A student loan is a way of funding further education after high school. You can use your student loan to pay for:
There is no maximum limit for tuition fees; the amount granted, however, is based on what you’re able to afford.
Up to R60 000 per year (must have lease agreement)
Up to R20 000 (with proof of costs)
Up to R6 000 (if no proof of costs)
A minimum loan amount of R5 000 is applied regardless of what category you apply for. This means, that if you apply for money to purchase only equipment or textbooks, you must apply for at least R5 000, or if you apply for tuition alone, your tuition costs must be at least R5 000.
Full-time students:
Part-time students:
FULL-TIME STUDENTS:
Generally referred to students who attend class for more than 30 or 35 hours a week.
PART-TIME STUDENTS:
Generally referred to students who attend class for less than 30 or 35 hours a week.
SURETY:
The person who services the monthly interest and fees on the account, while the full-time student studies, and takes responsibility of the debt should the student not be able to pay.
HIGHER EDUCATION:
Education that you complete post matriculation.
CAPITAL REPAYMENTS:
Payments that will reduce the loan amount including the limit borrowed, monthly fees and interest.
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