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Student Loan without surety

Part time study product detail

Are you a student eligible for funding, and you don’t have surety? If you’re studying at one of our pilot institutions, you can apply for a Student Loan Without Surety today. The best part is that you only start repaying the loan once you’ve completed your studies.

Some of the benefits

No surety required

You don’t need surety we’ve got you backed

No repayments while you study

You will only be required to start repaying after you graduate or employment is secured.

Competitive interest rate

Finance your studies at an affordable interest rate from 7.25%
*T&Cs apply

Historical student debt is covered

This loan covers your existing university student debt that may be preventing you from completing your studies *T&Cs apply
How it works
  • You don’t need suretyship or any income to qualify
  • The funds can be used to pay for tuition, accommodation, books and educational equipment
  • The funds will be paid directly to the university
  •  Monthly interest and service fees apply from the loan’s inception and will be added to the outstanding balance
  •  Competitive interest rate linked to the course you’re studying. 
  • The loan may be used to pay towards your existing tuition debt linked to your current course & university but cannot be used to settle existing tuition debt where you have failed that year of study
  • You don’t have to make repayments on the loan while you’re studying, but no penalties for repaying early
  •  You start repaying the loan 6 months after completing your course or when you start working (whichever happens first)
  •  Flexible repayment options based on your affordability

Read our terms and conditions

Qualifying criteria
  • You need to be a SA citizen
  • You need to be studying at a participating university
  • Your course must be on the list of approved courses as per the participating university for the pilot
  • Annual household gross income must be less than R 600 000
  • You need to have a Standard Bank transactional account.  Don't have one? Open a MyMo account today

 

Student loan without surety FAQS

Student loan without surety FAQS

How to get it

HOW TO APPLY

  • Download and complete the application form
  • Submit your completed and signed application form with supporting documents (noted below) to: [email protected] 
  • We’ll assess your application and send you an email of the outcome within 3 business days

DOCUMENTS REQUIRED

  • South African Identity document
  • Proof of residence (not older than 3 months)
  • Proof of household gross income
  • Proof of latest academic results
  • University registration letter
  • Proof of cost for books and educational equipment if over R6000 (if funding is required)
  • Lease Agreement reflecting cost of accommodation (if funding is required)
  • Statement of university tuition or residence cost (if funding is required)

 

 

 

  • How it works
  • Qualifying criteria
  • Student loan without surety FAQS
  • How to get it
  • You don’t need suretyship or any income to qualify
  • The funds can be used to pay for tuition, accommodation, books and educational equipment
  • The funds will be paid directly to the university
  •  Monthly interest and service fees apply from the loan’s inception and will be added to the outstanding balance
  •  Competitive interest rate linked to the course you’re studying. 
  • The loan may be used to pay towards your existing tuition debt linked to your current course & university but cannot be used to settle existing tuition debt where you have failed that year of study
  • You don’t have to make repayments on the loan while you’re studying, but no penalties for repaying early
  •  You start repaying the loan 6 months after completing your course or when you start working (whichever happens first)
  •  Flexible repayment options based on your affordability

Read our terms and conditions

  • You need to be a SA citizen
  • You need to be studying at a participating university
  • Your course must be on the list of approved courses as per the participating university for the pilot
  • Annual household gross income must be less than R 600 000
  • You need to have a Standard Bank transactional account.  Don't have one? Open a MyMo account today

 

Student loan without surety FAQS

HOW TO APPLY

  • Download and complete the application form
  • Submit your completed and signed application form with supporting documents (noted below) to: [email protected] 
  • We’ll assess your application and send you an email of the outcome within 3 business days

DOCUMENTS REQUIRED

  • South African Identity document
  • Proof of residence (not older than 3 months)
  • Proof of household gross income
  • Proof of latest academic results
  • University registration letter
  • Proof of cost for books and educational equipment if over R6000 (if funding is required)
  • Lease Agreement reflecting cost of accommodation (if funding is required)
  • Statement of university tuition or residence cost (if funding is required)

 

 

 

Get in touch

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