Apply for a Student Loan
Get a student loan quote online or increase your existing loan’s limit.
Whether you’re just starting out or wrapping up your degree, you can apply online for a student loan or easily top up your existing one. Get what you need to keep studying, including laptops and tablets, so you never miss a class.
No maximum
Tuition fees
R
60 000
Maximum accommodation
R
20 000
Textbooks & equipment
Some of the benefits
Study overseas
Our student loan enables you to study abroad at any SAQA approved institution
Flexible repayments
Benefit from the 6-month grace period after completing your studies, or repay while you study
*T&Cs apply
Online quote
Get an instant quote online before finalising your student loan application
More than tuition
Use your student loan to also cover your accommodation, books, laptops and more
How it works
What will be covered:
- Registration fees
- Tuition fees
- There is no maximum limit for tuition fees, however, the amount granted 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)
What you need to know:
- 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
- A minimum loan amount of R5 000 is applied regardless of what category you apply for
- 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 with our Personal Protection Plan, so that your debt will be covered in the event of disability, dread disease or death
- We also fund PPL (Private Pilot’s License). The Institution must be accredited with SACAA (South African Civil Aviation Authority)
Other benefits:
- Exclusive deals and discounts at various retailers through Varsity Vibe
- Thrive Student Living terms and conditions
- Van Schaik Bookstore Offering terms and conditions
Student Loans Terms and Conditions
How are funds paid
- 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 guarantor/surety’s transactional account or into the account of the student if they are self-assured
Who can apply
- Only South African citizens can apply
- Standard Bank and non-Standard Bank account holders can apply for full-time and part-time student finance
- Your guarantor/surety does not have to be a Standard Bank* account holder
- If, however, you apply to study overseas, your guarantor/surety must bank with Standard Bank South Africa
Matriculants, please note: We need your final National Senior Certificate results before we can complete your student loan application. Until then, simply click on Do I Qualify? to find out how much funding you could get towards your studies.
What it costs
Full-time students:
- You’ll need someone to co-sign your student loan as guarantor/surety if you’re a full-time student
- Your guarantor/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 guarantor/surety must be present at the branch to sign for your student financing
- There can only be one guarantor/surety on a student loan and your guarantor/surety must earn at least R3 000 per month
- You will be granted a grace period of 6 months after completing your studies before taking over the loan repayments
- Your guarantor/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
How to get it
- Get an online quote by completing the form after clicking on Do I Qualify?
- Once the online application is pre-approved, do the following:
Get your documents ready
These are the original documents you’ll need to take with you to your nearest Standard Bank branch.
1. Course-related documents
- Registration letter from the institution. Should you need registration funds, an acceptance letter will be required, however, full funds will only be paid out once a registration letter is in place
- Proof of costs for tuition, accommodation, textbooks and/or equipment
- Proof of latest academic results
- If you are in matric, we require your final National Senior Certificate results to complete your application
2. Personal (FICA) documents
- ID (student & guarantor/surety)
- Proof of residence not older than 3 months (student & guarantor/surety)
- 3 Months’ payslips (guarantor/surety)
- 3 Months’ bank statements for non-Standard Bank clients (guarantor/surety)
Visit nearest branch
A consultant will assist you with the final stage of your application.
Get the funds
All payments will be made to the institution and relevant parties.
* To finalise the process, you should visit your nearest branch within 7 days if you applied via “Do I Qualify?”.
-
How it works
-
How are funds paid
-
Who can apply
-
What it costs
-
How to get it
What will be covered:
- Registration fees
- Tuition fees
- There is no maximum limit for tuition fees, however, the amount granted 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)
What you need to know:
- 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
- A minimum loan amount of R5 000 is applied regardless of what category you apply for
- 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 with our Personal Protection Plan, so that your debt will be covered in the event of disability, dread disease or death
- We also fund PPL (Private Pilot’s License). The Institution must be accredited with SACAA (South African Civil Aviation Authority)
Other benefits:
- Exclusive deals and discounts at various retailers through Varsity Vibe
- Thrive Student Living terms and conditions
- Van Schaik Bookstore Offering terms and conditions
Student Loans Terms and Conditions
- 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 guarantor/surety’s transactional account or into the account of the student if they are self-assured
- Only South African citizens can apply
- Standard Bank and non-Standard Bank account holders can apply for full-time and part-time student finance
- Your guarantor/surety does not have to be a Standard Bank* account holder
- If, however, you apply to study overseas, your guarantor/surety must bank with Standard Bank South Africa
Matriculants, please note: We need your final National Senior Certificate results before we can complete your student loan application. Until then, simply click on Do I Qualify? to find out how much funding you could get towards your studies.
Full-time students:
- You’ll need someone to co-sign your student loan as guarantor/surety if you’re a full-time student
- Your guarantor/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 guarantor/surety must be present at the branch to sign for your student financing
- There can only be one guarantor/surety on a student loan and your guarantor/surety must earn at least R3 000 per month
- You will be granted a grace period of 6 months after completing your studies before taking over the loan repayments
- Your guarantor/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
- Get an online quote by completing the form after clicking on Do I Qualify?
- Once the online application is pre-approved, do the following:
Get your documents ready
These are the original documents you’ll need to take with you to your nearest Standard Bank branch.
1. Course-related documents
- Registration letter from the institution. Should you need registration funds, an acceptance letter will be required, however, full funds will only be paid out once a registration letter is in place
- Proof of costs for tuition, accommodation, textbooks and/or equipment
- Proof of latest academic results
- If you are in matric, we require your final National Senior Certificate results to complete your application
2. Personal (FICA) documents
- ID (student & guarantor/surety)
- Proof of residence not older than 3 months (student & guarantor/surety)
- 3 Months’ payslips (guarantor/surety)
- 3 Months’ bank statements for non-Standard Bank clients (guarantor/surety)
Visit nearest branch
A consultant will assist you with the final stage of your application.
Get the funds
All payments will be made to the institution and relevant parties.
* To finalise the process, you should visit your nearest branch within 7 days if you applied via “Do I Qualify?”.
You can apply for a minimum loan amount of R5 000. The maximum loan amount is based on affordability and the ability to repay the loan. Our monthly service fee is R69 and our once-off initiation fee ranges from R567.07 up to a maximum of R1 207.50 (VAT inclusive).
If you are a full-time student while studying, your guarantor/surety will be required to pay interest and fees only. Our loan repayment term ranges from a minimum of 12 months to a maximum of 120 months. Our interest rates are personalized ranging from a minimum of 10.25%* (prime interest rate) to a maximum of 18.25%*
Some examples: Full-time student (who is still studying): The estimated repayment for a R50 000 loan at an interest rate of 10.25%* per annum will be *R567.07 per month.
Full-time student (who is working): The estimated repayment for a R50 000 loan at an interest rate of 10.50%* per annum over 72 months will be *R1024.13 per month.
Part-time student: The estimated repayment for a R50 000 loan at an interest rate of 10.25%* over 44 months would be *R1470.08 per month.
Can I get a student loan if I’m not working?
If you’re studying full-time and are unemployed, you will need to have someone stand as your guarantor/surety. The guarantor services interest and fees (only) while you are studying.
Upon completion, you are expected to take over full capital repayment. In the event that you default, the guarantor will be liable for paying back the total outstanding balance of the student loan.
Are student loan interest rates monthly or yearly?
Student loan interest rates are posted monthly on the student loan account.
Are student loan repayments tax deductible?
No, student loans are not tax deductible.
