Nedbank Student Loans – Financing Tertiary Education Needs

Overview

Statistics show that South Africa is lagging behind global rates of educational participation. The South African government has therefore endeavoured to raise annual university enrolments from the current 900 000 to 1.5million by 2030, in order to achieve a higher education participation rate of 23%. This figure currently stands at an estimated 16%, lagging far behind the global standard of 30%. An inexorable fact remains though: along with the cost of living, the cost of tertiary education has increased significantly over the past 10 years, with costs rising exponentially each year.

For many students, getting a student loan is the only way they can afford to further their studies. Student grants and loans are the principal means by which poorer students access their higher education. Statistics have revealed that an estimated 25% of students access commercial loans to fund their studies. Nedbank is a leading financial institution in South Africa, which has initiated a student loan package to provide a sense of financial security.

Nedbank student loans cover tuition fees, accommodation, books and study-related equipment. Offering competitive interest rates and flexible repayment terms during and after completion of studies, Nedbank realises that getting the right qualification is your key to success in a highly competitive world.

The student loans are subject to a once-off administration fee and repayments are done via monthly debit order. Reapplication for each year of study is required. Nedbank understands the various circumstances students face upon completion of their studies and during their studies. This is why the bank has effected grace periods for students who have to complete internships, community service or articles to qualify in their field of study. Competitive Nedbank credit life cover for death or disability is included.

For a comprehensive student loan plan to suit your educational and financial needs, the Nedbank Student Loan is a worthy contender.