Standard Bank Student Loan

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
See also  Mandela Rhodes Scholarship

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?

  1. Go to standard bank website and look or search for “Student Loan”