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Student Loans

A student loan offers quick approval for up to R120,000 at a low-interest rate starting from 6.5% and a repayment term of up to 7 years – finance your education with flexibility, affordability, and convenience.

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Get a student loan & become your best self

A quality education is priceless and that’s why these student lenders offer affordable, flexible student finance that will help you pay for your studies.

Frequently Asked Questions

Student loans in South Africa: Make your career dreams a reality

Are you set on getting a tertiary education but can't afford it? Get a student loan and make your dreams of studying further in South Africa a reality.

University education is your ticket to a well-paid job, successful career and good lifestyle; at the same time, higher education in South Africa is very expensive.

Many families do not have sufficient savings to support their children throughout the university. In this situation, a student loan is an effective solution. Find out how a student loan works.

The different types of Student loans

There are student loans that are available via the National Student Financial Aid Scheme, abbreviated as; NSFAS which is managed by the South African government.

There are also student loans from private lenders including the big four South African banks and some independent credit providers.

The National Student Financial Aid Scheme (NSFAS)

South Africa has 25 public universities. If you are a South African student enrolled in one of these institutions then you may be eligible for a loan from NSFAS

They are designed to help you cover all of your expenses including tuition fees, accommodation, food, travel expenses and spending on books and materials.

How much can I borrow from NSFAS?

Loan amounts are determined on an individual basis. The interest rate is 80% of the repo rate. This is considerably lower than the interest rates charged by banks on student and personal loans.

NSFAS Loan Application

NSFAS checks eligibility with an in-house Means Test. You also have to prove that you have a good academic record and that you will maintain this performance

NSFAS as a credit provider does not require any collateral for the loan from parents, guardians or sponsors.

Students who partner with them to fund their education are assured that the loan only needs to be paid back after graduation and once you earn an income of more than R30 000 a year.

If your annual income is lower than R59,000, the payments will be 3% of your yearly salary. If it is higher, then they will be equal to 8%.

Student loans from a Bank in South Africa

These student loans are also intended to cover all of your expenses as a student including tuition fees, accommodation expenses and expenses on textbooks, study materials and travel just like a Government-backed loan. However, they work slightly differently.

A surety has to apply on your behalf. This person can be your parent or guardian or even a sponsor who will agree to support you on your educational journey.

The surety has to have a sufficiently high income and sufficiently low debt plus a good credit score in order to secure the loan.

Student loan amounts

Loan amounts are determined for each individual case. There are various factors that will be taken into account but one of these is the financial status of the surety including how much disposable income they have. It is important to compare the interest rates and services offered by different lenders to make sure you are making an informed decision.

The credit standing of the surety will affect the rates you are offered

The repayment structure of the bank student loans is divided into two periods.

The first period encompasses the period during which the student is in school. While studying the lender only expects interest payments from the surety.

When you graduate, you will have to pay back the remainder of the interest and the principal in the form of monthly instalments.

Terms of the contract and what repayments will be expected are all set out in advance

Grace periods are granted to graduates who have to complete an internship or do voluntary work. It pays off to compare the different student loan options before you apply for a loan or a programme in a university in South Africa.

Student loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This student loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

List of direct lenders offering Student loans

  1. FNB Student loan


    • Loans up to R80,000
    • Term up to 7 years
    • Interest from 6.5%
  2. Fundi Student loan


    • Expert advice
    • Full funding
    • Affordable repayments
  3. Absa Student loan


    • Loans up to R250,000
    • Term up to 72 months
    • Interest up to 7.5%
  4. NSFAS Student loan


    • Effective Financial Aid
    • Fund your education
    • Track your application
  5. Nedbank Student loan


    • Loans up to R100,000
    • Term up to 36 months
    • Interest from 10.25%
  6. All Bursaries Student loan

    All Bursaries

    • Loans up to R300,000
    • Flexible payment plans
    • Interest from 6.5%
  7. Challenor Finance Student loan

    Challenor Finan...

    • Loans up to R80,000
    • Term up to 24 months
    • Competitive rates
  8. Just Money Student loan

    Just Money

    • Loans up to R50,000
    • Privately Funded Loans
    • Apply online
  9. EC Finance Student loan

    EC Finance

    • Loans up to R120,000
    • Term up to 60 months
    • Interest from 32.10%
  10. Study Loans SA Student loan

    Study Loans SA

    • Financial Solutions
    • Affordable loan options
    • Apply online today!
  11. Like Money Student loan

    Like Money

    • Compare and SAVE
    • Loan finding service
    • Get that education
  12. SA Loan Services Student loan

    SA Loan Service...

    • A direct loan broker
    • Term up to 84 months
    • Interest from 2%
  13. Izwe Loans Student loan

    Izwe Loans

    • Loans up to R250,000
    • Term up to 60 months
    • Interest up to 27.75%
  14. EduLoan Student loan


    • Expert student funding
    • Reliable advice
    • EASY to apply
  15. Just Affordable Loans Student loan