What is a student loan?

    A student loan is a way of funding further education after high school. You can use your student loan to pay for:​

  • 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)

  • Minimum loan amount:​

      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.

How does the student loan work?

  • 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 surety’s transactional account or into the account of the student if they are self-assured
  • You’ll need someone to co-sign your student loan as surety if you’re a full-time student
  • Your 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 surety must be present at the branch to sign for the student loan
  • There can only be one surety on a student loan and your surety must earn at least R3 000 per month
  • The chosen course duration needs to be a minimum of 3 months
  • You need to study at, or be accepted into, an accredited institution, i.e. SAQA; SETA; DHE; Umalusi and SACAA approved Flight Schools
  • Your student loan can be insured, so that your debt could be covered in the event of disability, dread disease or death
  • Check out our Personal Protection Plan and insure your student loan
  • You must be a South African citizen to apply

When do I pay it back?

Full-time students:​

  • You will be granted a grace period of 6 months after completing your studies before taking over the loan repayments​
  • Your 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



Generally referred to students who attend class for more than 30 or 35 hours a week.


Generally referred to students who attend class for less than 30 or 35 hours a week.


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.


Education that you complete post matriculation.


Payments that will reduce the loan amount including the limit borrowed, monthly fees and interest.