The benefits of financing your studies with Nedbank are:
- Any South African enrolled in a SAQA accredited higher institution is eligible for the loan
- The loan amount is large enough to pay most or all fees associated with attending a tertiary institution, including equipment and books
- It is possible to hire up to R120000 per year of study
- Nedbank Student Loan can be repaid once you complete your studies
- With a flexible repayment plan, the loan can be repaid in up to three years.
Why is Nedbank student loan a good loan?
The Nedbank student loan is a student loan option with a maximum loan amount of R100,000.00 per year of study. The repayment period for the Nedbank Student Loan is 03 years after completion of the course and the interest rates are 10.25%.
The Nedbank student loan can be used to pay for textbooks, tuition, student equipment and housing. A statement describing how the loan will be used will be required. Results of recent exams may be required to prove your link with the educational institution.
In addition, the loan can be used to pay an overdue tuition, or your graduation if you are at the end of the course.
Funding is meant to help students who cannot afford higher education, which can cost hundreds of thousands of rand a year, depending on the programme.
Author’s opinion
A commitment to South African society was made when Nedbank created the Nedbank bank student loan. This is because this financing can be obtained in an easy way for all citizens, especially the South Africans most affected by the apartheid regime that brought so many setbacks to our culture and society.
A tip for your pocket
As the student loan is a financing with long-term repayment, the interest rates will be slightly higher than the other options on the market. This is because the value of your studies is multiplied by the interest rate on the date of hiring and, as graduation takes place years later, a market adjustment is imposed on the initial value, making your balance greater than the initially contracted . In addition, the loan begins to be charged in the month following your graduation, so planning is needed to deal with this debt.
Do you want to find out how to take out the Nedbank student loan? It’s simple steps and you can hire quickly!
