Student Loan without surety
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.
R
120 000
Maximum loan per year of studies
Covered
Tuition, accommodation, textbooks & educational equipment
Covered
Existing tuition debt
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 11.75%
*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 a surety or any income to qualify
- The money can be used to pay for tuition, accommodation, books and educational neccesities such as a laptop, books, etc
- The money for tuition will be deposited directly in to the university’s account with the your details as reference
- Monthly interest and service fees apply and will be added to your outstanding balance
- Competitive interest rate applies
- The loan may be used to pay your existing outstanding fees linked to your current course and university
- There is no pressure to start repaying the loan before you complete your studies
- You have an option of settling your loan account earlier than the prescribed term with no penalties
- You only start repaying the loan after 6 months of having completed your studies (whichever happens first)
- You have flexible repayment options based on your affordability
Student benefits
- Get 5% off on your student accommodation with Thrive Student Living
- 5% Discount at Van Schaick for your study material and textbooks
- Take advantage of exclusive deals through Varsity Vibe
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
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 a surety or any income to qualify
- The money can be used to pay for tuition, accommodation, books and educational neccesities such as a laptop, books, etc
- The money for tuition will be deposited directly in to the university’s account with the your details as reference
- Monthly interest and service fees apply and will be added to your outstanding balance
- Competitive interest rate applies
- The loan may be used to pay your existing outstanding fees linked to your current course and university
- There is no pressure to start repaying the loan before you complete your studies
- You have an option of settling your loan account earlier than the prescribed term with no penalties
- You only start repaying the loan after 6 months of having completed your studies (whichever happens first)
- You have flexible repayment options based on your affordability
Student benefits
- Get 5% off on your student accommodation with Thrive Student Living
- 5% Discount at Van Schaick for your study material and textbooks
- Take advantage of exclusive deals through Varsity Vibe
- 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
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)
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