WHAT IS A STUDENT LOAN?
Student loans are sums of money you borrow from a financial institution for your education, and pay back over time—in most cases, with interest.
HOW DOES A STUDENT LOAN WORK?
The student and parent/guardian can apply for a Student Loan at any registered Financial Institution, ie: a bank.
The parent or guardian will sign as surety for the student for the loan amount and pay the interest off over the period of study for the student. The student first needs to be accepted by the accredited institution for the course of study, and they need to provide with proof of registration, as well as the schedule of fees.
Thereafter, when the student becomes employed, he/she can pay the balance of the loan off over up to 5 years.
To qualify for a student loan, the person signing surety for the student must be employed, earning a minimum of R3500.00 monthly, and have a clear credit record.
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WHO DO WE WORK WITH?
iStudent Academy has worked with all banks for student loans.
iStudent Academy recommends FUNDI for Student Loans – they specialize in finance for the needs of students, for every step of their educational journey, and provide funding for the following:
- Private school funding
- Tertiary education
- Postgraduate qualification
- Executive education programmes
- All the short courses and learning programmes
FUNDI funding covers the following:
- Study fees
- Registration fees
- Outstanding balances
- Textbooks, and accommodation
- Laptops, tablets, and other study tools
The required information for applying for FUNDI solutions:
- A fully completed application form and the terms and conditions
- A quote from the preferred education institution
- A certified copy of the ID
- A certified copy of the most recent payslip
- The most recent 03 months bank statement with a bank stamp on it (A letter confirming employment if employed by a private company)
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HOW DO I APPLY?
All Financial Institutions will have their own qualifying criteria for Student Loans. You can visit your bank to or your banks website to find out more about the Student Loans they offer (ABSA, Nedbank, Standard Bank and FNB).
FUNDI LOANS has the following documents available as somewhere to start, but you can also check out thier website FUNDI.
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iStudent Academy DBN: 16 Peter Mokaba Ridge Berea | 031 277 2001
iStudent Academy PMB: 460 Townbush Road, Cascades | 031 277 2002
iStudent Academy BFN: 6 Bermakor Park, 52 Reid St, Westdene | 087 255 9627
iStudent Academy JHB: 0B Forest Road Pineslopes Office Park Block C, Sandton | 011 465 1405
iStudent Academy CPT: 1 Century City Dr, 4th Floor Aurecon Building, Century City | 021 824 1170