student loan, you need to earn more than R3000. Furthermore, you will need to be a South African citizen or living fulltime in South Africa. Students also can either take out the loan in their name or a sponsor’s name.
The minimum loan amount is R15000 per annum. This covers one year’s tuition fees and associated costs. Student finance from ABSA is based on client’s risk and affordability profiles. The better your profile, the better chance you will be approved.
ABSA student finance covers the following intuitions:
- University/ university of technology
- Aviation training which is approved by SA Civil Aviation Authority