Studies have shown that individuals who further their studies often have an easier time finding employment and improving their standards of living compared to those who leave school with a Grade 12 certificate. In South Africa, thousands of young people strive to further their education through tertiary studies – something which continues to become increasingly expensive every year.
While some individuals can afford to pay for their studies, more people are relying on loans to be able to pay for their education. The major banks in South Africa have finance available in the form of study loans.
Nedbank is one of the big four banks in South Africa and specialises in providing products and services including transactional services, credit services as well as loans.
Through Nedbank Edu Loans you are able to get financial assistance to pay for your studies. The study loan helps you cover your fees, accommodation, textbooks and more. There are flexible payment terms and great interest rates.
Nedbank understands that it’s not always easy to get employment after obtaining a qualification from a tertiary institution. For this reason, with Nedbank Student Loans, students who have to complete community service, internships or articles to complete their chosen field of study are granted a repayment grace period.
How Nedbank Student Loans work:
Fulltime students must be supported by a guarantor when applying for the loan. Anyone with sound financial standing may stand as guarantor. This individual will be responsible for interest repayments and he/she should have their main transactional bank account with Nedbank.
Documents required for application:
- Valid South African ID or valid passport for non-residents
- Matric results or latest academic results
- Latest payslip or proof of earnings
- Proof of current residential address
- Latest 3 months’ bank statements
- Income and expenditure statement
- Invoice/Statement of fess owed from tertiary institution
- Invoice of other study-related costs
- Co-habitation form obtained from a branch
- Proof of life insurance cover in case of death or disability
To find out more about Nedbank Edu Loans, call: 0860 555 111