About Challenor Finance
Challenor is the number one financial lender because they make things happen for clients.
At Challenor clients receive individual attention. The process of applying for a loan can be time-consuming and still take longer for feedback to be provided. Challenor applications are easy and our time and resources are at the clients’ disposal. This results in a rapid response rate, saving customers on their effort and time.
The application process
All that clients need to do is to complete a form online, for ease of access and reserving clients’ time for the demands of student life. Alternatively, we have telephone operators that are ready and waiting to answer any queries and assist with the application process. Challenor’s pledge to their clients is to conclude loan application decision-making by the very next day. This also applies to the transfer of funds to clients - cash overnight!
Paying the loan back
Challenor is known for some of the best interest rates, going easy on your pocket. Clients, thereby, avoid paying higher interest than necessary. The stronger your credit score is, also affects how low the rates can go. These interest rates will stay the same for the entire loan repayment length time. Clients will always know what amount is due and it does not change without notice causing uncertainty. Monthly payments are also set at one specific total, simplifying the process of budgeting. Challenor welcomes all students in need of a student loan for the all-important purpose of furthering education, becoming productive members of society, and improving their prospects.
Finance the education you deserve
Deciding to study further after school at a tertiary institution, is both exciting and daunting. The rest of the client’s life lies ahead of them and they are following a wise path forward in uncertain times.
Their families want to give them the tools to become gainfully employed and earn a living sufficient to one day support a family of their own. The reality is that the economy has an impact on employment rates, as well as on the cash flow of individuals wanting to access a quality higher education. Whether it be a parent or a prospective student needing to foot the bill, a student loan is a solid resolution.
NSFAS Student Loans
The NSFAS is the National Student Financial Aid Scheme, which is a South African financial aid organisation. The student must, firstly, have been accepted into any public university in the country. Secondly, students must be able to prove that they have performed well academically thus far. Then they will need to take the NSFAS Means Test. This is to discern if the student qualifies financially for a social grant. Parents do not need to qualify or meet any financial needs. So the onus is on the student to pay back the loan.
The loan requirements
At Challenor we understand that being a student is a full role in itself and it is near impossible to still earn a living, as well as pay off a loan on the side. Students should be relieved to know that repayments only become payable after graduation from the university. Coupled with this, only once you are earning more than R30 000 per annum, will you then need to start making repayments. You will also pay a lower percentage of your income if you earn lower than R39 000 yearly, which is at 3%. If you earn higher than this, then the percentage increases to 8%.
Challenor Finance Product Details
- Loan Type Student loans
- Loan Amount up to R80,000
- Repayment 3 months to 24 months
- Decision 24 hours
Benefits of Challenor Finance
- Quick and easy loan applications
- Get a loan in 3 easy steps
- Apply within minutes
- Personal loans up to R80,000
Get the education you deserve
Tuition fees are not the only expenses one faces during completing a diploma or degree. There are a lot of other considerations and resources that students rely on which cost money.
Consider the following factors
Where will students stay - Home is not always close-by to ones’ campus, and property rental is not an option for many. What is great about this loan is that it covers your accommodation, be it on university grounds or otherwise.
Transport - Campus locations are often spread over a suburb or large area, and not all on the doorstep even of on-site living quarters. Students have to travel between different classes and departments. With a Student Loan, students can afford to make regular use of public transport and pay for their means of travel.
Textbooks – Textbooks are expensive and essential. Students are likely to be instructed to obtain more than one for each module of their course. The prices add up as each year passes. Even this is paid out from Challenor’s Student loan, so students do not miss a beat.
Study materials- A range of stationery and study aids need to be employed to take part in lectures, finish assignments, conduct research, and study for tests and examinations. All of these fees are financially provided for as well.
Grace periods – This loan also takes into account students who are obligated to give of their time to volunteer as part of their course. Students may also have to participate in internships. In these instances, the loan makes provisions by offering a grace period or a break in repayments.
Customer Reviews & Testimonials
I was impressed with the Challenor consultant’s patience and knowledge. Now I know my loan is manageable and my confidence is back!
— Pretoria —
University seemed out of reach. However, thanks to Challenor I could access my funding, and continue to follow my passion.
— Durban —
Challenor is definitely the best fit for my financial goals. Two thumbs up!
— Port Elizabeth —