Nedbank Student Loans
Overview
Nedbank Student Loans provide individuals with a gateway to getting an education. Education is the key to success in the competitive world we live in. Furthering your studies puts you in a better position to create a better life for yourself and your loved ones. In South Africa, even though many people are willing to further their studies, not everyone can afford to. Tertiary education costs are quite hefty and many people don’t realise that they have options available more easily than they think.
Nedbank Student Loans cover tuition fees, accommodation, books and study-related equipment. Tuition will be paid directly into the account of the tertiary institution. To qualify, courses must be SAQA-accredited and the duration of the course must be at least 12 months.
What is required for application?
- A valid South African I.D.
- Latest Matric results
- Latest payslip
- Proof of current address
- Latest 3 months’ bank statements
- Invoice/statement of fees owed from the institution
- Invoice of other study-related costs
Nedbank Student Loans are offered at competitive interest rates and flexible repayment terms during and after completion of the studies.
Nedbank understands that certain courses require internships to be completed prior to or after graduation. The bank therefore allows borrowers grace periods for internships. For individuals younger than 18 years old and those who are unemployed, surety is required for application. The student and their surety will be required to visit a Nedbank branch with the necessary documentation to apply. Students will also be required to apply for each year of registration.
Loans are subject to a once-off administration fee and repayments are made on a monthly basis via debit order.
Credit Life Insurance is offered, which ensures that loans are paid off in the event of death, retrenchment or in the event of critical illness that renders you or your surety unable to repay.
For more on Nedbank Student Loans, visit their website here: www.nedbank.co.za
