Are you looking for a student loan to continue your studies ? standard bank can help you.
Who qualify for standard bank student loan?
- Only South African citizens can apply
- Standard Bank and non-Standard Bank account holders can apply for full-time and part-time student finance
- Your guarantor/surety does not have to be a Standard Bank* account holder
- If, however, you apply to study overseas, your guarantor/surety must bank with Standard Bank South Africa
How much can you borrow?
You can apply for a minimum loan amount of R5 000. The maximum loan amount is based on affordability and the ability to repay the loan. Our monthly service fee is R69 and our once-off initiation fee ranges from R649.75 up to a maximum of R1 207.50 (VAT inclusive).
How are funds paid
- Tuition will be paid directly to the institution
- Accommodation fees will be paid directly into the landlord’s account
- Textbooks and equipment will be paid directly into the guarantor/surety’s transactional account or into the account of the student if they are self-assured
What does Standard bank student loan cover ?
- Registration fees
- Tuition fees:
There is no maximum limit for tuition fees; the amount granted, however, is based on what you’re able to afford
- Accommodation:
Up to R60 000 per year (must have lease agreement)
- Textbooks and study equipment, i.e. laptops, tablets and any other course-related equipment:
Up to R20 000 (with proof of costs)
Up to R6 000 (if no proof of costs)
What it costs and how to Qualify fro Standard bank student loan?
Full-time students:
- You’ll need someone to co-sign your student loan as guarantor/surety if you’re a full-time student
- Your guarantor/surety is the person responsible for servicing the interest and fees while you study, or if you default on your repayments
- Both you and your guarantor/surety must be present at the branch to sign for your student financing
- There can only be one guarantor/surety on a student loan and your guarantor/surety must earn at least R3 000 per month
- You will be granted a grace period of 6 months after completing your studies before taking over the loan repayments
- Your guarantor/surety, however, will continue to pay the interest and fees until you are able to take full responsibility
Part-time students:
- If you’re a part-time student, you must earn a minimum income of R5 000 per month to qualify
- As a part-time student, you will be required to pay the loan while you study
Matriculants please note: We need your final National Senior Certificate results before we can complete your Student Loan application. Until then, simply click on DO I QUALIFY? to quickly find out how much funding you could get towards your studies.
How to Apply for Standard bank student loan?
- Go to standard bank website and look or search for “Student Loan”