Student Loan without surety
Important notice: Please note that we are not accepting first-time applications for this product. New applicants can still apply for our traditional Student Loan.
No surety? No stress. If you’re studying at one of our participating universities, you can apply for a Student Loan without surety today. Study with peace of mind now and only repay once you’ve graduated
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
We’ll support your studies if you don’t have someone to co-sign for you
Repay after graduation
You only need to start repaying your student loan after you graduate or employment is secure
Competitive interest rate
Finance your studies at affordable rates
*T&Cs apply
Historical debt covered
Pay off existing student debt that may be preventing you from completing your studies
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 necessities such as a laptop, books, etc
- The money for tuition will be deposited directly into the university’s account with 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 completing your studies or after securing employment (whichever happens first)
- You have flexible repayment options based on your affordability
Other benefits
- Take advantage of exclusive deals through Varsity Vibe
Who can apply
- 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
- Your annual household gross income must be less than R600 000
- You need to have a Standard Bank transactional account. Don't have one? Open a MyMo account today
How to get it
- Get an online quote by completing the form after clicking on Apply now
- 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
- Proof of latest academic results
- University registration letter
- Proof of cost for books and educational equipment if over R6 000 (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)
2. Personal (FICA) documents
- South African ID
- Proof of residence not older than 3 months
- Proof of household income
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.
-
How it works
-
Who can apply
-
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 necessities such as a laptop, books, etc
- The money for tuition will be deposited directly into the university’s account with 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 completing your studies or after securing employment (whichever happens first)
- You have flexible repayment options based on your affordability
Other benefits
- 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
- Your annual household gross income must be less than R600 000
- You need to have a Standard Bank transactional account. Don't have one? Open a MyMo account today
- Get an online quote by completing the form after clicking on Apply now
- 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
- Proof of latest academic results
- University registration letter
- Proof of cost for books and educational equipment if over R6 000 (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)
2. Personal (FICA) documents
- South African ID
- Proof of residence not older than 3 months
- Proof of household income
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.
How did Standard Bank select the courses on the university-approved list?
The selected courses are aligned to graduate skills in demand in South Africa. Approved courses may vary across each university.
Does Standard Bank intend to expand the participating universities and approved course list?
Yes, we aim to expand the offering to all institutions across the country and expanding the approved course list .
What happens to the interest fees charged on my student loan before I start working?
Monthly interest and service fees apply from the loan’s inception and will be added to the outstanding balance.
Is the Student Loan without surety available to part- and full-time students?
It’s currently available to full-time students only.
Who does Standard Bank evaluate for household gross income?
All caregivers earning an income, of the student’s particular household or place of residence (whom the student is dependent on).
What other lending criteria is the student loan subject to?
We will perform credit and fraud checks.
Will Standard Bank validate my academic progress with the university?
Yes, we will receive updates from the university regarding your academic progress or completion of your courses.
Can I consolidate other lending facilities obtained before getting this student loan?
No. This loan will not cover any of your prior credit obligations.
How long do I have to pay back the loan when I start working?
The repayment period is be based on what you can afford to pay when you start making repayment on your loan. However, the maximum term is 120 months.
What happens if I change universities?
This loan is subject to students studying at a participating university.
Why do I need to provide my race information?
Your race information forms part of the special personal information and will be requested as part of the application process. Some of our student loans are backed by third-party donors and require race information on the students they fund so that specific BEE criteria can be met.
If you want to be considered for a student loan that is backed by these specific donors, you should provide your race information. This is not a mandatory field, and you may choose not to disclose the information. If this is the case, simply tick the ‘Prefer not to say’ box.
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