Eduloan is a registered credit provider with South Africa’s National Credit Regulator: NCRCP158
About – Eduloan
Eduloan helps young South Africans improve their lives through the provision of education finance. It was founded in 1996. So far, it has granted more than 720 000 student loans with a total worth of over R3.7 billion.
We help students who cannot qualify for finance from commercial banks to make their dreams reality.
Get more with an Eduloan
Our loans are designed to cover the full cost of education. Students receiving the funds can pay for all the study materials and equipment which they require including devices such as laptops.
We provide solutions for administering funds and bursaries as well and guarantee the maximum utilisation of the funds.
Services – Eduloan
Eduloan was founded in 1996 and is currently one of the leaders in the education finance market of South Africa. Since its establishment, it has helped over 720 000 young people from all over the country to complete their education and start a successful career.
It has facilitated loans for over R3,7 billion.
We offer the most comprehensive and affordable study loans and provide the extra financial care which young people need to manage their finances.
Our unique bursary fund management programme called Eduxtras allows students to manage, monitor and control their spending on fees, study materials, accommodation, food, entertainment and more.
Summary of Services
- Personal Long-term Loans
- Student Loans
- University Grants
- Education Finance
- Study Loans
- Personal Loans
Eduloan Student Loans Review - How Favourable Are They?
In the modern world, university education is a major determinant of a person's salary income and overall lifestyle. You can earn a lot of money in the future when you have a degree but, how can you finance your education now? This Eduloan student loans review will help you decide whether these products can provide the affordable finance which you are looking for.
Eduloan is a reputable provider of student finance operating throughout South Africa. The company has been assisting students and their families since 1996. It is reliable and offers a variety of solutions for you to choose from. You can expect speedy professional service dedicated to your needs and you can even apply for a loan online.
three types of Eduloan student loans
There are three types of Eduloan student loans - for tuition fees, for accommodation and for study tools such as textbooks, laptops and other equipment. On one hand, this gives you flexibility when using finance. On the other, you may have to make three separate applications and manage the repayment of three different student loans if you require finance for all of these items. The loan amounts will depend on the size of the expenses which you will make. You cannot get extra cash.
In order to be able to use one of the Eduloan student loans, you need to find surety. This is a person who earns income and who will assume the responsibility of repaying the personal loan on your behalf. This person is typically a parent or a guardian, but it can be absolutely anyone who is willing to help you out. The surety must earn a monthly salary income of R2 000 after deductions.
the creditworthiness of the surety
The interest rates on these loans are quite competitive but, they are individually determined. They may be affected by the creditworthiness of the surety. The repayment of the principal and interest starts immediately after the loan is granted. The monthly instalments are fixed so the university loan should be easy to manage.
You can pick from 3 repayment term options - 10, 16 and 22 months. A longer term will make the instalments smaller, but will result in higher total interest payment. This review's verdict is that the Eduloan student loans are suitable for those students whose sponsors are able to start the repayment right away.