Student Loans

        Student Loans

Student Loans

According to statistics by Stats SA, 51% of youth aged between 18 and 24 years of age are unable to afford the funding required for them to further their education. With the average cost of education on the increase, this figure is expected to rise over the next few years.

R4 000
Loan amount R100 - R4 000
Interest 24,31 %
Maturity 2 - 36 days

Fast information

Properties of this loan

  • Online loans up to R4.000
  • Term 2 - 36 days

Loan terms

  • Phone number
  • E-mail
  • ID number

About company

More information about the company Boodle (Pty) Ltd.

Borrow from R100 with interest from the 24,31 % Get a loan
R200 000
Loan amount R5 000 - R200 000
Interest 27,75 %
Maturity 1 - 7 years

Fast information

Properties of this loan

  • Online loans up to R200.000
  • Term 1 - 7 years
  • Quick application

Loan terms

  • Have and Identity Document of the Republic of South Africa
  • Be over 18 years old

About company

More information about the company DirectChoice

Borrow from R5 000 with interest from the 27,75 % Get a loan
R200 000
Loan amount R10 000 - R200 000
Interest 2 %
Maturity 1 - 10 years

Fast information

Properties of this loan

  • Online loans up to R200.000
  • Term 1 - 10 years
  • Easy online application

Loan terms

  • Have and Identity Document of the Republic of South Africa
  • Be over 18 years old

About company

More information about the company EC Loans

Borrow from R10 000 with interest from the 2 % Get a loan

Udu

Udu  4
R150 000
Loan amount R4 000 - R150 000
Interest 41,94 %
Maturity 12 - 60 months

Fast information

Properties of this loan

  • Online loans up to R150.000
  • Term 12 - 60 months

Loan terms

  • Your ID documents
  • Proof of residence

About company

More information about the company Transaction Capital Recoveries (Pty) Ltd

Borrow from R4 000 with interest from the 41,94 % Get a loan
R3 000
Loan amount R1 000 - R3 000
Interest 28 %
Maturity 3 - 6 months

Fast information

Properties of this loan

  • Online loans up to R3.000
  • Term 3 - 6 months
  • Easy online application

Loan terms

  • Be 18 years or older
  • Have a valid SA ID or driver’s license
  • Have a bank account

About company

More information about the company Low Budget Loans

Borrow from R1 000 with interest from the 28 % Get a loan
R200 000
Loan amount R500 - R200 000
Interest 5 %
Maturity 1 - 72 months

Fast information

Properties of this loan

  • Online loans up to R200.000
  • Term 1 - 72 months
  • Fast application, instant approval.

Loan terms

  • South African Citizen
  • Have a South African ID
  • Be permanently employed
  • Earn above R4,000 per month
  • Have a valid bank account

About company

More information about the company Money-Mouse Pty Ltd.

Borrow from R500 with interest from the 5 % Get a loan
R150 000
Loan amount R5 000 - R150 000
Interest 5 %
Maturity 6 - 72 months

Fast information

Properties of this loan

  • Online loans up to R150.000
  • Term 6 - 72 months
  • Easy online application

Loan terms

  • Be 18 years or older
  • Have a valid SA ID or driver’s license
  • Have a bank account

About company

More information about the company Go Personal Loans

Borrow from R5 000 with interest from the 5 % Get a loan
R200 000
Loan amount R100 - R200 000
Interest 10 %
Maturity 1 - 60 months

Fast information

Properties of this loan

  • Online loans up to R200.000
  • Term 1 - 60 months
  • Fast online application

Loan terms

  • The minimum age to use our service is 18
  • Must be a current resident of South Africa
  • Need an active South African bank account to allow the money to be transferred to you
  • Have to be a current resident of South Africa
  • You must have an income every month whether it be benefits or a job

About company

More information about the company Mayday Loans

Borrow from R100 with interest from the 10 % Get a loan
R150 000
Loan amount R1 500 - R150 000
Interest 12,25 %
Maturity 12 - 60 months

Fast information

Properties of this loan

  • Online loans up to R150.000
  • Term 12 - 60 months
  • Multiple loan providers

Loan terms

  • South African ID
  • Be over 18 years of age
  • Earn an income of R3 000 p/m or more
  • Have a bank account
  • Have a cell phone number

About company

More information about the company Total Finance

Borrow from R1 500 with interest from the 12,25 % Get a loan
R2 500
Loan amount R100 - R2 500
Interest 36 %
Maturity 30 - 60 days

Fast information

Properties of this loan

  • Online loans up to R2.500
  • Term 30 - 60 days
  • Online application

Loan terms

  • Age – 18 Years or Above
  • South African Citizen
  • Must have a Bank Account
  • Have a Permanent Employment

About company

More information about the company Fak'Imali Cash Loans Trading as Matotololo Group (Pty) Ltd

Borrow from R100 with interest from the 36 % Get a loan

        Student Loans

The government and financial institutions are eager to provide assistance to these individuals through student loans. However, with the numerous offers for student loans, how do you know which option is the best for you? To learn how to choose a suitable student loan in South Africa, keep reading.

How Much Do You Need?

How much you need in student loans depends on a number of factors such as:

  1. The cost of tuition plus upkeep for your further studies
  2. How much you or your parents can afford to pay towards your education

In most cases, parents feel obligated to cater for your education and thus they may be willing to take up personal loans in order to facilitate your learning. However, this is not the ideal approach.

Compared to student loans, personal loans are more expensive to service in the long run. Besides, you are only expected to start repaying your student loans when you complete school. Where a personal loan repayments start after a very short period of time.

Interest rates

Though student loans have lower interest rates compared to other types of loans, the providers differ on the interest they charge on the loan.  Typically, personal loans have interest rates of around 15% whereas student loans have interest rates of around 7% - 9% depending on the lender.

Ideally, you want to pay the least amount of interest on the loan. Hence, to find the best student loans, you need to conduct research on the different rates provided by lenders. You can make use of student loan calculators to compare the interest rates of different lenders.

Repayment Plan

How you are expected to repay the student loan is also an important factor. Despite student loans’ having relaxed repayment terms it is advisable to consider the most comfortable option. For instance, you should consider how much grace period a lender is willing to provide after you complete your studies before you start making repayments. The grace period is offered to the student to find a job with which to service the loan.

Additionally, the duration of repayment is essential as it determines how much you will be paying every month. The longer the repayment duration, the less you have to pay every month. However, a longer repayment duration also means that the accumulated interest will be higher. As a result, it’s essential to balance the duration of repayment with the interest accumulated so as to get a suitable deal.

Liability and Surety

Before signing the dotted line, make sure you fully understand the terms of the loan. For instance, some banks prefer the student loan to be in the name of the parent as opposed to the student. In such a case, your parents are liable for the loan since it is in their name.

However, if the student loan is in your name, then you are liable. However, as a student you will need to have a surety co-sign on the loan. This means that in case you are unable to repay the loan, the surety will also be held liable for the loan.


Student Loans rating: 4.5/5 from 22 votes.

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