The 6 advantages of a Standard Bank student loan
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If money is what’s standing in the way of the life and career you want, then a student loan could help you afford your education without stressing about how you’re going to finance it.
Getting a higher education is an investment in yourself but unfortunately, it’s also expensive. Here’s why a student loan from Standard Bank could be just the tool you need to facilitate your academic life and financial future.
It gives you what you need when you need it
A student loan caters to your specific and unique needs, and the process is quick and easy. It pays your tuition directly to the institution, your accommodation is paid directly to your landlord or res, and funds for textbooks and study equipment are paid directly into your or your surety signer’s bank account.
It gives you the flexibility to focus
If you are a full-time student, you only need to start paying back the student loan in full once your studies are finished. Until then, the person who signed surety for you will only pay the interest and fees on the loan, giving you the financial freedom to focus on your studies and create the future you want without worrying too much about money. If you are a self-assured student, Standard Bank offers you affordable and flexible monthly repayments.
It’s easy to qualify
To qualify, you need to be 18 years or older and either be accepted to or studying at an accredited institution. If you’re a full-time student, you’ll need someone to co-sign as surety. You can also check if you qualify for a student loan by clicking on ‘DO I QUALIFY?’ on Standard Bank’s student loan page to get an instant quote.
The interest rate is lower
Compared to a personal loan or paying for your studies with a credit card, you can get your student loan at a lower, personalised interest rate, paying as little as 7%* interest per annum.
It pays for more than just tuition
In addition to tuition fees, your student loan could also be used to pay for your accommodation, as well as the textbooks and equipment needed for your studies.
Applying is easy
You can get pre-approval online before completing your application at your closest branch with all of the necessary documents.
Top tip: Carefully consider how much you want your student loan to cover. As a full-time student, you’ll only have to pay back the money once you complete your studies, but you don’t want to be saddled with too much debt once you graduate. Remember, you can always increase your student loan limit with Standard Bank late